CHINA-INTERNAL:ECONOMY
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China's official news agency 'Xinhua' reported (June 23) that renowned Chinese economist, Li Yining, a member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), had on June 23 refuted the notion that China's economy is in decline. He said that the previous high growth rates were "not normal" and the "9 to 10 percent growth rates were to cope with the global economic crisis, and they were actually not normal. It won't do us much good if we keep that up." Li Yining added that China's current GDP growth should be higher than the released figure, citing that housing construction in rural areas, is not included in the country's GDP calculation while it usually is in developed countries. According to Li Yining other fast-developing fields such as the incomes of maids and nannies as well as rural roads and bridges built in charity programs were not included in China's GDP either. He also refuted doubts concerning the authenticity of China's GDP figures.
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