GDP for 2014 re­vised down­ward to 7.3%

China Daily (Canada) - - NEWS CAPSULE -

China’s gross do­mes­tic prod­uct (GDP) growth for 2014 has been re­vised down­ward by 0.1 per­cent­age point to 7.3 per­cent, the Na­tional Bureau of Sta­tis­tics an­nounced.

The re­vised gross do­mes­tic prod­uct (GDP) for 2014 came in at 63.61 tril­lion yuan ($10 tril­lion), down 32.4 bil­lion yuan from the pre­lim­i­nary cal­cu­la­tion fig­ure that put the an­nual rate at 7.4 per­cent, the Na­tional Bureau of Sta­tis­tics (NBS) said in a state­ment.

NBS cal­cu­lates each year’s GDP three times — the pre­lim­i­nary cal­cu­la­tion, fol­lowed by the pre­lim­i­nary ver­i­fi­ca­tion and then the fi­nal ver­i­fi­ca­tion, which is re­leased sev­eral months later.

Last year marked the weak­est an­nual ex­pan­sion for China in 24 years due to a hous­ing slow­down, soft­en­ing do­mes­tic de­mand and un­steady ex­ports, and growth fur­ther slowed to 7 per­cent in the first half of 2015.

PHOTO / IC

The 117-story Tian­jin was capped on Tues­day. With the main struc­ture reach­ing 596.5 me­ters (1,952 feet), it is the sec­ond-tallest build­ing in the world, only next to Burj Khal­ifa in Dubai, United Arab Emi­rates. Con­struc­tion on the tower, which has a floor area of 847,000 sq m, was launched seven years ago.

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