GDP for 2014 revised downward to 7.3%
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.
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.