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Beijing Review Exclusive
Special> Coping With the Global Financial Crisis> Beijing Review Exclusive
UPDATED: April 28, 2009 NO. 17 APR. 30, 2009
First Quarter Economic Performance
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Agriculture:

The sowing area of grain was 108.14 million hectares, up 1.35 million hectares, increasing for the sixth consecutive year.

The output of pork, beef and mutton was 16.15 million tons, up 6 percent year on year.

Industry:

Added value completed by enterprises with annual sales revenue of more than 5 million yuan ($732,064) was up 5.1 percent year on year, which was 11.3 percent percentage points lower than the rate in the same period last year.

Of this, the added value increased 3.8 percent in the January-February period and was up 8.3 percent in March.

By sector, the added value of heavy industry grew 4.5 percent and that of light industry grew 6.8 percent.

By region, the added value was up 3.7 percent in the east, up 5.2 percent in the central region and up 11.8 percent in the west.

Fixed-asset investment:

Fixed-asset investment totaled 2.81 trillion yuan ($411.42 billion), increasing 28.8 percent over a year ago, which was 4.2 percentage points higher than the rate in the same period last year.

Of this, fixed-asset investment in urban areas was 2.36 trillion yuan ($346 billion), growing 28.6 percent year on year and 2.7 percentage points higher than the rate in the same period last year. In March, the investment increased 30.3 percent.

Fixed-asset investment in rural areas was 456.7 billion yuan ($66.9 billion), growing 29.4 percent year on year and 11.1 percentage points higher than the same period last year.

Retail sales of consumer goods:

Retail sales of consumer goods amounted to 2.94 trillion yuan ($430.5 billion), increasing 15 percent over a year ago, which was 3.6 percentage points higher than the same period last year.

Of this, retail sales in urban areas were 1.98 trillion yuan ($289.9 billion), up 14.1 percent, while those in rural areas grew 17 percent to 956.4 billion yuan ($140.02 billion).

CPI:

The consumer price index (CPI) dropped 0.6 percent year on year.

By category, prices of food rose 0.5 percent, tobacco and wine rose 2 percent, home appliances and maintenance services rose 2.1 percent, health care and personal goods rose 1.3 percent, clothing dropped 2.4 percent, transport and telecommunications dropped 2.7 percent, entertainment, education and cultural goods dropped 0.5 percent, and housing dropped 2.9 percent.

PPI:

The producer price index (PPI) dropped 4.6 percent year on year.

Purchasing prices of raw materials, fuels and power decreased 7.1 percent compared with the same period last year.

The month-on-month decrease of the PPI slowed down. The PPI decreased 1.4 percent in January over a month ago, down 0.7 percent in February and 0.3 percent in March.

Foreign trade:

The foreign trade volume totaled $428.7 billion, a decline of 24.9 percent year on year.

Among the total, exports were valued at $245.5 billion, down 19.7 percent, while imports were valued at $183.2 billion, down 30.9 percent.

The trade surplus stood at $62.3 billion, a year-on-year increase of $20.9 billion.

FDI:

The paid-in foreign direct investment (FDI) was $21.8 billion, a decline of $5.6 billion than the same period last year.

Employment:

From January to February, the number of newly employed was 1.62 million, a decline of 210,000, with 18 percent of the whole year's target being completed.

Resident income:

The per-capita disposable income of urban residents was 4,834 yuan ($707.8), up 10.2 percent year on year. The per-capita cash income of rural residents was 1,622 yuan ($237.5), up 8.6 percent over a year ago.

Credit:

The outstanding loans among all financial institutions totaled 34.96 trillion yuan ($5.12 trillion), an increase of 4.58 trillion yuan ($670.57 billion) than the beginning of 2009, which was 3.25 trillion yuan ($475.84 billion) higher than the increase in the same period last year.

The outstanding deposits among all financial institutions totaled 52.26 trillion yuan ($7.65 trillion), an increase of 5.62 trillion yuan ($822.84 billion) than the beginning of the year, which was 2.98 trillion yuan ($436.31 billion) higher than the increase in the same period last year.

Foreign exchange reserve:

At the end of March, the foreign exchange reserve reached $1.9537 trillion, an increase of $7.7 billion than the end of last year.



 
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