China's GDP grows 8.7% in 2009
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The value-added of industry rose 11 percent in 2009 from a year earlier. Retail sales rose 16.9 percent year on year, while fixed-asset investment rose 30.1 percent.
Ma gave no figures for the respective contributions of exports, consumption, and investment to the GDP growth, but promised to disclose the figures at the end of the month.
Yu Yongding, a research fellow with Chinese Academy of Social Sciences, said the government's stimulus package was a success in "risk control," but some measures did not serve a balanced economy. "The government should focus more on economic structure adjustment."
Zhang Liqun, a researcher with the Development Research Center of the State Council, echoed Yu, by saying heavy investment and strong consumption had driven the economic growth to accelerate last year.
"The economic development last year was powered mainly by the engine of government-stimulated investment," Zhang said. "The country needs to seek balanced development pattern to seek sustainable development."
According to the NBS, China's retail sales totaled 12.53 trillion yuan last year, up 15.5 percent from a year earlier. The growth rate was 16.9 percent when deducting inflation.
"Although consumption expanded fast last year, domestic demand was still not as large as expected," said Zhang.
At the Central Economic Work Conference held in December, the government vowed to focus on expanding domestic consumption, supporting agriculture, and improving people's living standards in 2010.
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