China’s GDP growth for 2013 was at 7.6%.
China’s currency is ending 2013 at 6.0539 to the US dollar The exchange rate at the end of 2012 was 6.31.
Official 2013 GDP will be reported in a couple of months, but if it comes in at about 58 trillion yuan then China’s economy will be about US$9.6 trillion. Including Hong Kong and Macau it would be US$10 trillion. China has 51.93 trillion yuan for its end of 2012 economy. The 7.6% growth and 2.8% inflation would give about 58 trillion yuan economy.
China’s government set a GDP growth target of 7.5% for 2014
Top leaders believe that maintaining the 7.5 percent target will help keep growth humming to create more jobs, while providing wiggle room to deepen reforms, government economists involved in the discussions about the plans said.
“Two camps who proposed growth target – 7 percent or 7.5 percent – made their points. But the government favors 7.5 percent,” said an economist at the State Information Centre, who requested anonymity due to the sensitivity of the issue.
Key economic targets for 2014 will be announced by the government during the annual parliament meeting in March
The government may also stick with this year’s 3.5 percent inflation target for 2014, but economists cautioned that price pressures could rise as China frees up energy and utility prices. Annual inflation in 2013 is seen at 2.6-2.7 percent, below the target.
With developed economies showing signs of sustained recovery, the government has more confidence in targeting steady economic growth next year, economists said.
The commerce ministry’s think thank forecast that China’s exports may grow at least 10 percent in 2014 thanks to improved global demand, especially from developed countries
Year GDP(yuan) GDP growth USD/CNY 2011 47.2 9.2 6.3 2012 53 8.0 6.2 2013 59 7.6 6.05 2014 66 7.5 5.8 2015 73 7 5.5 2016 80 6.5 5.2 2017 88 6.5 5.0 2018 97 6 4.8 2019 107 6 4.6 2020 115 6 4.3 2021 125 5 4.1 2022 135 5 3.9 2023 145 5 3.7 2024 157 5 3.5 2025 170 5 3.3 2026 183 5 3.1 2027 198 5 3 2028 214 5 3 2029 235 5 3 2030 259 5 3
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Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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