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GDP growth predicted at 8pc
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CHINA'S economy is estimated to have scored an eight per cent growth in the year 2000, 0.9 percentage points more than in 1999, the National Bureau of Statistics (NBS) announced on Saturday morning.
The gross domestic product (GDP) reached more than 8.9 trillion yuan (US$1.068 trillion) in 2000, surpassing US$1 trillion for the first time in the nation's history at the current exchange rate, according to preliminary statistics released by the NBS.
Director of NBS Zhu Zhixin said although the above-mentioned figures are mere estimates, there is no denying that China has overcome the impact of Asian financial crisis and that China's economy has taken a favourable turn.
Meanwhile, the latest statistics released in the small hours of December 30 show that the year 2000 is another encouraging year for the city of Shenzhen, according to a Shenzhen Special Zone Daily (SZSZD) report on Saturday.
The financial system across the city has witnessed a dramatic surge in 2000 in both scale and economic returns, the report said.
At the end of 2000, balanced deposit savings with the city's financial institutions stood at 311 billion yuan, an increase of 50 billion yuan, or 21 per cent from the start of the year. Unpaid loans with these financial organizations totalled 226 billion yuan, an increase of over 50 billion yuan.
Revenue and expenditures have been balanced in the local budgets for 20 years in a row, with the revenue slightly surpassing expenditures.
The city realized a total fiscal revenue of up to 22.191 billion yuan for the year 2000, an increase of 3.99 billion yuan over the previous year. The local taxation bureau is expected to have levied 47.68 billion yuan in State taxes and 15.402 billion yuan in local taxes in 2000, the SZSZD reported.
The city's GDP for the year 2000 is expected to have reached 165.5 billion yuan, up 14 per cent from the previous year. The city's total economic volume for 2000 is 2.08 times of that in 1995 and 9.64 times of that in 1990.
December 29, 2000 saw the last trading day of the 20th century for China's stock market. Both Shenzhen and Shanghai stock exchanges wound up their trading in a satisfactory way by posting a rise on the last day.(SD-Xinhua)
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