China Kept Steady and Fast Growth in the First Half of 2007


According to preliminary estimation, the gross domestic product (GDP) of China in the first half of this year was 10,676.8 billion yuan, a year-on-year increase of 11.5 percent, which was 0.5 percentage point higher.

The first quarter GDP growth was 11.1 percent, and that for the second quarter was 11.9 percent. Of this total, the value added of the primary industry was 947.0 billion yuan, up by 4.0 percent; the value added of the secondary industry was 5,545.4 billion yuan, up by 13.6 percent; and the value added of the tertiary industry was 4,184.4 billion yuan, up by 10.6 percent.

1. Agricultural production attained another bumper harvest with the unit output of summer grain recorded all round high. According to the preliminary estimation, the total output of summer grain reached 115.34 million tons, an increase of 1.46 million tons or an increase of 1.3 percent representing 4 straight years of good harvest. The unit production of summer grain grew by 1.1 percent. The output of early rice is expected to have another bumper harvest. The planting areas for cotton continued to increase, the ratio of high quality farm products further improved. In the first half of this year, the output of pork, beef, mutton and poultry was 36.52 million tons, a year-on-year growth of 1.3 percent.2. Industrial production accelerated its growth with a big margin of profits made by enterprises. In the first half of this year, the total value added of the industrial enterprises above designated size was up 18.5 percent year-on-year growth (19.4 percent in June), or 0.8 percentage point higher than that in the first half of 2006. Of this total, the growth in the first quarter was 18.3 percent, and it was 18.7 percent for the second quarter. In terms of different ownerships, the value added of state-owned and state-holding enterprises went up by 14.0 percent, a year-on-year growth of 2.2 percentage points. That of the share-holding enterprises grew by 20.0 percent, or 1.3 percentage points higher; that of the collective enterprises increased by 13 percent, a drop of 0.1 percentage point; that of the private enterprises grew by 26.6 percent, a decrease of 0.6 percentage point; and 17.9 percent growth for enterprises funded by investments from foreign businesses or from HK SAR, Macao SAR and Taiwan province, or a drop of 1.1 percentage points. Among the 39 industrial divisions, the growth of 24 divisions was faster than that in the first quarter, one division maintained the same growth and the other 14 divisions registered drop of growth rate. Mainly the machinery and light industry enjoyed rapid growth and the drop of the growth rates was mainly found with those high energy consumption industries. Rapid growth was scored in the delivery value of export products while the growth rate slowed down. In the first half of this year, the delivery value of export products made by industrial enterprises at and above designated size was 3,285.9 billion yuan, a year-on-year growth of 21.7 percent, with its growth rate declining by 3.2 percentage points over that in the same period of last year, or 2.0 percentage points lower than that in the first quarter of this year.

In the first five months of this year, the profits made by industrial enterprises above designated size stood at 902.6 billion yuan, a year-on-year increase of 42.1 percent, or 16.6 percentage points higher than that in the same period last year. Of this total, that of the state-owned and state-holding enterprises went up by 42.3 percent, that of the collective enterprises increased by 24 percent, that of the joint stock enterprises increased by 23 percent, that of the share-holding enterprises grew by 39.5 percent and 38.6 percent growth for enterprises funded by investments from foreign businesses or from HK SAR, Macao SAR and Taiwan province. The profits made by private enterprises went up by 48.6 percent.

 3. The investment growth is running at a high level and the investment in central and western areas maintained rapid growth. In the first half of this year, the investment in fixed assets of the country was 5,416.8 billion yuan, up by 25.9 percent, or a drop of 3.9 pe...


National Bureau of Statistics of China
7/19/2007 5:59:38 AM