Feb. 4, 2010 (China Knowledge) - China's National Bureau of Statistics said that investment, including infrastructure investment and equity investment, contributed 8 percentage points, or 92%, of the country's GDP growth in 2009.
The latest data from the National Bureau of Statistics show that retail sales contribute 52.5% of China's economic growth and pushed up the GDP growth rate by 4.6 percentage points last year. However, net export dragged the GDP growth down by 3.9 percentage points.
Last year, the total fixed asset investment rose 30.1% year on year, and the growth rate was 4.6 percentage points higher than in the previous year.
In 2009, China's exports and imports declined 16% and 11.2%, respectively. Trade surplus was US$196.1 billion, US$99.4 billion less than a year earlier.
Boosted by the government's stimulus policies, vehicle sales in the country exceeded 13.5 million units last year, making China the world's largest car market.
It is estimated that the rising domestic demand will become a more important engine for China's economic growth in the coming years.