CCTV:
The GDP growth of 6.7 percent, especially the rate of 6.8 percent in the fourth quarter of last year, may draw considerable attention across the country as the slight upward trend resembles the upper end of a smiling curve representing China's economic performance in the past few years. My question is: with supply-side structural reform being pursued to change the industrial landscape and the goals of economic transformation set as early as the end of last century, is 2016 supposed to be the watershed marking the evolution of the Chinese economy? Besides, is the 6.7-percent growth rate signaling the medium and high increases of China's economic “new normal” addressed by President Xi Jinping?
Ning Jizhe:
The Chinese economy has progressed to the phase known as the new normal. As you said, the growth of 6.7-percent is reasonable as it was earlier estimated to grow between 6.5 percent and 7 percent. It could be called a medium-and-high growth rate and it remains high compared to the rest of the world. According to the International Monetary Fund (IMF), the Chinese economy was expected to grow 6.7 percent in 2016, while, India was to achieve 6.6 percent. The growth of Chinese economy last year probably remained the highest in the world. As the second largest economy in the world, our GDP has amassed US$1.1 trillion, a basis on which an increase of one percentage point would result in colossal output. The growth is especially significant when China has undertaken economic structural advancement and the change of economic models. In view of the structural reform, the contribution of the tertiary industry to GDP in 2016 continued to grow, as the consumption comprised almost two-thirds of the national economy. With the change of economic models, energy intensity per unit GDP last year declined by five percent, a figure reflecting painstaking endeavor. The proportion of the use of clean energy increased and the enterprise efficiency improved. Economic improvement in quality and efficiency are important parameters for economic transformation. To conclude, last year, the economy performed in an appropriate range with improved quality and efficiency, two hallmarks under the new normal last year.
Phoenix TV:
Recently, there were many media reports about the economic data fraud scandal of Liaoning Province. What was the province's real situation between 2011 and 2014? Will its data be adjusted according to the true situation? My next question is: Is data deception a common practice in other provinces? What measures will be taken to ensure we get correct data?
Ning Jizhe:
The Liaoning provincial government has responded to the issue. You can contact the local statistics department for further information. The data involved in the scandal is mainly about financial revenue. I think, on a national scale, the statistics remain reliable.
Fraud in some particular areas concerning some particular issues will be halted as soon as it is discovered. The National Bureau of Statistics has taken a series of measures to ensure the correctness of statistical data. It has also adopted legal approaches to prevent fraud. Part of its power involves enforcing the Statistics Law.