(MENAFN) Initial calculations were conducted on China's last year's GDP, putting it at 7.4 percent, but recent studies revised the result to USD10 trillion, dropping USD5 billion to 7.3 percent from the previous figures.
In more detail, the GDP calculations are done three times each year; the preliminary calculation, followed by the preliminary verification and then the final verification, which is released three months later.
Moreover, the contraction which affected the annual expansion for China was mainly due to housing slowdown, bringing down domestic demand and unsteady exports, and things got worse with growth hitting 7 percent in 2015's first half.
However, China's top economic planner on Monday said the world's second largest economy is steadying and turning for the better, citing stabilizing rail freight and a warming property market as proof for the enhancement.
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