National Economy Maintained a Steady Performance with Good Growth Momentum in April
National Bureau of Statistics of China2017-05-15 10:00




National Bureau of Statistics of China

15 May 2017

 

In April, with all regions and departments earnestly implementing the decisions and arrangements made by the Central Committee of the Communist Party of China and the State Council, national economy sustained an overall steady performance with good growth momentum. The production sector grew steadily, market demand continued to expand, employment registered persistent progress, consumer price rose mildly, supply-side structural reform was pushed forward, and the shift between old and new driving forces quickened, therefore the quality and efficiency of economic development were further improved.

 

1. Industry Grew Steadily and Enterprise Profits Grew Rapidly.

 

In April, the total value added of the industrial enterprises above designated size grew by 6.5 percent in real terms year-on-year, 1.1 percentage points lower than that of last month, or 0.5 percentage point higher than that in April last year. An analysis by types of ownership showed that the value added of state holding enterprises went up by 5.6 percent year-on-year; collective enterprises up by 1.9 percent; share-holding enterprises up by 6.9 percent; and enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan up by 5.5 percent. The value added of mining industry was down by 0.4 percent year-on-year; manufacturing up by 6.9 percent and production and supply of electricity, heat, gas and water up by 7.8 percent. The industrial structure continued to improve. The value added of high-tech industry and equipment manufacturing industry grew by 12.3 percent and 10.3 percent year-on-year respectively, 5.8 percentage points and 3.8 percentage points higher than that of the industrial enterprises above designated size. The sales ratio of industrial enterprises above designated size was 97.6 percent. In April, the total value added of the industrial enterprises above designated size was up by 0.56 percent month-on-month. In the first four months, the value added of the industrial enterprises above designated size grew by 6.7 percent year-on-year.

 

In the first three months of 2017, the total profits made by industrial enterprises above designated size was 1,704.3 billion yuan, up by 28.3 percent year-on-year. The costs for per-hundred-yuan revenue from principle business of industrial enterprises above designated size reached 85.25 yuan, down by 0.15 yuan year-on-year. The profit rate from principle business was 6.13 percent, up by 0.68 percentage point year-on-year. At the end of March, the debt-to-asset ratio of industrial enterprises above designated size was 56.2 percent, a year-on-year decrease of 0.7 percentage point.

 

2. Service Sector Maintained Fast Growth and Continued to Expand.

 

In April, the Index of Services Production increased by 8.1 percent year-on-year, 0.2 percentage point lower than that of last month, maintaining the high level of over 8 percent since this year. In the first four months, the Index of Services Production increased by 8.2 percent year-on-year. Information transmission, software and information technology services, transport, storage and postal services, and rental and business services sustained fast growth momentum.

 

In April, business activity index for services stood at 52.6 percent, 1.6 percentage points lower than that of last month and 0.1 percentage point higher than that in the same month of last year, still above the threshold value of 50 percent. Specifically, the business activity index for sectors such as retail trade, railway transport, air transport, postal services, accommodation, telecommunications, broadcast, television and satellite transmission services, and internet and software information technology services stayed within the relatively prosperous range of 55 percent and above.

 

3. Investment in Fixed Assets Witnessed Steady Growth while Infrastructure Investment Grew Fast.

 

In the first four months, the total investment in fixed assets (excluding rural households) was 14,432.7 billion yuan, a year-on-year growth of 8.9 percent, or 0.3 percentage point lower than that of the first three months. Of the total, the investment by state holding enterprises reached 5,147.6 billion yuan, an increase of 13.8 percent; private investment reached 8,805.3 billion yuan, up by 6.9 percent, accounting for 61.0 percent of the total investment. The investment in the primary industry reached 393.1 billion yuan, up by 19.1 percent year-on-year; that in the secondary industry was 5,459.6 billion yuan, up by 3.5 percent, of which, that in manufacturing was 4,537.9 billion yuan, up by 4.9 percent; the investment in the tertiary industry was 8,580.1 billion yuan, up by 12.1 percent. The investment in infrastructure reached 2,978.9 billion yuan, up by 23.3 percent. The investment in the high-tech industry grew by 22.6 percent, or 13.7 percentage points higher than the growth rate of total investment. The funds in place for investment in fixed assets were 15,579.3 billion yuan, down by 1.4 percent year-on-year. The total planned investment in newly-started projects was 10,791.1 billion yuan, a year-on-year decrease of 5.9 percent. In April, the investment in fixed assets (excluding rural households) grew by 0.71 percent month-on-month.

 

4. The Investment in Real Estate Development Continued to Increase and the Floor Space of Commercial Buildings for Sale Decreased Further.

 

In the first four months, the total investment in real estate development was 2,773.2 billion yuan, a year-on-year growth of 9.3 percent, 0.2 percentage point higher than that of the first three months. Of the total, the investment in residential buildings went up by 10.6 percent. Floor space of houses newly started was 482.40 million square meters, up by 11.1 percent year-on-year. Specifically, the floor space of residential buildings newly started increased by 17.5 percent. The floor space of commercial buildings sold reached 416.55 million square meters, up by 15.7 percent year-on-year. Of this total, that of residential buildings went up by 13.0 percent. The sales of commercial buildings were 3,322.3 billion yuan, up by 20.1 percent year-on-year. Of this total, the sales of residential buildings grew by 16.1 percent. The land space purchased by real estate development enterprises was 55.28 million square meters, up by 8.1 percent year-on-year. At the end of April, the floor space of commercial buildings for sale was 674.69 million square meters, 13.41 million square meters less than that at the end of March. The funds in place for real estate development enterprises in the first four months reached 4,722.1 billion yuan, up by 11.4 percent year-on-year.

 

5. The Growth of Market Sales was Stable and the Proportion of Online Retailing Went up.

 

In April, the total retail sales of consumer goods reached 2,727.8 billion yuan, a year-on-year increase of 10.7 percent, which was 0.2 percentage point lower than that of last month and 0.6 percentage point higher than that in the same month of last year. Analyzed by different areas, the retail sales in urban areas reached 2,348.3 billion yuan, up by 10.4 percent year-on-year, and those in rural areas amounted 379.5 billion yuan, up by 12.6 percent. Grouped by consumption patterns, the total income of catering industry was 288.6 billion yuan, up by 11.1 percent year-on-year; and retail sales of goods were 2,439.3 billion yuan, up by 10.6 percent. In particular, the retail sales of units above designated size reached 1,153.2 billion yuan, up by 9.3 percent. In April, the total retail sales of consumer goods increased by 0.79 percent month-on-month. In the first four months, the total retail sales of consumer goods went up by 10.2 percent year-on-year.

 

In the first four months, the online retail sales reached 1,918.0 billion yuan, up by 32.0 percent year-on-year. Of the total, the retail sales of physical goods were 1,461.7 billion yuan, an increase of 25.9 percent, accounting for 12.9 percent of the total retail sales of consumer goods, or 1.8 percentage points higher than that in the same period of last year.

 

6. Consumer Price Rose Mildly While the Increase of Producer Prices for Industrial Products Slowed Down.

 

In April, the consumer price went up by 1.2 percent year-on-year, which was 0.3 percentage point higher than that in March. Grouped by categories, prices for food, tobacco and liquor dropped by 1.8 percent; clothing up by 1.3 percent; housing went up by 2.4 percent; articles and services for daily use grew by 0.8 percent; transportation and communication increased by 1.8 percent; education, culture and recreation grew by 2.6 percent; health care up by 5.7 percent; and other articles and services grew by 3.4 percent. In terms of food, tobacco and liquor prices, that for grain grew by 1.5 percent, pork down by 8.1 percent and fresh vegetables down by 21.6 percent. In April, the consumer price went up by 0.1 percent month-on-month. In the first four months, the consumer price went up by 1.4 percent year-on-year.

 

In April, the producer prices for industrial products grew by 6.4 percent year-on-year, 1.2 percentage points lower than that in last month, or down by 0.4 percent month-on-month. In the first four months, the producer prices for industrial products increased by 7.2 percent year-on-year. In April, the purchasing prices for industrial producers increased by 9.0 percent year-on-year, or down by 0.3 percent month-on-month. In the first four months, the purchasing prices for industrial producers increased by 9.3 percent year-on-year.

 

7. Imports and Exports Grew Rapidly and Mechanical and Electrical Products Occupied a Large Portion of Exports.

 

In April, the total value of imports and exports reached 2,220.5 billion yuan, a year-on-year increase of 16.2 percent. The total value of exports was 1,241.4 billion yuan, up by 14.3 percent; and that of imports was 979.1 billion yuan, up by 18.6 percent. The trade surplus was 262.3 billion yuan. The total value of imports and exports of the first four months reached 8,420.5 billion yuan, a year-on-year increase of 20.3 percent. Of the total, the value of exports was 4,567.8 billion yuan, up by 14.7 percent, in which that of the mechanical and electrical products accounted for 57.7 percent. The total value of imports was 3,852.7 billion yuan, up by 27.8 percent.

 

In April, the export delivery value of the industrial enterprises above designated size reached 1,019.2 billion yuan, up by 10.8 percent year-on-year. In the first four months, the export delivery value of the industrial enterprises above designated size reached 3,830.6 billion yuan, up by 10.3 percent year-on-year.

 

As a whole, the national economy in April maintained steady performance and good growth momentum with positive factors accumulating. However, we should be aware that domestic and international conditions remain complex and volatile, structural contradictions have not been addressed fully and some emerging issues need to be followed closely. At the next stage, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at its core, we will stay committed to the underlying principle of making progress while maintaining stability, focus on supply-side structural reform, expand aggregate demand as appropriate, strengthen the role of innovation in driving development, enhance expectations guiding, and make efforts to maintain stable growth, promote reform, make structural adjustments, improve living standards, and guard against risks so as to ensure the stable and sound development of national economy.

 

Notes:

 

1. The growth rate of value added of industrial enterprises above designated size and its sub-items are real growth at comparable prices. The growth rates of other indicators are nominal growth at current prices, unless otherwise specified.

 

2. Industrial enterprises above designated size are industrial enterprises with annual revenue from principal business over 20 million yuan.

 

3. To reflect timely the monthly performance of economic activities in services sector, the National Bureau of Statistics of China compiled the Index of Services Production, and disseminated the information since March 2017. The Index of Services Production reflects the output changes between reporting period and base period after excluding price factors.

 

4. Units above designated size in total retail sales of consumer goods include wholesale enterprises, retail enterprises and lodging and catering enterprises with annual revenue from principal business over 20 million yuan, 5 million yuan and 2 million yuan respectively.

 

The online retail sales refer to the retail sales of goods and services realized through internet trading platforms (including self-built websites and third-party platforms). Goods and services include physical goods and non-physical goods (e.g. virtual goods, services).

 

The total retail sales of consumer goods include the online retail sales of physical goods, and exclude that of non-physical goods.

 

5. Data of imports and exports are from the General Administration of Customs.

 

6. Due to the rounding-off reasons, the subentries may not add up to the aggregate totals.

 

 

In case of any differences between English translation and the original Chinese text, the Chinese edition shall prevail.

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