Learn Chinese: Chinese language - NBS spokesman Zheng Jingping on economy

CHINA / Ministry Press Conference

NBS spokesman Zheng Jingping on economy
(china.org.cn)
Updated: 2006-07-19 14:29

At the press conference sponsored by the State Council Information Office
on July 18, 2006, Zheng Jingping, director-general of the Department of
Comprehensive Statistics and spokesman of the National Bureau of
Statistics, briefed the press on national economic performance in the
first half of this year. He also answered questions from the press.

In the first half of this year, following the requirement of building a
harmonious society and constructing an innovative-type country in the
light of scientific approach to development, regions and departments at
all levels actively carried out various policies and measures set by the
central government and push forward various work in a down-to-earth
manner which had lead to good national economic performance in the first
half of 2006.

1. National economy kept fast and stable growth. According to preliminary
estimation, the gross domestic product (GDP) of China in the first half
of this year was 9,144.3 billion yuan, a year-on-year increase of 10.9
percent, or 0.9 percentage points higher than that in the same period
last year. Of this total, the value-added of the primary industry was
828.8 billion yuan, up by 5.1 percent; the value-added of the secondary
industry was 4,680.0 billion yuan, up by 13.2 percent; and the
value-added of the tertiary industry was 3,635.5 billion yuan, up by 9.4
percent.

2. Agricultural production was good. Bumper harvest was seen in the
production of summer crops for consecutive 3 years with total output
reaching 113.8 billion kilograms, an increase of 7.4 billion kilograms,
up by 7.0 percent. The growing of early rice is encouraging. In the first
half of this year, the total output of pork, beef, mutton and poultry
were 36.05 million tons with year-on-year increase of 4.4 percent.

3. Rapid growth was registered in industrial production. In the first
half of this year, the profits made by industrial enterprises above
designated size was 3,968.0 billion yuan, a year-on-year growth of 17.7
percent, (growth in June was 19.5 percent with total value-added of 781.8
billion yuan). Of this total, profits made by state-owned and
state-holding enterprises went up by 11.8 percent; that of the
share-holding enterprises was 18.7 percent and that of enterprises funded
by investments from foreign business or from HK SAR, Macao SAR and Taiwan
province was up by 19.0 percent. In terms of different industries, the
growth of the heavy industry was 18.5 percent while that of the light
industry was 15.8 percent. Analyzed by products, power generation and the
production of coal were up by 12.0 percent and 12.8 percent respectively.
The production of pig iron, and rolled steel rose by 20.8 percent and
25.8 percent respectively. The production of microcomputers and
programmed switch-boards went up by 34.0 percent and 21.5 percent. The
production of motor vehicles grew by 27.8 percent, of which, the growth
of cars went up by 53.2 percent. In the first half of this year, the
production and sales were good with the sales ratio of industrial
enterprises above designated size standing at 97.4 percent. Profits made
by industrial enterprises increased rapidly. In the first five months of
this year, the profits made by industrial enterprises above designated
size stood at 629.4 billion yuan, a year-on-year increase of 25.5 percent
or 9.7 percentage points higher over the same period last year.

4. Investment in fixed assets speeded up. In the first half of this year,
the investment in fixed assets of the country was 4,237.1 billion yuan,
up by 29.8 percent, or 4.4 percentage points higher as compared with the
growth in the same period last year. Of this total, the investment in
urban areas reached 3,636.8 billion yuan, up by 31.3 percent or 4.2
percentage points higher. Of the investment in urban areas, that in real
estate development was up by 24.2 percent, or 0.7 percentage point higher
than that in the same period last year. In terms of different industries,
the investment in heavy industry was up by 32.6 percent over the same
period a year ago. Of this total, the year-on-year growth of investment
in coal mining and washing was 45.7 percent, that in the extraction of
petroleum and natural gas was 30.3 percent, and that in production and
supply of electricity, gas and water went up by 17.5 percent and 87.6
percent growth for railway transportation. The year-on-year growth of
investment in light industry was 41.2 percent. Of this total, the
investment in manufacturing of foods was up by 65.1 percent, and in
textile industry, 40.6 percent.

5. Sales on domestic markets were stable with the trend of picking up. In
the first half of this year, the total retail sales of consumer goods
reached 3,644.8 billion yuan, a year-on-year rise of 13.3 percent (it was
605.8 billion in June, up by 13.9 percent), or a real growth of 12.4
percent or 0.4 percentage point higher after deducting price factors. Of
this total, the retail sales in urban areas reached 2,461.7 billion yuan,
up by 14.0 percent, the retail sales at and below county level stood at
1,183.1 billion yuan, up by 12.0 percent. In terms of different sectors,
the sales by wholesale and retail business was 3,082.1 billion yuan, up
by 13.4 percent and that by lodging and catering industry was 492.9
billion yuan, up by 15.3 percent. Among the wholesale and retail business
above the designated size, the year-on-year growth of the retail sales of
telecommunication equipment was 25.5 percent, and that of petroleum and
petroleum products was 38.4 percent and a 27.7 percent growth was
registered for vehicles.

6. Market prices rose moderately. China registered a year-on-year rise of
1.3 percent in total consumer price level in the first half of this year
(it was 1.5 percent growth in June), or 1 percentage point lower compared
with the same period of last year. Prices rose by 1.3 percent in cities
and 1.2 percent in rural areas. In terms of commodity categories, prices
for food rose by 1.9 percent, that for housings up by 4.7 percent. Prices
for medical care and personal utilities went up by 0.9 percent, and that
of tobacco, liquor and related articles grew by 0.3 percent; that for
household facilities, articles and services were up by 0.8 percent.
Prices for recreation, education and culture articles and related
services maintained unchanged. Prices for other categories of commodities
had slight decline. In the first half of this year, the retail prices of
commodities rose by 0.8 percent year-on-year. The producer��s price for
manufactured goods rose by 2.7 percent (3.5 percent growth June). The
purchaser��s price for raw materials, fuels and power rose by 6.1 percent
(6.6 percent in June). The selling prices of housings in 70 large and
medium-sized cities went up by 5.6 percent (5.8 percent growth in June),
it was 3.3 percentage points lower than the growth in the same period
last year.

7. High growth rate of exports dropped with imports speeding up. The
total value of import and export for the first 6 months was US$ 795.7
billion, up 23.4 percent year-on-year, or 0.2 percentage points higher
over the same period last year. Of the total, the value of export was US$
428.6 billion, up by 25.2 percent or 7.5 percentage points lower than the
same period of 2005, and the value of import was US$ 367.1 billion, up
21.3 percent or 7.3 percentage points higher. The trade surplus was US$
61.4 billion. The total value of contracted foreign capital was US$ 88.5
billion, up by 2.7 percent; the actually utilized capitals were US$28.4
billion, down by 0.5 percent. By the end of June, China registered a
total of US$ 941.1 billion in foreign exchange reserves, an increase of
US$ 122.2 billion as compared with that at the beginning of this year.

8. Urban and rural residents�� income kept fast growth. In the first half
of this year, the per capita disposable income of urban residents was
5,997 yuan, a year-on-year growth of 10.2 percent in real terms after
deducting price factors, or 0.7 percentage points higher than that in the
same period last year. The per capita cash income of rural residents was
1,797 yuan, up by 11.9 percent year-on-year in real terms, or down by 0.6
percentage points.

Prominent problems existing in economic life are: it is even harder to
increase the income of farmers; the investment in fixed assets is
excessive; the supply of credit is over-scaled; influenced by prices hike
of raw materials, fuels and power, the margin for profits of selected
enterprises is restricted. Looking into the second half of this year, as
long as we continue to earnestly implement various policies set by the
central government, continue to strengthen and improve macro-regulatory
controls, adopt target-oriented measures to tackle the prominent
problems, such as the excessive investment in fixed assets, and actively
push forward reform of economic system, speed up economic restructuring
and change the pattern of economic growth, the national economic
development for the whole year will maintain fast.

Learn Chinese

Friday, January 4, 2008

Chinese language - NBS spokesman Zheng Jingping on economy

No comments:

Sponsor AD

Good Sites

Labels

Blog Archive