China's Statistics Bureau to release 1st quarter GDP and growth statistics

SHOTLIST Beijing - 16 April, 2009 1. Wide of news conference by the Chinese National Bureau of Statistics 2. Cutaway of journalists 3. SOUNDBITE: (Mandarin) Li Xiaochao, Spokesman for National Bureau of Statistics: "The overall national economy showed positive changes with better performance than expected. According to preliminary estimation, the gross domestic product of China in the first quarter of this year was 6,574.5 (b) billion yuan (963.675 (b) billion US dollars), a year on year increase of 6.1 percent, which is 4.5 percentage points lower than that in the same period last year." 4. Cutaway of journalists 5. SOUNDBITE: (Mandarin) Li Xiaochao, Spokesman for National Bureau of Statistics: "The foreign trade dropped sharply and the foreign direct investment actually utilised, decreased. The total value of imports and exports for the first quarter was 428.7 (b) billion US dollars, down by 24.9 percent year on year." 6. Cutaway of journalists 7. SOUNDBITE: (Mandarin) Li Xiaochao, Spokesman for National Bureau of Statistics: "The above positive results demonstrate that our macroeconomic measures are showing some effect. It shows that our national economy is showing positive signs. Moreover, it shows that the central government's stimulus package is the correct one, it is an effective one. People across China are showing a good spirit, determination and confidence to overcome the difficult moments." 8. Cutaway of cameras 9. SOUNDBITE: (Mandarin) Li Xiaochao, Spokesman for National Bureau of Statistics: "At the moment the domestic and the foreign economy is experiencing a difficult moment. The situation is grave. We need to be vigilant, and react according to the changes taking place abroad. We need to be ready to react to the effect on our economy. Good measures need to be extended, bad ones dropped. It is better to expect the worst and to be ready to react accordingly." FILE: Tianjin Port - 4 March, 2009 10. Wide of container being loaded onto truck 11. Various of trucks carrying containers 12. Wide of container ships FILE: Beijing - 3 March, 2009 14. Wide of supermarket interior 15. Various of people buying vegetables 16. Close of sales person in supermarket receiving money STORYLINE: China's economy grew at its slowest pace in at least a decade in the first quarter, but stronger industrial activity added to tentative signs the slump might be bottoming out amid huge stimulus spending. The world's third-largest economy grew by 6.1 percent from a year earlier as the global crisis battered trade, down from 6.8 percent in the previous quarter, the government reported on Thursday. Foreign trade and foreign direct investment is also down, according to the National Bureau of Statistics. But a spokesman stressed that the Chinese economy was nevertheless showing "positive signs" and that the economic stimulus package was working. "It shows that the central government's stimulus package is the correct one, it is an effective one. People across China are showing a good spirit, determination and confidence to overcome the difficult moments," said Li Xiaochao. Industrial output surged 8.3 percent in March from a year earlier, up from 3.8 percent growth in the first two months of the year, said Li. Investment in factories and other fixed assets soared 28.6 percent from a year earlier. Quarterly growth appeared to be the lowest in at least a decade, though China has repeatedly revised its historical data, making comparisons difficult. Analysts said the 6.8 percent rate in the previous quarter was the lowest since 2001 and possibly earlier. Beijing worries that rising job losses due to the crisis will fuel unrest and its priority is creating jobs for millions of unemployed people. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/e9ee54ab7559ab8d34b5d401b088607b Find out more about AP Archive: http://www.aparchive.com/HowWeWork