Speaker:
Fu Linghui, spokesperson of the National Bureau of Statistics and director general of the Department of Comprehensive Statistics of the National Bureau of Statistics
Chairperson:
Shou Xiaoli, deputy director general of the Press Bureau of the State Council Information Office (SCIO) and SCIO spokesperson
Date:
Oct. 18, 2021
Shou Xiaoli:
Ladies and gentlemen, good morning. Welcome to this press conference held by the State Council Information Office (SCIO). This is a regular briefing on China's economic data. Today, we are joined by Mr. Fu Linghui, spokesperson of the National Bureau of Statistics and director general of the Department of Comprehensive Statistics of the National Bureau of Statistics. Mr. Fu will brief you on China's economic performance in the first three quarters of 2021 and then take your questions.
Now, I'll give the floor to Mr. Fu.
Fu Linghui:
Friends from the media, good morning. As usual, I will start by briefing you on economic performance in the first three quarters of the year and then take your questions.
In short, China's economy continued its stable recovery in the first three quarters of the year.
In the first three quarters of the year, in face of the complex and challenging conditions both at home and abroad, all regions and departments have worked under the strong leadership of the Central Committee of the Communist Party of China (CPC) with Comrade Xi Jinping at its core and earnestly implemented the decisions and deployments made by the CPC Central Committee and the State Council. By coordinating epidemic control with economic and social development in a scientific manner, enhancing the cross-cyclical adjustment of macro policies, and effectively coping with the epidemic and floods, China's economy continued to recover. The main macro indicators stayed in an appropriate range. The employment situation was generally stable, and people's income continued to increase. China's international payments remain balanced, while its economic structure was optimized. The quality and efficiency of China's economic performance saw steady growth with the society remaining harmonious and stable.
According to preliminary estimates, the gross domestic product (GDP) in the first three quarters amounted to 82.31 trillion yuan, up 9.8% year on year at comparable prices, with an average two-year growth of 5.2%, a 0.1 percentage point lower than the average two-year growth of the first half of 2021. By quarter, the GDP for the first quarter increased by 18.3% year on year, with an average two-year growth of 5%; for the second quarter 7.9% year on year, with an average two-year growth of 5.5%; and for the third quarter 4.9% year on year, with an average two-year growth of 4.9%. By industry, for the first three quarters, the value added of the primary industry reached 5.14 trillion yuan, up 7.4% year on year, or an average two-year growth of 4.8%. That of the secondary industry was 32.09 trillion yuan, up 10.6% year on year, or an average two-year growth of 5.7%. And that of the tertiary industry amounted to 45.08 trillion yuan, up 9.5% year on year, or an average two-year growth of 4.9%. The GDP for the third quarter increased by 0.2% quarter on quarter.
