The Chinese Economy Grew 10.3% In 2010
Last year, economic output in China has eclipsed Japan to become the second largest economy with a little over 6 trillion dollars, completing a decade-long gallop, which saw the jump economies of France, Great Britain and Germany. China's growth in 2009 was 9.2%.
United States is the largest economy in the world with a 14.6 trillion dollars of GDP for 2010.
At the end of the figures come as China's President Hu Jintao will visit high profile for the United States celebrated the state dinner for U.S. President Barack Obama - the first dinner in China for over 13 years.
The summit also highlighted a number of issues between two of the world's largest economies, such as the global economic crisis, international security, environment and human rights.
Obama administration officials used the meeting with President Hu Jintao said economic progress between the two countries, Beijing announced the approval of $ 45 billion in new contracts for American companies to export products to China. Support contracts is estimated that 235.000 jobs in the U.S., according to the White House.
China's economy grew by 9.8% in the last quarter of 2010, according to China National Bureau of Statistics.
Consumer prices rose 3.3% during the period before the 3% of China. But more worrying to Beijing is the price of food rose by 7.2%.
As the economy grows, inflation is a growing concern for caregivers of China economy, "said Professor Patrick Chovanec at Tsinghua University in Beijing.
China has implemented price controls on food, but dealing with underlying inflationary pressures is a different matter, "Chovanec said." Nothing China has done so far has really addressed the matter. "
Two major U.S. economic problems are the Chinese currency, which critics say largely underestimated, and better access to U.S. firms thriving in China.
Obama rejected the journalists 'questions' U.S. fears the growing power of China, saying that the explosive growth of China's economic rise is good for the world and especially U.S. companies.
We want to sell China "all sorts of things," he said.
"We welcome the rise of China," said Obama. Washington only wants to make sure it is "to strengthen international norms and standards, and increases the security and peace, on the contrary ... the source of conflict."
While the meeting focused on a number of issues, U.S. officials have continued to focus intensely on the fact that the People's Bank is controlled by the Chinese government is artificially low yuan, which reduces the cost of Chinese exports This would give an advantage in the international market.