Dragon TV:
Mr. Ning, I know you also serve as the NDRC vice minister. As we can see, there is a report about economic operation every year, offering national average figures of a number of indicators. However, such national averages tend to cover up many micro-economic problems. How do you view these figures in your dual capacity as the head of NBS and the vice minister of the NDRC, the decision-maker for economic issues? How do you and your colleagues make use of these figures in decision-making so they can reflect both macro- and micro-economic issues?
Ning Jizhe:
In fact, the macro data comes from the micro data, according to our statistical methodology. For example, the macro data about the industrial enterprises above the designated size (with annual sales revenue of 20 million or more) is calculated by adding up figures submitted directly online to the NBS by individual enterprises. Since no intermediate links are involved, the macro data can reflect the actual situation of individual enterprises. However, we are not allowed to publicize data of individual enterprises without their express consent, according to the Statistics Law. Public companies are obliged to make their data freely available, but others don't have to do this. Some enterprises are reluctant to publicize such data as the amount of their assets and profits and the Statistics Law protects their right to do so. The NBS has access to information of individual micro economic entities for purposes other than profit-making and abnormal uses. In addition, the NBS also collects, through sample surveys, real information about the industrial enterprises below the designated size.
TV Tokyo:What do you think will be the impact of Donald Trump's inauguration on the Chinese economy? I want to know your thoughts of how it will affect the GDP of China this year?
Ning Jizhe:
I congratulate Mr. Trump for becoming the next President of the United State. The United States is the largest economy in the world with a GDP of US$18 trillion. China is the world's second largest economy with a GDP of US$11 trillion. Meanwhile, the United States is the largest developed country with its per capita GDP reaching US$50,000, and China is the largest developing country with its per capita GDP reaching US$8,000. The average per capita GDP is US$11,000 worldwide. Both leaders from the two countries have leading roles in economy. According to our statistics, the amount of bilateral trade was over US$500 billion in 2016. The total amount of bilateral investment is over US$100 billion. This is the largest investment worldwide. People from both countries benefit a lot from the trade and investment, therefore, it is a mutually beneficial and win-win situation. Personally, I believe and hope that Mr. Trump will consider the bilateral ties from the perspective of mutual benefit, and develop the cooperation after he takes office. As for the influence to China's GDP, I think GDP of both countries will continue to grow as Mr. Trump also proposes to increase the U.S. GDP, and Chinese economy will maintain medium-high rate of growth.
The Beijing News:
The property market was hot last year. What is the contribution rate for the real estate industry to the economic growth? Will the contribution rate keep the same level in 2017?
Ning Jizhe:
With many contributing factors, the property investment, the floor space of houses started construction, the floor space of buildings sold out, the total sales volume of 2016 have all increased compared to the previous year. From January to September, in first-tier cities and some second-tier cities, especially the 15 key cities, the property market grew faster and experienced a price hike.
In the past 3 months, the price hike has been controlled in these cities. In third-tier cities and fourth-tier cities, and in some counties, there is still excess supply in the real estate markets. The total housing inventory is reducing, with more decrease in some cities and less in other cities. The data is relatively stable compared with those in previous years. I think the real estate market will maintain a healthy development in 2017 and we are very confident.