National Economy Showed Good Momentum of Development in 2010

Ma Jiantang

Commissioner, National Bureau of Statistics of China

January 20, 2011

In 2010, faced with the complicated and volatile domestic and international economic environment, serious natural disasters and various grand challenges, the Central Party Committee and the State Council, uniting and leading the Chinese people of all ethnic groups, sized up the situation and made scientific decisions. They implemented earnestly the scientific outlook on development, sped up the transformation of economic development mode, strengthened and improved macro economic control and encouraged the performance of market mechanism. As a result, the achievements of countering the impact of global financial crisis were consolidated and expanded, and the national economy showed good momentum of development.

According to preliminary estimation, the gross domestic product (GDP) for the year 2010 was 39,798.3 billion yuan, up by 10.3 percent at comparable prices, or 1.1 percentage points higher than that in the previous year. In terms of growth by quarters, it was up 11.9 percent for the first quarter, 10.3 percent growth for the second quarter, 9.6 percent for the third quarter and 9.8 percent for the last quarter. In terms of growth by sectors, the value added was 4,049.7 billion yuan for the primary industry, up by 4.3 percent; 18,648.1 billion yuan for the secondary industry, up by 12.2 percent; and 17,100.5 billion yuan for the tertiary industry, up by 9.5 percent.

I. Agricultural Production Grew Steadily with Increase in Grain Output for Consecutive Seven Years. In 2010, the total output of grain reached 546.41 million tons, an increase of 2.9 percent over that in the previous year with an output increase for the seventh year. Of this total, the output of summer grain was 123.10 million tons, a year-on-year decline of 0.3 percent; the output of early rice was 31.32 million tons, a drop of 6.1 percent over that in the previous year; the output of autumn grain was 391.99 million tons, a year-on-year increase of 4.8 percent. The output of oil-bearing seeds grew by 2.7 percent and that of sugar dropped by 1.9 percent. The output of meat maintained steady growth as the output of pork, beef, mutton and poultry reached 77.80 million tons in 2010, up by 3.6 percent. Of this total, the output of pork was 50.70 million tons, up by 3.7 percent.

II. Industrial Production Went up Steadily with a Substantial Increase in Economic Efficiency of Enterprises.

In 2010, the value added of the industrial enterprises above designated size was up by 15.7 percent, or 4.7 percentage points higher than that in 2009. Of which, the growth in the first quarter was 19.6 percent, that in the second quarter was 15.9 percent, 13.5 percent growth in the third quarter and 13.3 percent growth in the last quarter. Analysis on different types of enterprises showed that the value added of the state-owned and state holding enterprises went up by 13.7 percent; collective enterprises, up by 9.4 percent; share-holding enterprises, up by 16.8 percent; and 14.5 percent growth for the enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan. The growth of the heavy industry was 16.5 percent and that of the light industry was 13.6 percent. Among the 39 industrial divisions, 38 of them witnessed year-on-year growth. In terms of different areas, the growth in eastern, central and western regions went up by 14.9 percent, 18.4 percent and 15.5 percent respectively. The production and sales of industrial products went on well. In 2010, the sales ratio was 97.9 percent for the industrial enterprises above designated size, or 0.2 percentage point higher than that in the previous year.

In the first eleven months of 2010, the profits made by industrial enterprises above designated size reached 3,882.8 billion yuan, up by 49.4 percent year-on-year, or 41.6 percentage points higher than that in the same period of last year. Among the 39 industrial divisions, 38 divisions registered year-on-year growth with profits.

III. Investment Kept Fast Growth with Further Improved Investment Structure.

In 2010, the total investment in fixed assets of the country reached 27,814.0 billion yuan, a year-on-year growth of 23.8 percent, or a drop of 6.2 percentage points as compared with the growth in the previous year. The real growth was 19.5 percent after deducting price factors. Of this total, the fixed assets investment in urban areas was 24,141.5 billion yuan, up by 24.5 percent, or 5.9 percentage points lower that that in the previous year, and that in rural areas was 3,672.5 billion yuan, up by 19.7 percent, or 7.6 percentage points lower. Of the fixed assets investment in urban areas, the growth of investment in the primary industry was 18.2 percent; that in the secondary industry was 23.2 percent and 25.6 percent for the tertiary industry. In terms of different areas, the investment in eastern, central and western regions grew by 22.8 percent, 26.9 percent and 26.2 percent respectively. The total investment in real estate development for the year was 4,826.7 billion yuan, a growth of 33.2 percent.