Steer the New Normal with New Development Philosophy and Write a New Chapter with New Practices -- Splendid Achievements in Social and Economic Development since the 18th CPC National Congress
National Bureau of Statistics of China2017-10-10 10:00




Steer the New Normal with New Development Philosophy

and Write a New Chapter with New Practices

Splendid Achievements in Social and Economic Development

since the 18th CPC National Congress

 

October 10, 2017

National Bureau of Statistics of China

 

Since the 18th National Congress of the Communist Party of China, facing with the profound changes of the global and domestic conditions, the Chinese people of all ethnic groups, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, have upheld the great banner of socialism with Chinese characteristics, promoted balanced economic, political, cultural, social and ecological progress and coordinated implementation of the four-pronged comprehensive strategy, firmly established and implemented the new development philosophy; adapted to, approached in the right way and steered the new normal in economic development, adhered to the general work guideline of making progress while working to keep performance stable; made concerted efforts, risen to the difficulties, blazed new trails in a pioneering spirit and forged ahead in accordance with the decisions and arrangements made by the CPC Central Committee and the State Council. As a result, great achievements have been made in China's economic and social development, important victories have been obtained in building a moderately prosperous society in all respects, and new prospects have been opened up for the development of the great cause of socialism with Chinese characteristics, which have laid a solid foundation for the fulfillment of the Two Centenary Goals and the Chinese dream of rejuvenating the Chinese nation.

 

1. The Economic Performance Remained within Proper Range with Further Enhanced Comprehensive National Strength and International Influence.

 

The economy maintained medium-to-high speed of growth. From 2013 to 2016, the average annual growth of GDP was 7.2 percent, higher than the average 2.6 percent growth of the world economy and the average 4 percent growth of the developing countries, which meant that the average annual increment was 4,441.3 billion yuan (at 2015 constant prices). In the first half of this year, China’s economy made steady progress with sound momentum. China’s GDP grew by 6.9 percent year on year, a growth rate maintained within the range of 6.7 percent to 6.9 percent for eight consecutive quarters.

 

The employment continued to expand. From 2013 to 2016, the newly employed persons in urban areas were over 13.00 million for four years in a row and from January to August this year, the newly employed persons in urban areas was 9.74 million. From 2013 to 2016, the surveyed unemployment rate in urban areas for 31 big cities was generally around 5 percent and was 4.83 percent in September this year, the lowest since 2012. From 2013 to 2016, the total number of rural migrant workers grew by 1.8 percent annually on average and by the end of the second quarter this year, the number of rural migrant workers grew by 2.1 percent year-on-year.

 

The prices were stable. From 2013 to 2016, the average annual growth of consumer price was 2.0 percent. From January to August this year, the consumer price grew by 1.5 percent year-on-year. In the past few years, the average annual economic growth was 7.2 percent accompanied by 2 percent inflation rate and  5 percent surveyed unemployment rate, such economic operation featuring high speed of growth, expanded employment and low prices was estimable and an outstanding achievement in the world.

 

China’s comprehensive national strengthen was constantly enhanced. In 2016, China’s GDP reached 74 trillion yuan, 1.32 times of that in 2012 at constant prices; the general public budget revenue was almost 16 trillion yuan, 1.36 times of that in 2012; the output of a number of industrial and agricultural products, such as cereal, meat, peanut, steel and automobiles, ranked the first in the world; the length of high-speed railways reached 23 thousand kilometers, ranking the first in the world; by the end of 2016, China’s foreign exchange reserve exceeded 3 trillion US dollars and by the end of August this year, the number reached 3.09 trillion US dollars, continuously ranking the first in the world. In 2016, China’s Gross National Income (GNI) per capita reached 8,260 US dollars. On the GNI per capita ranking of 216 countries (and regions) publicized by the World Bank, China moved up from 112nd in 2012 to 93rd in 2016. 

 

The international influence was enhanced notably. In 2016, China’s GDP was 11.2 trillion US dollars, taking up 14.8 percent of the world economy, 3.4 percentage points higher than that in 2012, which has made China the second largest economy in the world. From 2013 to 2016, the contribution of China’s economy to the world economic growth stood at around 30 percent on average, surpassing the total contribution of the United States, Eurozone and Japan. China has become the biggest contributor to the world economic growth.

 

2. The Innovation-Driven Development Strategy was Deeply Implemented and the Shift from the Old Driving Forces to the New Ones Accelerated.

 

Major breakthroughs were made in scientific and technological innovation which gained stronger support from the government. In 2016, the expenditures on research and development activities (R&D) reached 1,567.7 billion yuan, an increase of 52.2 percent compared with 2012, and its ratio to the GDP was 2.11 percent, 0.2 percentage point higher than that in 2012. A number of landmark achievements in science and technology, such as quantum communication, high-speed railway, manned spaceflight, lunar exploration program, radio telescope, giant aircraft, manned deep-sea submersible and super computer, kept springing up.

 

Business startups and innovations by the general public flourished. With the deepening of the reform of the business systems and the reform to streamline administration, delegate more powers to lower-level government and society, improve regulation and optimize services, the multiplier effect of pooling the wisdom and strength of the public was unfolding. From 2014 to 2016, there were over 44.00 million newly registered market entities nationwide, 13.62 million of which were newly registered enterprises, an annual average increase of 30 percent. From January to August this year, 3.99 million enterprises were newly registered and in August, 17 thousand enterprises were newly registered per day. The number of patent applications and authorizations increased sharply. In 2016, the number of domestic and overseas patent applications and authorizations increased by 69.0 percent and 39.7 percent respectively compared with 2012. 

 

China’s development moved towards medium-to-high end. While the new driving forces grew rapidly and robustly, the transformation of traditional industries accelerated. From 2015 to 2016, the online retail sales of physical goods increased by 28.6 percent annually on average, 18.1 percentage points faster than the total retail sales of consumer goods. From January to August this year, the online retail sales of physical goods increased by 29.2 percent year-on-year, 18.8 percentage points faster than the total retail sales of consumer goods. In 2016, the express delivery service delivered 31.3 billion parcels, 5.5 times of that in 2012 and an annual average increase of 53.2 percent. From January to August this year, the number of parcels delivered by the express delivery service increased by 30.2 percent year-on-year. New business models, such as platform economy, sharing economy and collaborative economy, were widely penetrated, and new types of business, such as on-and off- line interaction, cross-border e-commerce, smart home and smart communication, were burgeoning. Plans and initiatives such as “Made in China 2025” and “Internet Plus” were effectively implemented. From 2013 to 2016, the investment in industrial technological transformation grew by 13 percent annually on average among which the investment in technological transformation of manufacturing industry grew by14.3 percent.

 

3. The Supply-Side Structural Reform Advanced Steadily with Accelerated Transformation and Upgrading.

 

The supply-side structural reform achieved remarkable results. The reduction of overcapacity went on well. In 2016, the production capacity of steel and coal were cut by over 65 million tons and over 290 million tons, which had beat the annual targets. From January to July this year, the target for reducing the overcapacity of steel was completed; the production capacity of coal was reduced by 128 million tons, fulfilling 85 percent of the whole year’s target. The efforts to reduce inventory was effective. By the end of 2016, the floor space of commercial buildings for sale reduced by 3.2 percent year-on-year, among which the floor space of residential buildings for sale reduced by 11.0 percent. By the end of August this year, the floor space of commercial buildings for sale reduced by 12 percent year-on-year. The efforts to deleverage made steady progress. By the end of 2016, the debt-to-asset ratio of industrial enterprises above the designated size was 55.8 percent, 0.4 percentage point less than the end of last year. By the end of August this year, the debt-to-asset ratio of industrial enterprises above the designated size was 0.7 percentage point less than the same period last year. The efforts to lower costs were noticeable. In 2016, the cost for per-hundred-yuan turnover of principal activities of industrial enterprises above the designated size was 85.52 yuan, 0.1 yuan less than previous year. From January to August this year, the cost for per-hundred-yuan turnover of principal activities of industrial enterprises above the designated size was 0.12 yuan less than the same period last year. The efforts to strengthen the areas of weakness enjoyed remarkable highlights. Investment in areas such as eco-environment protection, agriculture, water conservancy, and strategic emerging industries, increased rapidly and major initiatives were undertaken which would help to meet urgent needs at present and promise long-term benefits. From January to August this year, the investment in ecological protection and environmental governance, management of public facilities and agriculture increased by 28.2 percent, 24.3 percent and 16.1 percent respectively. The supply-side structural reform in agriculture was steadily pushed forward. In 2016, the grain production reached 616.25 million tons, maintaining above 0.6 trillion kilograms for four years in a row. The production distribution became more concentrated in the advantageous areas. 

 

The service industry accounted for half of the national economy. In 2016, the value added of the tertiary industry took up 51.6 percent of GDP, 6.3 percentage points higher than that in 2012; in the first half of this year, the value added of the tertiary industry took up 54.1 percent of GDP. From 2013 to 2016, the value added of the service industry witnessed an average annual growth of 8.0 percent, 0.8 percentage point faster than the growth of GDP; in the first half of this year, the value added of the service industry increased by 7.7 percent year-on-year. The “Made in China 2025” Initiative was fully implemented and the industrial upgrading stepped up. From 2013 to 2016, the value added of the manufacturing of equipment and the high technology industry saw an average annual increase of 9.4 percent and 11.3 percent in real terms, 1.9 percentage points and 3.8 percentage points higher than the industry above the designated size. From January to August this year, the value added of the manufacturing of equipment and the high technology industry saw an increase of 11.4 percent and 13.0 percent year-on-year, 4.7 percentage points and 6.3 percentage points higher than the industry above the designated size.

 

Consumption became the major driving force for the economic growth. From 2013 to 2016, the final consumption expenditure contributed to 55 percent of the economic growth annually on average, 8.5 percentage points higher than the capital formation, indicating that economic growth was driven by domestic demands. In the first half of this year, the final consumption expenditure contributed to 63.4 percent of the economic growth. In 2016, the ratio between the final consumption and GDP was 53.6 percent, 3.5 percentage points higher than that of 2012; the capital formation rate was 44.2 percent, 3 percentage points lower. The proportion between consumption and investment became more rational with domestic demands taking up a big share of the total economy.

 

The coordinated development of the urban and rural areas assumed new aspect. By the end of 2016, China’s urbanization rate was 57.35 percent, 4.78 percentage points higher than that by the end of 2012. The equalization of public services in urban and rural areas improved steadily and the gap between urban and rural areas continued to narrow down. In 2016, the income ratio between the urban and rural areas was narrowed by 0.16 compared with 2012 and in the first half of this year, the ratio was narrowed by 0.01 compared with the same period last year. New measures of the Four-Region Strategy, refer to the development of the western region, the revitalization of the northeastern region, the rise of the central region and the leading role in development taken by the eastern region were launched, the Three Initiatives of the Belt and Road Initiative, the Beijing-Tianjin-Hebei Integration Initiative and the Yangtze Economic Belt Initiative were promoted, the Xiongan New Area was planned and established and the national and regional central cities developed rapidly. All of these suggested new growth poles and belts were taking shape. From 2013 to 2016, the average growth rates for the eastern, central, western and northeastern regions were 8.2 percent, 8.7 percent, 9.2 percent and 5.3 percent and the per capita regional GDP ratio between the highest province and the lowest one was narrowed from 4.38:1 to 4.28:1.

 

4. Efforts in Energy Conservation and Environmental Protection Enhanced and Ecological Development was Further Strengthened.

 

Energy conservation and new energy development yielded new achievements. In 2016, the energy and water consumption per unit of GDP was reduced by 17.9 percent and 25.3 percent compared with 2012; in the first half of 2017, the energy consumption per unit of GDP was reduced by 3.9 percent year-on-year. By the end of 2016, the installed nuclear power generation capacity reached 33.64 million kilowatts, an increase of 167.6 percent compared with 2012; the grid-connected wind power generation capacity reached 147.47 million kilowatts, an increase of 140.1 percent; the grid-connected solar power generation capacity reached 76.31 million kilowatts, an increase of 21.4 times.

 

The efforts in environmental protection and pollution control increased significantly. In 2015, the chemical oxygen demand emission decreased by 8.3 percent compared with 2012, ammonia emissions was down by 9.3 percent, sulfur dioxide emission dropped by 12.2 percent and nitrogen oxides emission went down by 20.8 percent. In 2016, 24.9 percent of the 338 cities under monitoring reached the air quality standard, 3.3 percentage points higher than last year; the concentration of fine particular matter (PM2.5) was 47 micrograms per cubic meter, 6.0 percent lower than last year. From January to August in 2017, the concentration of PM2.5 in 338 cities at prefecture level and above decreased by 2.3 percent year-on-year. In 2016, the seawater quality at 73.4 percent of the monitoring sites for offshore seawater quality reached Class I or II of the national seawater quality standard, 4.0 percentage points higher than 2012; 16.3 percent were Class IV or Inferior Class IV, 7.6 percentage points lower than 2012.

 

Ecological environmental governance achieved notable results. In 2016, the completed afforestation areas were 7.20 million hectares nationwide, an increase of 28.7 percent compared with 2012; an additional 5.62 million hectares was under soil erosion control, an increase of 28.6 percent compared with 2012. By the end of 2016, the urban household waste treatment rate was 96.6 percent, 11.8 percentage points higher; the green coverage rate of urban built-up areas was 36.4 percent, 0.7 percentage point higher. The comprehensive treatment capacity of the urban environment was increased.

 

5. “Bring in” and “Go Global” Enlarged in Parallel, and Opening up Advanced to Higher Level.

 

Imports and Exports shifted to higher quality from quantity expansion. The total value of imports and exports of goods in 2016 reached 24.3 trillion yuan, accounting for more than 11 percent of the world’s total. The modes of trade in goods kept optimized. The proportion of general trade rose from 52.0 percent in 2012 to 55.1 percent in 2016, and further to 56.8 percent in the first eight months of 2017. In 2016, the total value of the imports and exports of services was 657.5 billion US dollars, up by 36.8 percent compared to that in 2012 with an average annual growth of 8.1 percent, and ranked second in the world. The exports of high value-added services showed strong momentum. The exports of information services and advertising services grew by 40.4 percent and 38.1 percent respectively in 2016.

 

Two-way investment reached a new level. From 2013 to 2016, the foreign capital actually utilized was 489.4 billion US dollars, with an average annual growth of 3.1 percent; the non-financial overseas direct investment by Chinese investors was 491.5 billion US dollars, an average annual increase of 21.6 percent. Foreign direct investment showed higher quality. In 2016, the foreign capital actually utilized in the services sector was 571.6 billion yuan, up by 8.3 percent over last year, of which, the foreign capital actually utilized in the high-tech services increased by 86.1 percent.

 

All-round opening up created new development space. In 2016, the total value of goods imported and exported to countries along the Belt and Road was 6.3 trillion yuan, accounting for 25.7 percent of the national total value of imports and exports of goods. In the first eight months of 2017, China’s exports to the Belt and Road Countries like Russia, India and Malaysia went up by 24.1 percent, 23.7 percent and 17.3 percent respectively. By the end of 2016, Chinese companies have set up 56 economic cooperation zones in the Belt and Road countries with accumulated investment exceeding 18.5 billion US dollars. In the first eight months of 2017, Chinese companies invested 8.55 billion US dollars in 52 Belt and Road countries, taking up 12.4 percent of China’s total overseas investment and 4.3 percentage points higher than that in the same period of 2016. A number of major projects and international industrial-capacity cooperation were launched, the “go global” of high-speed railway and nuclear power were pushed forward substantially and the construction of free trade zones was further accelerated.

 

6. People’s Livelihood Was Improved Remarkably and Everyone Shared the Fruits of Development.

 

Living standards saw continuous improvement. In 2016, the national per capita disposable income was 23,821 yuan, an increase of 7,311 yuan compared to that of 2012 or a real annual increase of 7.4 percent in average. In the first half of 2017, the national per capita disposable income grew by 7.3 percent in real terms year-on-year, 0.4 percentage point faster than that of the GDP and 0.9 percentage point faster than that of the per capita GDP. Consumption upgrading stepped up. In 2016, the Engel’s Coefficient nationwide was 30.1 percent, down by 2.9 percentage points over 2012 and close to the well-off line of 20 to 30 percent according to the UN standards; the proportions of expenses on transportation and communications, education, culture and recreation, and health care and medical services to the consumption expenditure increased by 2.0 percentage points, 0.7 percentage point and 1.3 percentage points respectively as compared with that in 2012.

 

Targeted poverty reduction and elimination made notable progress. According to the rural poverty line of annual per capita income of 2,300 yuan (at 2010 constant prices), the population in poverty in rural areas numbered 43.35 million in 2016, or 55.64 million less than that in 2012; the impoverishment rate decreased to 4.5 percent, down by 5.7 percentage points compared to that of 2012. From 2013 to 2016, the per capita disposable income of rural households in impoverished areas grew by 10.7 percent in real terms, 2.7 percentage points faster than that of the total rural households in the country. The income of rural households in impoverished areas grew faster than that of the whole nation.

 

Social security system was established and improved. At the end of 2016, the numbers of people joining the basic endowment insurance, urban basic health insurance, unemployment insurance, work injury insurance and maternity insurance increased by 99.80 million, 207.50 million, 28.64 million, 28.79 million and 30.22 million respectively as compared with that at the end of 2012. Substantial progress was made in the integration of basic health insurance system for urban and rural residents. In 2016, the proportion of personal health payment to total health expenditure dropped to less than 30 percent. The basic health insurance achieved full coverage and a social security system covering urban and rural residents was basically established.

 

Social undertakings enjoyed comprehensive development. The education level of residents kept rising. The average number of years of schooling received by the population aged 15 and over increased from 9.05 years in 2010 to 9.42 years in 2015. Medical and health conditions continued to improve. China’s average life expectancy increased to 76.34 years in 2015 from 74.83 years in 2010. The infant mortality rate dropped from 10.3 per thousand in 2012 to 7.5 per thousand in 2016 and the maternal mortality rate dropped from 24.5 per 100,000 to 19.9 per 100,000. The cultural and sports programs speeded up.

 

In general, since the 18th CPC National Congress, and under the strong leadership of the Central Committee of the Communist Party of China with Comrade Xi Jinping at its core, we the Chinese people have risen to the challenge and worked hard to press ahead with an innovative and enterprising spirit, and made new contributions and impressive improvement in the course of building a moderately prosperous society in all respects and the rejuvenation of the Chinese nation. At the next step, we will rally even closer around the CPC Central Committee with Comrade Xi Jinping at its core, hold high the banner of socialism with Chinese characteristics, have every confidence in the socialist road with Chinese characteristics, in our theories, in our system and in the Chinese culture. We shall make persistent efforts with greater inspirations to push forward the great struggle, undertaking and course of socialism with Chinese characteristics, and work with tireless dedication to achieve the two centenary goals, and realize the Chinese dream of the great rejuvenation of the Chinese nation.

 

 

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

 

 

 

 

 

 

 

 

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