National Economy Maintained Steady and Fast Development in the First Three Quarters of 2011

National Bureau of Statistics of China 2011-10-18 10:00 Print| Large| Medium| Small

Sheng Laiyun

Spokesman

National Bureau of Statistics of China

18 October 2011

 

In the first three quarters of 2011, faced with the complicated and volatile international environment and the emerging challenges in domestic economic development, the Central Party Committee and the State Council firmly carried out the pro-active fiscal policy and prudent monetary policy, continuously strengthened and improved macro control. As a result, the national economy generally carried good development state and kept moving towards the expected direction of macro economic control.

According to the preliminary estimation, the gross domestic product (GDP) of China was 32,069.2 billion yuan for the first three quarters of this year, a year-on-year increase of 9.4 percent at comparable prices. Specifically, the year-on-year growth of the first quarter was 9.7 percent, 9.5 percent for the second quarter and 9.1 percent for the third quarter. The value added of the primary industry was 3,034.0 billion yuan, up by 3.8 percent; the secondary industry 15,479.5 billion yuan, up by 10.8 percent; and the tertiary industry 13,555.7 billion yuan, up by 9.0 percent. The gross domestic product of the third quarter of 2011 went up by 2.3 percent on a quarterly basis.

 

1. Agricultural Production Went on Steadily. The total output of summer grain was 126.27 million tons, an increase of 3.12 million tons, up by 2.5 percent year-on-year. The total output of early rice was 32.76 million tons, an increase of 1.43 million tons, up by 4.5 percent year-on-year. The autumn grain is expected to achieve a good harvest and the annual output of grain will be higher than that of last year. In the first three quarters of this year, the total output of pork, beef, mutton and poultry reached 54.53 million tons, a year-on-year growth of 0.2 percent. The output of pork was 35.68 million tons, down by 0.6 percent.

 

2. Industrial Production Realized a Steady Growth. In the first three quarters of this year, the total value added of the industrial enterprises above designated size was up by 14.2 percent year-on-year at comparable prices, 0.1 percentage point lower than that in the first half of this year. An analysis by types of ownership showed that the value added growth of the state-owned and state holding enterprises went up by 10.4 percent; collective enterprises by 9.6 percent; share-holding enterprises by 16.1 percent; and enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan province by 10.9 percent. The year-on-year growth of the heavy industry was 14.6 percent, and 13.1 percent for the light industry. All the 39 industrial divisions registered year-on-year growth. The growth in eastern, central and western regions was up by 12.2 percent, 18.3 percent and 17.1 percent respectively. In the first three quarters of this year, the sales ratio of industrial enterprises above designated size was 97.9 percent, maintaining the same level in last year. In September, the total value added of the industrial enterprises above designated size was up by 13.8 percent year-on-year, or up by 1.2 percent month-on-month.

In the first eight months of this year, the profits made by industrial enterprises above designated size stood at 3,228.1 billion yuan, up by 28.2 percent year-on-year. Among the 39 industrial divisions, 38 of them registered year-on-year increase in profits, and 1 division witnessed reduction. In the first eight months of this year, the costs of primary activities of the industrial enterprises above designated size accounted for 85.1 percent of the turnover from their primary activities, which was 0.3 percentage point higher than that in the first half of 2011. In August, the profit rate of industrial enterprises above designated size from their primary activities was 5.9 percent.


3. Investment in Fixed Assets Kept a Fast Growth. In the first three quarters of this year, the investment in fixed assets (excluding rural households) was 21,227.4 billion yuan, a year-on-year growth of 24.9 percent (a real growth of 16.9 percent after deducting price factors), 0.7 percent lower than that in the first half of this year. Specifically, the investment in the state-owned and state holding enterprises reached 7,348.1 billion yuan, a rise of 12.7 percent. The investment in the primary industry, the secondary industry and the tertiary industry went up by 25.5 percent, 26.9 percent and 23.4 percent respectively. In terms of different areas, the growth in eastern, central and western regions was 22.3 percent, 29.9 percent and 29.5 percent respectively.

 

In the first three quarters of 2011, the investment in real estate development was 4,422.5 billion yuan, a year-on-year growth of 32.0 percent, or 0.9 percentage point lower than that in the first half of this year. Specifically, the investment in residential buildings reached 3,178.8 billion yuan, up by 35.2 percent. The floor space of commercial buildings sold in the first three quarters of 2011 reached 712.89 million square meters, a year-on-year growth of 12.9 percent. Specifically, the growth of residential buildings was up by 12.1 percent. In the first three quarters of this year, the sources of funds for real estate development enterprises from the current year reached 6,194.7 billion yuan, up by 22.7 percent year-on-year. In September, the national real estate climate index was 100.41.

 

4. Sales on Domestic Markets Enjoyed a Steady Growth. In the first three quarters of this year, the total retail sales of consumer goods reached 13,081.1 billion yuan, a nominal year-on-year rise of 17.0 percent (a real growth of 11.3 percent after deducting price factors), or 0.2 percentage point higher than that of the first half of this year. Specifically, the retail sales of the enterprises (units) above designated size stood at 6,016.5 billion yuan, up by 23.5 percent. Analyzed by different areas, the retail sales in urban areas reached 11,326.5 billion yuan, up by 17.1 percent, and the retail sales in rural areas stood at 1,754.6 billion yuan, up by 16.4 percent. Grouped by consumption patterns, the income of catering industry was 1,473.7 billion yuan, up by 16.5 percent; and the retail sales of goods was 11,607.4 billion yuan, up by 17.0 percent. In particular, the retail sales of the enterprises (units) above designated size reached 5,560.7 billion yuan, a year-on-year growth of 24.3 percent. Specifically, the sales of motor vehicles rose by 16.0 percent, or 18.9 percentage points lower than that in the same period of last year; that of furniture grew up by 31.4 percent, or 7.0 percentage points lower; and that of household appliances and audio-video equipment went up by 20.5 percent, or 7.6 percentage points lower. In September, the total retail sales of consumer goods rose by 17.7 percent year-on-year (a real growth of 11.0 percent after deducting price factors), or 1.35 percent month-on-month.

 

5. Urban and Rural Residents’ Income Increased Steadily. In the first three quarters of this year, the per capita total income of urban households was 17,886 yuan. Specifically, the per capita disposable income of urban population was 16,301 yuan, the nominal year-on-year growth was 13.7 percent, or a real growth of 7.8 percent year-on-year after deducting price factors. Of the per capita total income of urban households, the year-on-year growth of wage income was 11.9 percent; transferred income 11.2 percent; net income from business operation 30.4 percent; and 23.4 percent from property income. The per capita cash income of rural population was 5,875 yuan, up by 20.7 percent year-on-year, or 13.6 percent in real terms. Specifically, the growth of wage income was 21.9 percent; household operation income 20.4 percent; property income 6.2 percent; and 22.0 percent from transferred income.

 

The external and internal environment for China’s economic development is rather complicated with numerous instabilities and uncertainties. In the next phase, we should maintain the continuity and stability of the macro-control policies, and improve their prospectiveness, relevance and flexibility. We should also persist in balancing the relationships among a steady and comparatively rapid economic development, adjustment of economic structures and management of the inflation expectation; promote reform and innovation; speed up adjustment of economic structures and transformation of economic development mode; and pay more attention to social security and improvement of people’s livelihood and achieve a sound and fast economic growth.

 

Notes:

 

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


2. Approved by the State Council, the seasonally adjusted indicators of the following four will be released by the National Bureau of Statistics from April 2011: the quarterly gross domestic product (GDP), the month-on-month changes of value added of industrial enterprises above designated size, investment in fixed assets (excluding rural households), and total retails of consumer goods.

 

According to the auto-revision function of the seasonal adjustment model, GDP in the first quarter and the second quarter of 2011 and the month-on-month changes of the value added of industrial enterprises above designated size, investment in fixed assets (excluding rural households), and total retail sales of consumer goods from February to August have been revised. The revised figures and figures for September as well as GDP of the third quarter of 2011 are as follows:

The quarter-on-quarter growth of GDP in the first, second and third quarter of 2011 was 2.0 percent, 2.4 percent and 2.3 percent respectively.

Month-on-Month Changes

 

Value Added of
Industrial Enterprises
above Designated Size (%)

Investment
in Fixed Assets

(%)

Total Retail Sales of Consumer Goods (%)

 

 

 

 

February

0.98

0.75

1.34

March

1.18

1.82

1.34

April

0.97

2.36

1.32

May

1.01

0.36

1.33

June

1.42

-0.84

1.36

July

0.91

1.04

1.31

August

1.02

1.45

1.30

September

1.20

-0.16

1.35

 

 

 

 


3. Approved by the State Council, the National Bureau of Statistics raised the cut-off size of industrial and fixed assets investment statistics from January 2011. The cut-off size of industrial enterprises changed from an annual revenue from primary activities above 5 million yuan to 20 million yuan; and the cut-off size of fixed assets investment projects rose from a total planned investment above 500 thousand yuan to 5 million yuan. According to estimation, with the new coverage, the data collected on the total volume, structure and growth rates of industrial enterprises and investment in fixed assets showed a similar trend as compared with those under the former coverage.   


4. From 2011, the National Bureau of Statistics improved the monthly statistical system of fixed assets investment, expanding the coverage of the monthly statistics from urban areas to rural enterprises and institutions, and defined it as the investment in fixed assets (excluding rural households). This makes the monthly data more complete and the definition more accurate.


5. From 2011, data on the retail sales of the enterprises (units) above designated size are released. The retail sales of the enterprises (units) above designated size refer to the wholesale enterprises (units) with the revenue from primary activities above 20 million yuan, the retail enterprises (units) with the revenue from primary activities above 5 million yuan, and the lodging and catering enterprises (units) with the revenue from primary activities above 2 million yuan.


Major indicators in the first half year of 2011

Indicators

September

Jan-Sep

Absolute Magnitude

Increased YoY
(%)

Absolute Magnitude

Increased YoY
(%)

 

 

 

 

 

1. Gross Domestic Products(100 million yuan)

320692

9.4

Primary Industry

30340

3.8

Secondary Industry

154795

10.8

Tertiary Industry

135557

9.0

 

 

 

 

 

2. Agriculture

 

 

 

 

Production of Summer Grain (10,000 tons)

12627

2.5

Early Rice (10,000 tons)

 

 

3276

4.5

Pork Beef Mutton and Poultry Meat(10,000 tons)

5453

0.2

  Pork(10,000 tons)

3568

-0.6

 

 

 

 

 

3. Value-added of Industry Above Designated Size

13.8

14.2

Grouped by Light & Heavy Industry

 

 

 

 

Light Industry

12.8

13.1

Heavy Industry

14.3

14.6

Grouped by Status of Registration

 

 

 

 

  State Owned & State-holding Enterprises

9.9

10.4

  Collective-Owned Enterprises

7.2

9.6

  Joint-Stock Enterprises

16.0

16.1

  Enterprises with Funds from Hong Kong, Macao and Taiwan, and Foreign Funded Enterprises

10.1

10.9

The Value-Added of the Main Industrial Sectors

 

 

 

 

  Manufacture of Textile

8.3

7.5

  Manufacture of Chemical Raw Material and Chemical Products

14.8

15.0

  Manufacture of Nonmetal Mineral Products

18.0

18.9

Smelting and Pressing of Ferrous Metals

13.6

10.0

  Manufacture of General Purpose Machinery

14.7

18.5

  Manufacture of Transport Equipment

12.2

12.1

  Manufacture of Electrical Machinery & Equipment

13.3

15.3

  Manufacture of Telecommunications Equipment, Computers and Other Electronic Equipment

17.7

16.1

  Production and Supply of Electric Power and Heat Power

8.9

10.4

Output of Major Products

 

 

 

 

Generating Capacity (100 million kWh)

3861

11.5

34540

12.7

  Pig Iron (10,000 tons)

5208

15.7

48552

10.4

  Crude Steel (10,000 tons)

5670

16.5

52574

10.7

  Steel (10,000 tons)

7636

18.8

66729

13.9

  Cement (100 million tons)

19031

15.7

151253

18.1

  Crude Oil (10,000 tons)

3610

1.5

33352

6.0

  10 Kinds Of Nonferrous Metals (10,000 tons)

300

13.9

2586

11.2

  Ethylene (10,000 tons)

106

-18.8

1140

10.1

  Automobile (10,000 sets)

166

2.5

1397

4.5

    Of which: Autocars (10,000 sets)

93

9.5

763

9.4

Sales Ratio (%)

97.8

-0.3
(Percentage points)

97.9

0
(Percentage points)

Export Delivery Value (100 million yuan)

9086

13.9

74492

18.4

 

 

 

 

 

4. Investment in Fixed Assets (Exclude Rural Households) (100 million yuan)

212274

24.9

    Of which: State-owned and State Holding

73481

12.7

Grouped by Jurisdiction of Project Management

 

 

 

 

  Central Investment

12445

-7.5

  Local Investment

199829

27.7

Grouped by Types of Industry

 

 

 

 

  Primary Industry

4957

25.5

  Secondary Industry

92829

26.9

  Tertiary Industry

114488

23.4

Grouped by Industrial Sectors

 

 

 

 

  Extraction of Petroleum and Natural Gas

1628

1.5

  Ore Mining, Smelting and Pressing of Ferrous Metals

905

18.7

Ore Mining, Smelting and Pressing of Non-Ferrous Metal

852

17.9

Ore Mining, Processing of Non-Metallic Minerals

860

23.8

Manufacture of Non-metallic Mineral Products

7472

28.2

Smelting and Pressing of Ferrous Metals

2812

20.0

Smelting and Pressing of Non-Ferrous Metal

2765

33.2

Manufacture of General Purpose Machinery

5589

30.5

Manufacture of Transport Equipment

6061

32.1

Manufacture of Electrical Machinery & Equipment

5706

50.0

Manufacture of Telecommunications Equipment, Computers and Other Electronic Equipment

3705

39.4

Production and Supply of Electric Power and Heat Power

7925

3.4

  Railway Transportation

3521

-19.0

  Road Transportation

9531

11.6

  Management on Water Resource

2264

25.1

  Management on Public Facilities

13965

17.2

Grouped by Registration Type

 

 

 

 

  Domestic Funded

197739

25.7

  Funds from Hong Kong, Macao and Taiwan

6666

22.3

  Foreign Investment

6890

15.7

Grouped by Construction and New Projects

 

 

 

 

  Total Investment in Construction Project

557578

19.8

  Total Planned Investment in New Projects

180482

23.4

Funds in Place for Investment (Exclude Rural Households)

243950

23.2

  Government Budgetary Funds

10221

12.8

  Domestic Loans

33638

7.8

  Foreign Investment

3791

13.8

  Self-Raising Funds

161373

29.3

  Other Funds

34927

17.8

The Gross Output Value of Construction in the Whole Country

72466

25.8

The total area of housing construction in the Whole Country

69.3

23.9

 

 

 

 

 

5. Investment in Real Estate Development 

 

 

 

 

Investment in Real Estate (100 million yuan)

44225

 

  Of which: Residential Buildings

31788

32.0

Floor Space under Construction (10,000 sq.m)

460786

35.2

Of which: Residential Buildings

353099

29.7

Floor space of houses newly started (10,000 sq.m)

147775

28.1

Of which: Residential Buildings

114480

23.7

Floor Space of Buildings Completed (10,000 sq.m)

43456

21.3

Of which: Residential Buildings

34845

17.8

Floor Space of Commercial Buildings Sold (10,000 sq.m)

71289

16.6

Of which: Residential Buildings

63604

12.9

         Office Buildings

1326

12.1

         Buildings for Commercial Business

4624

17.0

Sales of Commercial Buildings (10,000 sq.m)

39312

19.3

Of which: Residential Buildings

32694

23.2

         Office Buildings

1781

21.2

         Buildings for Commercial Business

4071

35.1

Sources of Funds for Real Estate Development Enterprises

 (100 milliaon yuan)

61947

33.8

  Of which: Domestic Loans

9749

22.7

         Foreign Investment

679

3.7

         Self-raising Funds

25535

50.1

         Other Sources

25985

33.5

         Of Which: Deposits and advantage payments

15761

20.7

Personal mortgage loans

6186

29.3

 

 

 

 

 

6. TotalRetail Sales of Consumer Goods (100 million yuan)

15865

17.7

130811

17.0

 Of which: Retail Sales of the Enterprises (units) above Designated Size

7550

24.7

60165

23.5

Grouped by Different Areas

 

 

 

 

  Cities

13543

17.8

113265

17.1

  At and Below County Level

2323

17.3

17546

16.4

Grouped by Consumption Patterns

 

 

 

 

  Catering Services

1814

17.1

14737

16.5

   Of which: Income of Catering Services of the Enterprises (units) above Designated Size

574

19.7

4559

18.8

  Retail Goods

14051

17.8

116074

17.0

Of which: Income of Retail Goods of the Enterprises (units) above Designated Size

6976

25.1

55607

24.3

    Of Which: Grain, Oil, Foodstuff, Beverages, Tobacco, and Liquor

945

24.4

7434

25.2

    Garments, Footwear, Hats, Knitwear

645

27.6

5450

24.8

    Cosmetics

96

19.5

793

19.5

    Gold and Silver Jewelry

152

38.5

1354

47.8

    Commodities

248

22.0

1990

24.7

    Sports and Recreation Articles

31

1.3

266

13.0

    Household Appliances and AV Equipment

445

19.5

3831

20.5

    Traditional Chinese and Western Medicines

346

18.0

2676

20.2

    Cultural and Office Appliances

     164

35.3

1108

24.5

    Furniture

     105

33.6

801

31.4

    Communication Appliances

      96

24.8

766

27.8

    Petroleum and Related Products

1286

38.7

10570

39.3

    Automobile

1902

18.7

14823

16.0

Building and Decoration Materials

130

26.5

923

17.0

 

 

 

 

 

7. CPI

6.1

5.7

Of which: Urban

5.9

5.5

       Rural

6.6

6.2

Of which: foodstuff

13.4

12.5

       Non-foodstuff

2.9

2.8

Of which: Consumer Goods

7.3

6.4

       Services

3.0

3.8

Grouped by Commodity Categories

 

 

  Foodstuff

13.4

12.5

  Tobacco, Liquor and its Articles

3.4

2.5

  Clothing

3.2

1.6

  Household Facilities, Articles and Maintenance Services

3.0

2.2

  Health Care and Personal Articles

4.1

3.4

  Transportation and Communication

1.0

0.5

  Recreational, Educational, Cultural Articles and Services

0.0

0.5

  Housing

5.1

6.0

 

 

 

 

 

8. Producer Prices For Manufactured Goods

6.5

7.0

Means of Production

7.1

7.8

Mining and Quarrying

17.2

16.7

Raw Materials

10.6

10.7

Processing

4.6

5.7

Means of Livelihood

4.6

4.5

  Foodstuff

8.2

8.0

  Clothing

4.5

4.3

  Articles for Daily Use

4.4

4.4

  Durable Consumer Goods

-0.6

-0.6

 

 

 

 

 

9. Purchasing Price for Raw Materials, Fuels and Power Products

10.0

10.4

  Nonferrous Metal Materials and Wires

14.7

15.1

  Fuel and Power

12.3

11.2

  Ferrous Metals Materials

8.8

11.3

  Chemical Raw Materials

12.7

12.3

 

 

 

 

 

10. Investment Price on Fixed Assets

7.3
(Third Quarter)

6.6

Construction and Installation

10.2
(Third Quarter)

9.3

  Material Expense

9.7
(Third Quarter)

9.2

  Labor Expense

14.8
(Third Quarter)

12.5

  Machine-used Expense

5.4
(Third Quarter)

4.7

  Equipment and Apparatus Purchasing Expense

1.2
(Third Quarter)

1.3

  Other Expenses

4.4
(Third Quarter)

3.8

 

 

 

 

 

11. Produce Price on Agricultural Products

7.3
(Third Quarter)

18.3

Farming Products

10.2
(Third Quarter)

10.6

  Grain

9.7
(Third Quarter)

9.9

    Cereal

14.8
(Third Quarter)

10.2

    Wheat

5.4
(Third Quarter)

5.2

    Rice

1.2
(Third Quarter)

15.9

    Corn

4.4
(Third Quarter)

10.6

Oil-bearing Crops

 

 

14.8

  Sugar Crops

7.3
(Third Quarter)

32.2

  Vegetables

10.2
(Third Quarter)

4.1

  Fruits

9.7
(Third Quarter)

7.8

  Tea

14.8
(Third Quarter)

14.0

  Tobacco

5.4
(Third Quarter)

10.6

Forestry Products

1.2
(Third Quarter)

15.6

  Timber

4.4
(Third Quarter)

8.7

Animal Husbandry Products

7.3
(Third Quarter)

27.7

  Hogs

10.2
(Third Quarter)

39.3

Cattle and Buffaloes

9.7
(Third Quarter)

7.1

  Sheep and Goats

14.8
(Third Quarter)

14.5

  Poultry

5.4
(Third Quarter)

13.2

  Poultry Eggs

1.2
(Third Quarter)

13.7

Fishery Products

4.4
(Third Quarter)

10.6

 

 

 

 

 

12. Income and Expenditure of Households ( yuan/ person)

 

 

 

 

Per Capita Cash Income of Rural Households

5875

13.6

  Income from Wages and Salaries

2161

21.9

  Income from Household Operations

3129

20.4

    Of which: Income from the First Industry

2313

18.6

  Income from the Second and Tertiary Industry

816

25.7

  Income from Properties

143

6.2

  Income from Transfers

442

22.0

Per Capita Consumption Living Expenditure of Rural Households

3337

15.8

Per Capita Disposable Income of Urban Households

16301

7.8

Per Capita Consumption Expenditure of Urban Households

11195

6.7

 

 

 

 

 

Notes:

1. GDP, Value-added of Industry Above Designated Size and its growth rate were calculated at constant price. The growth rate of Per capita Cash Income of Rural Households, Per Capita Disposable Income of Urban Households, Per Capita Consumption Expenditure of Urban Households were real growth rate, other indicators of growth rate were calculated at current price.

2. Construction Enterprises refers to the general construction contractors and professional contractors (not including construction enterprises of worker subcontractors).

3.The Produce Price on Agricultural Products refers to price as agricultural producers directly sell their products.