Press briefing on H1 economic data

3. Investment in fixed assets slowed down at a high level.

In the first six months, investment in fixed assets (excluding rural households) was 21.28 trillion yuan, a growth of 17.3 percent (a real growth of 16.3 percent after deducting price factors), 0.3 percentage points slower than the first quarter. Specifically, investment in the state-owned and state holding enterprises reached 6.57 trillion yuan, a rise of 14.8 percent; private investment reached 13.86 trillion yuan, up by 20.1 percent, accounting for 65.1 percent of the total investment. In terms of different areas, the growth in eastern, central and western regions was 16.3 percent, 19.2 percent and 18.6 percent respectively. The investment in the primary industry was 482.0 billion yuan, up by 24.1 percent; the secondary industry 8,918.6 billion yuan, up by 14.3 percent; and the tertiary industry 11,876.4 billion yuan, an increase of 19.5 percent. The funds in place for investment in the first half year were 24.61 trillion yuan, up by 13.2 percent. Specifically, the state budget went up by 15.5 percent, domestic loans up by 12.9 percent, self-raised funds up by 16.7 percent, foreign investment down by 8.3 percent. The total investment in newly-started projects in the first six months of this year was 19.68 trillion yuan, an increase of 13.6 percent. In June, investment in fixed assets (excluding rural households) grew by 1.45 percent month-on-month.

The total investment in real estate development in the first six months was 4.2 trillion yuan, a nominal annual growth of 14.1 percent (a real growth of 13.1 percent after deducting price factors), 2.7 percentage points slower than the first quarter. In particular, the investment in residential buildings went up by 13.7 percent. The floor space started in the first six months was 801.26 million square meters, down by 16.4 percent. Specifically, the floor space of residential buildings went down by 19.8 percent. The floor space of commercial buildings sold was 483.65 million square meters, down by 6.0 percent. Specifically, the floor space of residential buildings sold was down by 7.8 percent. The total sales of commercial buildings were 3,113.3 billion yuan, down by 6.7 percent. Specifically, the sales of residential buildings were down by 9.2 percent. The land space purchased for real estate development was 148.07 million square meters, down by 5.8 percent. By the end of June, the floor space of commercial buildings for sale was 544.28 million square meters, up by 24.5 percent. The funds in place for real estate development enterprises in the first half of the year reached 5,891.3 billion yuan, up by 3.0 percent.

4. Sales in domestic markets experienced steady growth

In the first half of the year, the total retail sales of consumer goods reached 12.42 trillion yuan, a nominal annual rise of 12.1 percent (a real growth of 10.8 percent after deducting price factors), 0.1 percentage points faster than that in the first quarter. Specifically, the retail sales of the enterprises (units) above designated size stood at 6.21 trillion yuan, up by 9.8 percent. Analyzed by different areas, the retail sales in urban areas reached 10.73 trillion yuan, up by 12.0 percent, and the retail sales in rural areas stood at 1,694.6 billion yuan, up by 13.2 percent. Grouped by consumption patterns, the income of catering industry was 1.3 trillion yuan, up by 10.1 percent; and the retail sales of goods were 11.12 trillion yuan, up by 12.4 percent. In particular, the retail sales of the enterprises (units) above designated size reached 5.83 trillion yuan, an annual growth of 10.2 percent. In June, the total retail sales of consumer goods rose by 12.4 percent year-on-year (a real growth of 10.7 percent after deducting price factors), or 0.96 percent growth month-on-month.

In the first half of the year, online retail sales reached 1,137.5 billion yuan, a year-on-year growth of 48.3 percent and the online retail sales of the enterprises (units) above designated size stood at 181.9 billion yuan, up by 56.3 percent.

5. Imports and exports reversed to positive growth.

The total value of imports and exports in the first half of the year was 12.4 trillion yuan or 2.02 trillion US dollars, an increase of 1.2 percent (that in the first quarter was down by 1.0 percent year-on-year). The total value of exports was 6,511.3 billion yuan, or 1.06 trillion US dollars, up by 0.9 percent; the total value of imports was 5.88 trillion yuan, or 959.0 billion US dollars, an increase of 1.5 percent. The trade balance was 630.6 billion yuan or 102.9 billion US dollars. In June, the total value of imports and exports was 2.1 trillion yuan or 342.0 billion US dollars, up by 6.4 percent. The total value of exports was 1.15 trillion yuan or 186.8 billion US dollars, up by 7.2 percent; and that of imports was 957.3 billion yuan or 155.2 billion US dollars, up by 5.5 percent.