China raises GDP growth to 11.9 percent - Boston Globe

Summary:
National Statistic Bureau report; China's GDP ($3.61tr) and growth (11.9%) in 2007; price inflation at 8.7% (10/04/2008)


Facts and Figures:

• China
  
• GDP in 2007: 24.95tr yuan, $3.61tr
• GDP growth
  
• 2007: 11.9%
• 2006: 11.6%
• 2008: 9% (forecast)
• Price inflation Feb 2008: 8.7%
• Highest in 12 years
• Germany's
  
• GDP (2007): $3.8tr
• GDP growth (2007): 2.5%

Notes:

• China's GDP growth in 2007 revised upwards to 11.9% (11.6% in 2006)
• China (GDP $3.61tr) close to overtaking Germany (GDP $3.8tr) as world's third largest economy
• China remains much poorer per person
• China's growth been greater than 10% for last 5 years
• 2008 forecast: 9% due to global slowdown and falling export growth
• Beijing concerned with slowing down growth
• Central bank raising interest rates to cool price pressure (February inflation 8.7%, highest level in 12y)