Officials with the National Statistics Bureau said Wednesday that this year's gross domestic product is expected to break a new record of 11 trillion yuan or over US$1.3 trillion, with an economic growth rate of 8.5 percent.

They said China's economy continues to grow rapidly in spite of complicated international situations, the outbreak of SARS and frequent natural disasters. In the third quarter of this year, China's economy already recovered to its pre-SARS level.

Meanwhile, China's foreign exchange reserve hopes to hit a new high of US$400 billion this year. And the industrial production growth rate has also reached the highest level since 1995. The country's import-export volume will also exceed that of last year.

(Xinhua News Agency November 28, 2003)