CHINA / National

China now 4th largest economy -WB
(China Daily/Agencies)
Updated: 2006-07-04 06:02

China said on December 20, 2005 that its economy was far bigger than previously estimated.

It revised its economic data after a year-long nationwide economic census uncovered about US$280 billion in hidden economic output in 2004. The amount is roughly equivalent to an economy the size of Turkey or Indonesia, or 40 per cent of India's economy.

That means that China's gross domestic product in 2004 was nearly US$2 trillion, not the US$1.65 trillion previously reported. With its GDP up 17 per cent, China was the sixth-largest economy in the world last year.

The new figures provide good news for China, economists say, suggesting that the country's economy is healthier, more diversified and more capable of sustaining growth than previously believed.


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