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2004 GDP revised up 16.8%, ranking 6th largest economy
Updated: 2005-12-20 13:43

Business confidentiality

"In the publication, utilization and analysis of the survey results, departments and local governments concerned should continue to abide by the Statistics Law and the Regulations on National Economic Survey, to protect business confidentiality and privacy of the respondents, and to honor earnestly the commitmentsof not levying any penalties on the respondents on the basis of survey information," Li Deshui said at the press conference.

The NBS is working on the revision of data back to 1993 on the basis of the revised GDP figures in the survey year, using the trend deviation method which is widely adopted by the Organizationfor Economic Cooperation and Development, Li said.

"Results of the revision will be released on another occasion," he said.

According to the State Council's decision, the survey results will be used as a basis for the central government and for local governments in compiling 2005 national account statistics, in highlighting economic and social development for the 10th Five-year Plan period (2001-2005), and in preparing the 11th Five-year Development Program and the 2006 annual development plan, he said.

Tertiary industry

The share of China's tertiary industry in the country's 2004 GDP has risen from the earlier estimated 31.9 percent to 40.7 percent, up 8.8 percentage points, shows the first-ever national economic survey.

The results from the national economic survey indicate there was an underestimation of the tertiary industry's contribution to China's GDP in 2004, Li said.

According to the survey, the value-added of the tertiary industry was 6.5018 trillion yuan, or 2.1297 trillion more than the annual preliminary estimation.

Of the total increase of 2.3 trillion yuan in the GDP, the increase of the value-added of the tertiary industry accounted for 2.13 trillion, or 93 percent, said Li.

Li said it is the under-coverage of the tertiary industry in the regular statistics that has led to the above situation.

As the scope of the tertiary industry is turning wide and complex with a large number of units, and many new and dynamic services are mushrooming in China along with the rapid economic growth, it is very difficult to conduct statistics surveys, resulting in a certain degree of under-coverage, Li added.

Li mentioned the three sectors where private and individual ownership has taken a large share, including transport, storage, post and telecom; wholesale and retail trade, catering trade; and the real estate. The value-added in the three sectors was about 1.5 trillion yuan larger than the regular preliminary estimation, accounting for 70 percent of the total increase of the tertiary industry.
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