ZCZC
BCN-33
CHINA-ECONOMY-GDP
New economy output accounts for 15.7 pct of China’s GDP
BEIJING, Nov. 22, 2018 (BSS/Xinhua) – The value-added output of new
industries, new types of business and new business models accounted for 15.7
percent of China’s GDP last year, up 0.4 percentage points from 2016, the
National Bureau of Statistics (NBS) said Thursday.
It was the first time the NBS officially released data on the value-added
output of the new economy.
In current prices, new economic output grew 14.1 percent in 2017, outpacing
the GDP growth in current prices by 2.9 percentage points, according to the
NBS.
The output of new industries, business types, and models in the service
sector accounted for 8.4 percent of the country’s GDP last year, up 0.4
percentage points from 2016 and higher than that in the agricultural and
industrial sectors.
New economic output in the service sector expanded 17 percent in current
prices in 2017, NBS data showed.
New industries and business forms have become a greater driving force for
the Chinese economy amid technology development, market upgrading and
government efforts to boost mass entrepreneurship and innovation.
BSS/XINHUA/HR/1420