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China’s Major Economic Indicators in January and February 2011
added: 2011-03-14

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.

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.


Source: National Bureau of Statistics of China

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