|In the first half
of this year, China finished a gross domestic product (GDP) of 5.0053 trillion
yuan (US$605 billion), up 8.2 percent from the same period last year in
Spokesman for the National Bureau of Statistics Yao Jingyuan told a press
conference Thursday that although the growth was slower than that in the
first quarter, it was still 0.4 percentage points faster than the growth
in the same period last year and was one of the fastest growth periods
in recent years.
He attributed the growth to the recovery of industrial production, market
sales and other major economic indices in last June as well as the strong
growth of investment in fixed assets and foreign trade in the first six
Statistics show that the added value of the primary industry was 475.4
billion yuan, up 2.7 percent; that of the secondary industry was 2.88
trillion yuan, up 11.6 percent; and that of the tertiary industry was
1.6499 trillion yuan, up 4.2 percent.
More efforts to increase farmer's income
Yao pledged that China would take every measure to increase Chinese farmer's
He said that the severe acute respiratory syndrome (SARS) knocked down
about one percent of the growth rate of Chinese farmer's income in the
first half year.
China has set an objective to help increase farmer's income of four percent
in the beginning of the year.
It would be a tough job to fulfill that objective, said Yao.
He said by citing a survey conducted by the NBS saying recently that,
dated to June 15, only 23.3 percent of the rural labors who had returned
to their hometown during the SARS period went back to the cities.
The reluctance of the rural labors going back to their workplaces would
be a major hindrance to the overall increase of the farmer's increase,
Yao note that China would pay great attention to the phenomenon and accelerate
the rural tax reform process and strengthen the local infrastructure construction
to help the farmers increase their income.
Faster import growth poses no negative impact on GDP
Yao said that the faster growth of import indicated by figures for the
first half of this year is not expected to pose serious negative impact
on gross domestic product (GDP), but the trade surplus of this year would
not be as big as that of last year.
The epidemic of severe acute respiratory syndrome (SARS) did not affect
the export in the first half of this year because most of the export had
been ordered last year or even earlier, according to Yao.
In the coming few months the negative impact will show up, but will not
last long as the epidemic has been brought under control.
Statistics show that in the first half of this year China's export was
190.3 billion US dollars, up 34 percent from the same period last year;
while the import was 185.8 billion dollars, up 44.5 percent.
Industrial output maintain fast growth
Yao told the press conference that China's robust industrial output
growth still remain fast, dragging up 5.8 percent of the growth rate of
the country's Gross Domestic Product (GDP) in the first half year.
Yao said that the value added output from Chinese large industrial enterprises
in the first half year totaled 1836.3 billion yuan (about 229.5 billion
US dollars), 16.2 percent more than that of same time last year.
The growth rate of the value added output from Chinese large industrial
enterprises also recorded 4.5 percent increase, the fastest growth of
the same period since 1994, Yao added.
Major economic indices enjoy fast growth
Despite the negative impact of the severe acute respiratory syndrome,
China's major economic indices still enjoyed fast growth, according to
half-year NBS statistics.
The statistics show that in the first six months, the total fixed asset
investment was 1.9348 trillion yuan (US$234 billion), up 31.1 percent
from the same period last year, which was the fastest growth period since
The total foreign trade volume for the first half year was 376.1 billion
US dollars, up 39 percent from the same period last year,of which the
export volume was 190.3 billion dollars, up 34 percent; while the import
was 185.8 billion dollars, up 44.5 percent; the trade surplus was 4.5
billion dollars, which was 8.9 billion dollars less than the same period
The contracted volume of foreign direct investment (FDI) was 51billion
dollars, up 40.3 percent from the same period last year; while the actually
used FDI was 30.3 billion dollars, up 34.3 percent.
The consumer sales volume totaled 2.1556 trillion yuan, up 8 percent
from the same period last year.
SARS shows impact on economy in 2nd quarter
The negative impact on the country's national economy by the severe acute
respiratory syndrome (SARS) started to show symptoms in the second quarter
of this year, Yao said.
He noted that the growth rate of China's Gross Domestic Product (GDP)
dropped to 6.7 percent in the second quarter, 3.2 percentage points lower
than that in the first quarter.
The growth rate of the tertiary industry only climbed 0.8 percent, down
6.1 percent of that of same time last year, Yao added.
The NBS statistics showed that sectors of passenger transportation, catering,
social service and tourism are hardest-hit ones by the SARS epidemic.
Passenger transportation volumes dropped 23.9 percent during the time,
and the air passenger transportation volume shrank almost half, said the
The NBS also reported a sharp decrease of the growth rate of the domestic
sales, adding that the retail sales of consumption items only increased
6.7 percent, 2.5 percent lower than that of the first quarter.
Quality of China's economic operation further improved
Statistics show that in the first half of this year the quality of China's
economic operation was further improved and corporate profit remained
at a fairly high level.
According to the statistics, from January to May, industrial enterprises
realized an aggregate profit of 291.8 billion yuan (about 35.28 billion
US dollars), up 62.8 percent from the same period last year, or 60 percentage
points faster than the growth in the same period last year.
Of the 39 major industries, 36 maintain profit growth, of which crude
oil and gas mining, transport equipment manufacturing, blackmetal smelting
and rolling, chemical industry and electricity industry enjoyed a profit
growth of 72.18 billion yuan, accounting for 64.1 percent of the total
industrial profit growth.
The industrial output and sales rates remained at high level, in the
first six months the industrial sales rate reached 97.15 percent, or 0.08
percentage points higher than the same period last year.