China’s economy in 2009 grew by 8.7 percent over last year, exceeding its target of 8 percent, according to the country’s official data.

The gross domestic product (GDP) reached 33.54 trillion CHY (4.91 trillion USD) last year, Ma Jiantang, director of the China National Bureau of Statistics (NBS) told a press conference on January 21.

China’s economy grew by 10.7 percent year-on-year in the fourth quarter alone. The figure compares favourably with a quarterly growth of 6.2 percent in the first quarter, 7.9 percent in the second quarter, and 9.1 percent in the third quarter, he added.

According to the NBS, in 2009, the agricultural sector contributed 3.55 trillion CHY, up 4.2 percent from a year earlier; the industrial sector stood at 15.7 trillion CHY, up 9.5 percent, while the service sector added 14.29 trillion CHY, up 8.9 percent.

"Last year was the most difficult time for China's economy in the new century," stated Ma Jiantang, adding that thanks to the implementation of a proactive fiscal policy and a moderately loose monetary policy, as well as the stimulus package adopted by the government, the country has begun to recover from the impact of the global economic crisis.

China’s economy is expected to grow rapidly and stably in 2010 amid the world’s improving economic outlook and increasing domestic investment and consumption, Ma Jiantang said./.