7. New job opportunities fell down in urban areas and the urban and rural residents’ income continued to grow. In the first two months, the total newly increased employment in urban areas was 1.62 million people, a drop of 210 thousand people than that of the same period last year, fulfilling 18.0 percent of the annual target; the re-employment of the laid offs were 710 thousand people, fulfilling 14.2 percent of the annual target; and another 190 thousand people who had difficulties in finding jobs were employed, fulfilling 19.0 percent of the annual target. In the first quarter of this year, the per capita disposable income of urban population was 4,834 yuan, a year-on-year growth of 10.2 percent, or a real growth of 11.2 after deducting price factors. The per capita cash income of rural population was 1,622 yuan, up by 8.6 percent year-on-year, or 8.6 percent growth in real term.

8. The money supply and credit grew rapidly while the foreign exchange reserves increased to some extent. By the end of March, the broad money (M2) was 53.1 trillion yuan, a year-on-year growth of 25.5 percent, which was 7.7 percentage points higher than that at the end of last year; the narrow money (M1) was 17.7 trillion yuan, a rise of 17.0 percent, or 8.0 percentage points higher; the cash in circulation (M0) was 3,374.6 billion yuan, up by 10.9 percent or 1.8 percentage points lower. The amount of outstanding loans of all financial institutions was 34,955.5 billion yuan, increased by 4,581.2 billion yuan over that at the beginning of this year, or a rise of 3,248.5 billion yuan as compared with the same period last year. The amount of outstanding deposits of all financial institutions was 52,261.9 billion yuan, an increase of 5,616.3 billion yuan over the beginning of the year, or 2,978.7 billion yuan more than the same period last year. At the end of March, the national foreign exchange reserves reached US$ 1,953.7 billion, an increase of US$ 7.7 billion over that at the end of the previous year.

The notable problems existing in current national economic performance include: influenced by international financial crisis, the demand on export dropped sharply, which caused decline of profits made by enterprises, reduced government revenue and increased difficulties on employment, and the national economy is confronted with the pressure of slowdown. In the coming period, we should thoroughly apply the scientific approach to development, adhere to the decisions made by the central government on economic work, effectively implement the policies and measures issued, continuously improve the macro-control policies and make our efforts to realize a sound and fast growth of the national economy.

(National Bureau of Statistics April 16, 2009)