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China's economy starts well in Q1 2016
18
Apr '16
China's gross domestic product (GDP) in the first quarter of 2016 was 15,852.6 billion yuan, a year-on-year increase of 6.7 per cent, the National Bureau of Statistics has said.

The value added of the primary industry was 880.3 billion yuan, up by 2.9 per cent year-on-year; that of the secondary industry was 5,951.0 billion yuan, up by 5.8 per cent; and that of the tertiary industry was 9,021.4 billion yuan, up by 7.6 per cent. Calculated at 2015 prices, the GDP in the first quarter increased by 985.1 billion yuan year-on-year, 22.2 billion yuan more than that in the same period of last year.

“The overall performance of national economy continued to be stable and move in a positive direction, with structural adjustment deepened, new impetus accumulated and positive changes showed on major indicators. The national economy enjoyed a good start,” the NBS said.

According to the planting intention survey conducted among more than 110 thousand rural households, the planting area for rice would go up by 0.3 per cent; wheat grow by 0.4 per cent; corn drop by 0.9 per cent and cotton down by 18.8 per cent.

The total value added of the industrial enterprises above designated size in the first quarter was up by 5.8 per cent at comparable prices, 0.3 percentage point lower than that in the previous year, or 0.4 percentage point higher than that in the first two months of this year.

The export delivery value of the industrial enterprises above designated size reached 2,543.9 billion yuan, down by 3 per cent. In March, the total value added of the industrial enterprises above designated size was up by 6.8 per cent year-on-year, or 0.64 per cent month-on-month.

In the first two months of this year, the profits made by industrial enterprises above designated size stood at 780.7 billion yuan, up by 4.8 per cent year-on-year. The costs for per-hundred-yuan turnover of primary activities of the industrial enterprises above designated size reached 85.26 yuan, and the profit rate from primary activities was 5.12 per cent.

The total value of imports and exports in the first quarter of 2016 was 5,214.4 billion yuan, a year-on-year decrease of 5.9 per cent. The total value of exports was 3,012.3 billion yuan, dropped by 4.2 per cent; and that of imports was 2,202.1 billion yuan, down by 8.2 per cent. The trade surplus was 810.2 billion yuan. In March, the total value of imports and exports was 1,905.6 billion yuan, up by 8.6 per cent year-on-year. The total value of exports was 1,050.1 billion yuan, up by 18.7 per cent; and that of imports was 855.5 billion yuan, down by 1.7 per cent.

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