G.F. 326
CONFIDENTIAL #
CRC INF 12/88
(CEC 6/88)
(I)
Report on Developments in Hong Kong-China Economic Relations
second quarter of 1988 -
General economic developments in China
(a) Domestic sector
China's economy was very buoyant in the first half of 1988. Its gross national product exceeded Rmb 557.5 billion, 11% higher in real terms than in the first half of 1987. The corresponding growth rate for
national income was 10.2%.
2.
7
China's
In terms of gross industrial output, the growth
rate in the second quarter of 1988 was even faster than in
(1) the first. Estimated at Rmb 312.7 billion
gross industrial output in the second quarter of 1988 was 17.6% higher in real terms than in the same quarter last year. The corresponding growth rate in the first quarter
was 16.7%. The second quarter of 1988 was the seventh
consecutive quarter in which the year-on-year growth rate of gross industrial output exceeded 13% in real
(1)
All the gross industrial output value figures quoted
in this paper are at constant (1980) prices and exclude output from village run enterprises.
CONFIDENTIAL # 3
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