Chinese economy's "mid-year-test" report card
When people across China and elsewhere in the world are waiting eagerly but joyously in the sweltering heat of this mid-summer for the incoming 2008 Beijing Olympic Games, a "mid-year-test" report card of Chinese economy is presented to us: China's GDP is up 10.4 percent in the first half of 2008, ranking the first among all the nations worldwide; the country's CPI rises by 7.9 percent in the first half year, and its GDP overtakes CPI. And what merits special attention is that the GDP growth rate is 1.8 percentage points lower year-on-year.
Moreover, the export growth rate, one component part of the "troika" (herely vividly refers GDP, CPI and export growth), drops 5.7 percent in the first six months of 2008, the first time ever since China's entry into the World Trade Organization (WTO) in December 2001. This seems to be somewhat grief amid our joy or good fortune.