China's GDP up by over 9 pct in fiscal 2011-12

Beijing, Mar 5(ANI): China's Gross Domestic Product (GDP) grew by 9.2 percent in fiscal 2011-12, as compared to figures released in 2010-11.

According to a National Development and Reform Commission (NDRC) report presented on Monday, China's GDP reached 47.1564 trillion Yuan.

The report further reveals that the country's total revenue for 2011 also rose by 24.8 percent (10.37 trillion Yuan), while retail sales of consumer goods totaled 18.3919 trillion Yuan, up 17.1 percent.

Total fixed asset investment amounted to 31.1022 trillion Yuan, up 23.6 percent

Total grain output was 571.21 million tons, up by 4.5 percent from the previous year, the eighth consecutive annual rise while energy consumption per unit of GDP fell by 2.01 percent.

The report also said that an additional 12.21 million urban jobs were created, 3.21 million more than the targeted amount.

The urban per capita disposable income and rural per capita net income reached 21,810 Yuan and 6.977 Yuan, respectively, up by 8.4 percent and 11.4 percent in real terms after adjusting for inflation.

The country's export and imports volume also reached 3.6421 trillion U.S dollars, up by 22.5 percent from the year before.

The NDRC report says that China hopes to achieve a GDP growth of about 7.5 percent in fiscal 2012-13.

It also plans to create nine million new jobs and keep urban registered unemployment rate at about 4.6 percent.

It also plans to increase import and export volume by about 10 percent. (ANI)