The main priority for the ruling Chinese Communist Party (CCP) in 2008-09 will be to maintain political and economic stability, especially during the Olympic Games in the capital, Beijing, due to be held in August 2008. Following the CCP congress in October 2007, new policies are likely to be promulgated during the National People's Congress (the legislature) session in March 2008, focusing in particular on improving social welfare provision under the government's "harmonious society" agenda. A lower net export contribution will see GDP growth ease from an expected 11.4% in 2007 to 10.1% in 2008 and 9.2% in 2009. The government will continue in its efforts to rebalance the economy, attempting to make growth less dependent on exports and investment while introducing measures to boost consumption. The current-account surplus is forecast to remain huge, equivalent to 9.7% of GDP in 2008 and 9% in 2009. |
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| Key Reports Available for China |
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| Land area | | 9,561,000 sq km | | Population | | 1.32bn (end-2007; official estimate) | | Main towns | | Population (m) of main cities (urban areas) | | Shanghai: 15.6 Chongqing: 5.1 | | Beijing (capital): 13.1 Wuhan: 4.9 | | Guangzhou: 11.0 Harbin: 4.8 | | Shenzhen: 8.5 Shenyang: 4.4 | | Dongguan: 6.5 Chengdu: 3.8 | | Tianjin: 5.2 Zhengzhou: 3.5 | | Climate | | Continental, with extremes of temperature; subtropical in the south-east | | Weather in Shanghai (altitude 4 metres) | | Hottest months, July and August, 23-33°C (average daily minimum and maximum); coldest month, January, -1 to 9°C; driest month, September, less than 5 mm average rainfall; wettest month, June, 160-165 mm average rainfall | | Language | | Mainly putonghua, or Standard Chinese, based on northern Chinese (the Beijing dialect known as Mandarin); local dialects and languages are also used | | Measures | | The metric system is used alongside certain standard Chinese weights and measures, of which the most common are: | | Currency | | Renminbi (Rmb), or yuan; 1 yuan=10 jiao=100 fen. Average exchange rate in 2007: Rmb7.61:US$1. Exchange rate on December 12th 2008: Rmb6.85:US$1 | | Fiscal year | | January-December | | Time | | Eight hours ahead of GMT | | Public holidays | | New Year, January 1st-2nd; Chinese New Year, January 25th-27th; Qingming Festival, April 4th-6th; Labour Day, May 1st; Dragon Boat Festival, May 28th-29th; National Day and Mid-Autumn Festival, October 1st-8th |
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