Top 10 economic numbers
Editor's note: You may think statistics are dull. But some may attract you the first moment you see or hear about them. A single number may not tell the whole story, but there is a story behind it, for sure.
5.1%
Everybody in China may have felt the price hikes in all kinds of goods. The acronym CPI is now one of the best known economic terms.
China's CPI (Consumer Price Index), a major gauge of inflation, rose to a 28-month high of 5.1 percent in November, the National Bureau of Statistics (NBS) said on Dec 11.
The growth rate picked up from 4.4 percent in October, according to the NBS. The inflation was driven by an 11.7 percent of surge in food prices, which accounts for one third of the basket of goods used to calculate China's CPI. [Full Story]
$7.24 billion
Trade deficits are rare for China. But it did come, albeit only once this year.
China's trade balance turned red in March, the country's first monthly trade deficit in six years, the General Administration of Customs said on April 10.
China exported $112.11 billion of goods and services in March, up 24.3 percent year on year, while the imports surged 66 percent year on year to $119.35 billion, resulting in a trade deficit of $7.24 billion. [Full Story]
12.8%
It may be a dream for people in China to own a house or apartment. But climbing prices have shattered many dreams. The number 12.8 percent in April shows that the growth rate for housing prices peaked in that month. Since then, housing prices have been rising at a slower pace.
$1426.08 an ounce
You may want to buy gold to counter inflation, or you may just want to buy a gold necklace for your mother, but gold may have become too expensive.
China's investment-driven consumption of gold will almost double this year to 45 billion yuan ($6.7 billion), due to growing concern over inflation and restrictions on property investment, the World Gold Council (WGC) said on Thursday.
'We expect investment-oriented consumption of gold could reach 150 tons in China this year, up from 80.5 tons during the same period last year,' Albert Cheng, managing director of WGC (Far East), told China Daily. [Full Story]
6.8275
The exchange rate for China's currency renminbi against the US dollar stayed at 6.8275 for a long time. But that was not the case anymore.
The People's Bank of China, China's central bank, has decided to proceed further with the reform of the renminbi exchange rate regime to enhance the RMB exchange rate flexibility, a spokesperson of the central bank said on June 19.
The decision was made in view of the recent economic situation and financial market developments at home and abroad, and the balance of payments (BOP) situation in China, the spokesperson said in a statement. [Full Story]
5.16%
Stocks rise and fall, which is the normal state of the equities market. But the drop of shares by 5.16 percent in a single day may put a big dent in 'your pocket.'
$2.65 trillion
Management of China's colossal foreign exchange reserves can be a challenge.
China's foreign exchange reserves, the world's largest, rose $194 billion in the third quarter to reach a record $2.65 trillion, which some foreign countries will likely use to pressure China to push forward a faster yuan appreciation, economists have said. [Full Story]
No 1
China is on its way to getting more No 1s in the 21st century. It's now No 1 in the Emerging Markets Opportunity Index.
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A customer leaves an Ikea store in Shenyang, Liaoning province. China ranks No 1 among 27 emerging economies due to its huge consumer market and rapid economic growth, according to Grant Thornton. [Doug Kanter / Bloomberg] |
China ranks No 1 among 27 emerging economies due to its huge consumer market and rapid economic growth, according to the Emerging Markets Opportunity Index released by US accounting firm Grant Thornton.
The index takes account of key factors such as the size of the economy, wealth, involvement in world trade, growth potential and levels of human development. [Full Story]
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No 2
China's GDP in the second quarter of this year exceeded Japan's, overtaking the No 2 spot held by Japan for more than 40 years.
China's economy again beat Japan's in the third quarter of this year.
China's nominal GDP amounted to $1.42 trillion during July to September, compared with Japan's $1.37 trillion. [Full Story]
2,000 cars
'If the average life expectancy of Chinese is 70, Beijingers actually only get 50 years because we waste 20 in traffic jams.' Just imagine what it's like when every day 2,000 more cars are hitting the road.
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Commuters wait nose to tail on the Third Ring Road in Beijing during rush hour last weekend. Traffic congestion in many cities has severely worsened in the last few decades, with more cars adding to the problem every day. [Wang Jing / China Daily] |
Take a sneak peek at a Christmas list drawn up by any Beijinger and chances are it includes a new car - or, to be precise, a new license plate.
People have been desperate to get their hands on this year's festive 'must-have' since the announcement of plans to restrict vehicle purchase and registration in the capital from Jan 1. [Full Story]
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