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China’s Major Economic Indicators in Jan. and Feb.

Source:   Time:

Sheng Laiyun

Spokesman

National Bureau of Statistics of China

11 March 2011

 

1. The industrial production realized steady and fast growth.

In the first two months of 2011, the total value added of the industrial enterprises above designated size was up 14.1 percent year-on-year, or 0.6 percentage point higher than that in December 2010.

Analysis on different types of enterprises showed that in the first two months of 2011, the year-on-year growth of the state-owned and state holding enterprises went up by 10.6 percent; collective enterprises, 10.5 percent; share-holding enterprises, 15.6 percent; and 12.2 percent growth for enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan province. The year-on-year growth of heavy industry in the first two months was 14.4 percent, and 13.3 percent for the light industry.

Grouped by different sectors, in the first two months all the 39 industrial divisions kept year-on-year growth. Of this total, the growth of textile industry was 7.7 percent; the manufacture of raw chemical materials and chemical products, up by 15.3 percent; the manufacture of non-metallic mineral products, up by 17.8 percent; the manufacture of general machinery, 22.4 percent; the manufacture of transport equipment, 14.4 percent; the manufacture of electric machinery and equipment, 17.7 percent; the manufacture of communication equipment, computers and other electronic equipment, 14.3 percent; the production and supply of electricity, gas and water, up 9.7 percent; and the ferrous metal smelting and pressing, up by 8.6 percent.

In terms of different products, of the total 468 products, the output of 397 products in the first two months showed a year-on-year growth. Of this total, the output of crude oil was 33.72 million tons, up by 5.5 percent; that of electricity was 677.3 billion kilowatt-hours, up by 11.7 percent; that of pig iron was 114.18 million tons, up by 12.6 percent; that of cement was 204.29 million tons, up by 9.1 percent; that of motor vehicles was 3.13 million, up by 10.3 percent, of which, the output of cars was 1.67 million, up by 10.8 percent.

The sales ratio of industrial products in the first two months was 97.7 percent, or 0.4 percentage point higher than that in the same period of last year. The total export delivery value of industrial enterprises was 1,322.9 billion yuan, up by 20.2 percent year-on-year.

2. Investment in fixed assets kept fast growth.

In the first two months of this year, the investment in fixed assets (excluding rural households) reached 1,744.4 billion yuan, up by 24.9 percent year-on-year. Of this total, that in the state-owned and state holding enterprises reached 643.5 billion yuan, a rise of 15.6 percent.

Grouped by jurisdiction of project management, in the first two months of this year, the central investment reached 138.5 billion yuan, the year-on-year growth was 6.3 percent while the local investment was 1,606.0 billion yuan, up by 26.9 percent. Grouped by status of registration, in the first two months of this year, the investment by domestic enterprises was 1,587.2 billion yuan, up by 26.6 percent; investment by funds from Hong Kong, Macao and Taiwan was 75.4 billion yuan, up by 25.5 percent; and the investment by foreign funds was 76.6 billion yuan, up by 10.1 percent.

In the first two months of this year, the investment in primary industry, secondary industry and the tertiary industry went up by 6.9 percent, 24.7 percent and 25.6 percent respectively. Grouped by different sectors, in the first two months of this year, the investment in production and supply of electric power and heat power was 67.4 billion yuan, up by 1.3 percent; that in extraction of petroleum and natural gas 10.8 billion yuan, up 7.8 percent; and that in railway transport 58.6 billion yuan, up 45.3 percent.

Analysis on projects under construction or started this year showed that in the first two months of this year, the total planned investment in projects under construction reached 26,003.1 billion yuan, up by 21.4 percent year-on-year; the total planned investment in newly started projects was 926.4 billion yuan, down by 23.6 percent over the same period of last year.

In terms of funds in place for investment, in the first two months of this year, 3,325.4 billion yuan had been invested, a year-on-year growth of 22.5 percent. Of this total, the growth of government budgetary funds went up by 4.6 percent; investment from domestic loans went up by 14.5 percent; that from self-raising funds went up by 28.5 percent and that from foreign investment rose by 21.1 percent.

3. Investment in real estate development increased rapidly.

In the first two months of 2011, the investment in real estate development was 425.0 billion yuan, a year-on-year growth of 35.2 percent. Of this total, the investment in residential buildings reached 301.4 billion yuan, up by 34.9 percent.

In the first two months, floor space of houses under construction reached 2,914.73 million square meters, up by 39.0 percent year-on-year; floor space of houses newly started was 190.83 million square meters, up by 27.9 percent; floor space of houses completed was 69.52 million square meters, up by 13.9 percent, of which, that of residential buildings reached 53.66 million square meters, up by 12.1 percent.

The sales of floor space of commercial buildings in the first two months of 2011 reached 81.43 million square meters, a year-on-year growth of 13.8 percent. Of this total, the growth of residential buildings went up by 13.2 percent; office buildings, up by 26.4 percent; buildings for commercial business, rose by 8.7 percent. In the first two months, the sales of commercial buildings stood at 524.2 billion yuan, up by 27.4 percent year-on-year. Of this total, the sales of residential buildings went up by 26.2 percent; that of office buildings grew by 46.3 percent and that of buildings for commercial business rose by 22.1 percent.

In the first two months of the year, the sources of funds for real estate development enterprises from current year reached 1,217.3 billion yuan, up by 16.3 percent year-on-year. Of this total, capital from domestic loans was 267.9 billion yuan, up by 7.7 percent; that from foreign investment stood at 8.6 billion, up by 61.5 percent; that from self-raising funds was 418.4 billion yuan, up by 21.4 percent and that from other sources was 522.3 billion yuan, up by 16.6 percent. In other sources of funds, down payment and prepayment reached 315.4 billion yuan, up by 28.9 percent and individual mortgage was 128.0 billion yuan, down by 11.3 percent.

In February, the national real estate development industry boom index was 102.9.

4. Total retail sales of consumer goods continued to grow.

In the first two months of 2011, the total retail sales of consumer goods reached 2,901.8 billion yuan, a year-on-year rise of 15.8 percent, or 3.3 percentage points lower than that in December 2010. Of this total, the retail sales of the enterprises (units) above designated size stood at 1,272.4 billion yuan, up by 20.7 percent.

Analyzed by different areas, the retail sales in urban areas reached 2,517.3 billion yuan in the first two months, up by 15.9 percent, and the retail sales in rural areas stood at 384.5 billion yuan, up by 15.4 percent.

Grouped by consumption patterns, the total income of catering services was 324.1 billion yuan in the first two months, up by 15.5 percent year-on-year, and that of retail goods was 2,577.7 billion yuan, up 15.9 percent. Of this total, the total retail sales of enterprises (units) above designated size stood at 1,174.1 billion yuan, up 20.9 percent.

5. The year-on-year growth of consumer prices maintained the same level.

In February, the consumer price index went up by 4.9 percent year-on-year, which maintained the same level of growth with that in January 2011. The price grew by 4.8 percent in cities and 5.5 percent in rural areas. The food price went up by 11.0 percent while the non-food price increased by 2.3 percent. The prices of consumer goods went up by 5.4 percent and the prices of services grew up by 3.8 percent. Grouped by commodity categories, in the first two months, prices for food went up by 11.0 percent; prices for tobacco, liquor and articles rose by 1.9 percent; price for clothing went up by 0.4 percent; prices for household facilities, articles and maintenance services went up by 1.4 percent; health care and personal articles grew by 3.0 percent; recreation, education, culture articles and services grew by 0.3 percent; housing went up by 6.1 percent; and transportation and communication dropped by 0.3 percent. In the first two months, the year-on-year change of consumer price was up by 4.9 percent.

In February this year, the month-on-month change of consumer price was up by 1.2 percent. Of which, price in cities went up by 1.2 percent and that in rural areas rose by 1.3 percent. The food price went up by 3.7 percent while the non-food price grew by 0.1 percent. The price of consumer goods rose by 1.5 percent, and the price of services went up by 0.6 percent. Grouped by commodity categories, in February, prices for food rose by 3.7 percent month-on-month, of which, that for fresh vegetables went up by 15.2 percent in particular; prices for tobacco, liquor and articles rose by 0.2 percent; prices for household facilities, articles and maintenance services went up by 0.2 percent; health care and personal articles grew by 0.2 percent; transportation and communication rose by 0.1 percent; recreation, education, culture articles and services went up by 0.3 percent; housing went up by 0.3 percent; and clothing went down by 0.8 percent.

6. Producer prices for industrial products kept growing.

In February, the producer prices for industrial products went up by 7.2 percent year-on-year, or 0.6 percentage point higher than that in the previous month of this year. Grouped by commodity categories, the producer prices for means of production went up by 8.2 percent year-on-year, of which that for mining and quarrying industry grew by 14.3 percent, raw materials industry went up by 10.6 percent and processing industry increased by 6.6 percent. The producer prices for means of livelihood increased by 4.1 percent, of which, the food prices grew by 7.3 percent, clothing went up by 3.9 percent, articles for daily use grew by 4.3 percent and durable consumer goods dropped by 0.8 percent. In February, the month-on-month change of the producer prices for industrial products went up by 0.8 percent. In the first two months of this year, the year-on-year change of the producer prices for industrial products was up by 6.9 percent.

In February, the purchasers’ prices for industrial products went up by 10.4 percent year-on-year, of which, the prices for nonferrous metals and wire went up by 14.8 percent, fuel and power rose by 8.9 percent, 11.9 percent growth for raw chemical materials and 15.8 percent increase for ferrous metals. In the first two months of 2011, the purchasers’ prices for industrial products grew up by 10.0 percent year-on-year.

 

Notes:

1. 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 principal business 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.   

2. 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.

3. From 2011, data on real estate development and sales will be released in the monthly or quarterly news conferences of the National Bureau of Statistics.

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

5. In accordance with the data of national survey of urban and rural household consumption expenditure in 2010 and data of other surveys conducted by relevant departments, the National Bureau of Statistics made a routine adjustment of the weights of CPI from January 2011. By using the new weights, the consumer price index in February went up by 4.944 percent year-on-year, or 1.235 percent month-on-month, while it was up 4.951 percent year-on-year, or 1.258 percent month-on-month if the former weights were used.

6. From January 2011, the National Bureau of Statistics began to implement the new survey system of producer prices for industrial products. Statistics of the producer prices for manufactured goods changed to statistics of producer prices for industrial products, and accordingly the indexes of producer prices for manufactured goods and the purchasing prices for raw materials, fuel and power changed to the producer price indexes for industrial products and the purchasers’ price indexes for industrial products.

 

Indicators

February

Jan-Feb

Absolute Magnitude

Increased YoY
(%)

Absolute Magnitude

Increased YoY
(%)

 

 

 

 

 

 1. Value-added of Industry Above Designated Size

14.9

14.1

Grouped by Light & Heavy Industry

 

 

 

 

  Light Industry

13.1

13.3

  Heavy Industry

15.6

14.4

Grouped by Ownership

 

 

 

 

  State Owned & State-holding Enterprises

10.5

10.6

  Collective-Owned Enterprises

11.7

10.5

  Joint-Stock Enterprises

16.5

15.6

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

12.2

12.2

The Value-Added of the Main Industrial Sectors

 

 

 

 

  Manufacture of Textile

8.5

7.7

  Manufacture of Chemical Raw Material and Chemical Products

16.4

15.3

  Manufacture of Nonmetal Mineral Products

18.9

17.8

  Manufacture of General Purpose Machinery

22.7

22.4

  Manufacture of Transport Equipment

12.8

14.4

  Manufacture of Electrical Machinery & Equipment

16.6

17.7

  Manufacture of Telecommunications Equipment, Computers and Other Electronic Equipment

14.5

14.3

  Production and Supply of Electric Power and Heat Power

13.0

9.7

  Smelting and Pressing of Ferrous Metals

11.5

8.6

Output of Major Products

 

 

 

 

  Crude Oil (10,000 tons)

1591

5.3

3372

5.5

  Generating Capacity (100 million kWh)

3101

15.4

6773

11.7

  Pig Iron (10,000 tons)

5051

10.0

10268

8.9

  Crude Steel (10,000 tons)

5431

9.7

11418

12.6

  Steel (10,000 tons)

6354

17.4

13087

14.5

  Cement (100 million tons)

8814

12.4

20429

9.1

  Automobile (10,000 sets)

129

6.2

313

10.3

    Of which: Autocars (10,000 sets)

66.6

5.9

167

10.8

Sales Ratio (%)

97.9

1.0(Percentage Point)

97.7

0.4(Percentage Point)

Export Delivery Value (100 million yuan)

6243

21.0

13229

20.2

 

 

 

 

 

 2. Investment in Fixed Assets in the Whole CountryExclude Rural Households (100 million yuan)

17444

24.9

    Of which: State-owned and State Holding

6435

15.6

Grouped by Jurisdiction of Project Management

 

 

 

 

  Central Investment

1385

6.3

  Local Investment

16060

26.9

Grouped by Types of Industry

 

 

 

 

  Primary Industry

211

6.9

  Secondary Industry

7155

24.7

  Tertiary Industry

10078

25.6

Grouped by Industrial Sectors

 

 

 

 

  Production and Supply of Electric Power and Heat Power

674

1.3

  Extraction of Petroleum and Natural Gas

108

7.8

  Railway Transportation

586

45.3

  Ore Mining, Processing of Non-Metallic Minerals and its Products

546

17.6

  Ore Mining, Smelting and Pressing of Ferrous Metals

284

13.3

  Ore Mining, Smelting and Pressing of Non-Ferrous Metal

218

10.0

Grouped by Registration Type

 

 

 

 

  Domestic Funded

15872

26.6

  Funds from Hong Kong, Macao and Taiwan

754

25.5

  Foreign Investment

766

10.1

Grouped by Construction and New Projects

 

 

 

 

  Total Investment in Construction Project

260031

21.4

  Total Planned Investment in New Projects

9264

-23.6

Funds in Place for Investment (Exclude Rural Households)

33254

22.5

  Government Budgetary Funds

1010

4.6

  Domestic Loans

6635

14.5

  Foreign Investment

612

21.1

  Self-Raising Funds

18656

28.5

 

 

 

 

 

3. Investment in Real Estate Development

 

 

 

 

Investment in Real Estate (100 million yuan)

4250

35.2

  Of which: Residential Buildings

3014

34.9

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

291473

39.0

Of which: Residential Buildings

224049

38.9

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

19083

27.9

Of which: Residential Buildings

14838

25.4

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

6952

13.9

Of which: Residential Buildings

5366

12.1

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

8143

13.8

Of which: Residential Buildings

7282

13.2

         Office Buildings

192

26.4

         Buildings for Commercial Business

478

8.7

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

5242

27.4

Of which: Residential Buildings

4471

26.2

         Office Buildings

244

46.3

         Buildings for Commercial Business

435

22.1

Sources of Funds for Real Estate Development Enterprises

 (100 milliaon yuan)

12173

16.3

  Of which: Domestic Loans

2679

7.7

         Foreign Investment

86

61.5

         Self-raising Funds

4184

21.4

         Other Sources

5223

16.6

 

 

 

 

 

4. Total Retail Sales of Consumer Goods (100 million yuan)

13769

11.6

29018

15.8

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

5781

13.0

12724

20.7

Grouped by Different Areas

 

 

 

 

  Cities

11917

11.7

25173

15.9

  At and Below County Level

1852

11.2

3845

15.4

Grouped by Consumption Patterns

 

 

 

 

  Catering Services

1554

12.6

3241

15.5

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

474

12.7

983

18.5

  Retail Goods

12215

11.5

25777

15.9

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

5307

13.0

11741

20.9

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

881

6.2

1834

22.9

             Garments, Footwear, Hats, Knitwear

634

5.4

1468

22.2

             Cosmetics

84

8.2

179

16.1

             Gold and Silver Jewelry

176

43.8

351

51.4

             Commodities

208

12.7

439

24.1

             Sports and Recreation Articles

28

7.5

60

21.6

             Household Appliances and AV Equipment

338

6.3

827

17.9

             Traditional Chinese and Western Medicines

244

14.5

547

21.2

             Cultural and Office Appliances

     91

16.3

204

20.7

             Furniture

     67

22.3

145

20.4

             Communication Appliances

     80

17.1

166

23.2

             Petroleum and Related Products

940

37.7

1954

33.7

             Automobile

1203

4.2

2873

10.9

Building and Decoration Materials

68

23.5

146

20.8

 

 

 

 

 

5. CPI (Same Period of Previous Year = 100)

4.9

4.9

  Of which: Urban

4.8

4.7

         Rural

5.5

5.3

Of which: foodstuff

11.0

10.6

         Non-foodstuff

2.3

2.4

  Of which: Consumer Goods

5.4

5.2

         Services

3.8

4.2

Grouped by Commodity Categories

 

 

 

 

  Foodstuff

11.0

10.6

  Tobacco, Liquor and its Articles

1.9

1.9

  Clothing

0.4

0.0

  Household Facilities, Articles and Maintenance Services

1.4

1.4

  Health Care and Personal Articles

3.0

3.0

  Transportation and Communication

-0.3

-0.2

  Recreational, Educational, Cultural Articles and Services

0.3

0.7

  Housing

6.1

6.4

 

 

 

 

 

6. Producer Prices for Industrial Products (Same Period of Previous Year = 100)

7.2

6.9

Means of Production

8.2

7.9

Mining and Quarrying

14.3

14.0

Raw Materials

10.6

10.3

Processing

6.6

6.2

Means of Livelihood

4.1

3.9

    Foodstuff

7.3

7.0

    Clothing

3.9

3.8

    Articles for Daily Use

4.3

4.3

    Durable Consumer Goods

-0.8

-0.8

 

 

 

 

 

7. Purchasers’ Prices for Industrial Products (Same Period of Previous Year = 100)

10.4

10.0

  Nonferrous Metal Materials

14.8

13.6

  Fuel and Power

8.9

8.8

  Ferrous Metals Materials

15.8

15.1

  Chemical Raw Materials

11.9

11.8

 

 

 

 

 

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