China.org.cn | November 16, 2023
Speaker:
Mr. Sheng Laiyun, deputy commissioner of the National Bureau of Statistics
Chairperson:
Ms. Shou Xiaoli, deputy director general of the Press Bureau of the State Council Information Office (SCIO) and spokesperson of the SCIO
Date:
Oct. 18, 2023
Shou Xiaoli:
Ladies and gentlemen, good morning. Welcome to this press conference held by the State Council Information Office (SCIO). Today, we have our routine release of economic data, and we are very pleased to invite Mr. Sheng Laiyun, deputy commissioner of the National Bureau of Statistics (NBS), to brief you on the national economic performance of the first three quarters of 2023, and to take your questions.
Now, let's give the floor to Mr. Sheng for his introduction.
Sheng Laiyun:
Friends from the media, ladies and gentlemen, good morning. I'm very glad to be here again. As usual, first, I'll brief you on the national economic performance of the first three quarters of 2023, and then I'll answer your questions.
In the first three quarters, the national economy maintained an encouraging momentum of rebound and secured steady, high-quality development. In this period, faced with grave and complex international environment and challenging tasks in promoting reform, development and stability at home, under the strong leadership of the Central Committee of the Communist Party of China (CPC) with Comrade Xi Jinping at its core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, adhered to the general principle of pursuing progress while ensuring stability, and fully applied the new development philosophy on all fronts. All regions and departments accelerated efforts to foster a new development pattern, took solid steps to promote high-quality development, implemented macroeconomic policy regulation in a precise and robust way, and made efforts to expand domestic demand, boost confidence, and fend off risks. As a result, the national economy sustained the momentum of recovery and improvement with positive factors amassing, as production and supply increased steadily, market demands continued to expand, employment and prices generally improved, and quality of development enhanced steadily.
According to the preliminary estimates, the gross domestic product (GDP) in the first three quarters reached 91,302.7 billion yuan, a year-on-year increase of 5.2% at constant price. By industry, the value added of the primary industry was 5,637.4 billion yuan, up by 4.0% year on year; that of the secondary industry was 35,365.9 billion yuan, up by 4.4%; and that of the tertiary industry was 50,299.3 billion yuan, up by 6.0%. By quarter, the GDP for the first quarter increased by 4.5% year on year, for the second quarter 6.3%, and for the third quarter 4.9%. The quarter-on-quarter GDP for the third quarter increased by 1.3%.
1. Agricultural production was generally good and production of animal husbandry grew steadily.
In the first three quarters, the value added of agriculture (crop farming) went up by 3.6% year on year. The total output of summer grain totaled 146.13 million tons, 0.9% lower than that of last year, ranking the second highest in history; that for early rice was 28.34 million tons, up by 0.8%. The autumn grain generally grew well with the sown area being stable with an increase, and another bumper harvest is expected for the year. In the first three quarters, the output of pork, beef, mutton and poultry was 69.74 million tons, up by 3.9% year on year. Specifically, the output of pork, beef, mutton and poultry was up by 3.6%, 5.0%, 5.2% and 4.0%, respectively; that of milk went up by 7.2% and eggs up by 2.1%. At the end of the third quarter, the number of pigs registered in stock was 442.29 million, down by 0.4% year on year. For the first three quarters, 537.23 million pigs were slaughtered, up by 3.3%.
2. Industrial production saw accelerated recovery and equipment manufacturing grew fast.
In the first three quarters, the total value added of industrial enterprises above the designated size grew by 4.0% year on year, 0.2 percentage points higher than that of the first half year. In terms of sectors, the value added of mining increased by 1.7% year on year, manufacturing went up by 4.4% and the production and supply of electricity, thermal power, gas and water grew by 3.5%. The value added of equipment manufacturing went up by 6.0%, 2.0 percentage points faster than that of the whole industrial enterprises above the designated size. An analysis by types of ownership showed that the value added of state holding enterprises was up by 4.6% year on year; that of share-holding enterprises was up by 4.8%; that of enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan was up by 0.5%; and that of private enterprises was up by 2.3%. In term of products, the output of solar cells, charging piles and new-energy vehicles went up by 63.2%, 34.2% and 26.7%, respectively. In September, the total value added of industrial enterprises above the designated size increased by 4.5% year on year, the same as that of last month, 0.8 percentage points faster than that of July; or a month-on-month growth of 0.36%. In the first eight months, the total profits made by industrial enterprises above the designated size went down by 11.7% year on year, a decline narrowed by 5.1 percentage points compared with that in the first half year. Specifically, that for August went up by 17.2% year on year. In September, the Manufacturing Purchasing Managers' Index stood at 50.2%, 0.5 percentage points higher than that of last month and the Production and Operation Expectation Index was 55.5%.
3. Service sector maintained fast recovery and contact-and-gathering-based services and modern service industries played a stronger driving role.
In the first three quarters, the value added of services went up by 6.0% year on year. Specifically, the value added of accommodation and catering, information transmission, software and information technology services, leasing and business services, transport, storage and postal services and financial intermediation grew by 14.4%, 12.1%, 9.5%, 7.5% and 7.0%, respectively. In September, the Index of Services Production increased by 6.9% year on year, 0.1 percentage points higher than that of last month, and the growth rate kept picking up for two months in a row. Specifically, the Index of Services Production of accommodation and catering, information transmission, software and information technology services and transport, storage and postal services went up by 17.7%, 11.3% and 9.3%, respectively. In the first eight months, the business revenue of service enterprises above the designated size grew by 7.2% year on year. In September, the Business Activity Index for Services stood at 50. 9%, 0.4 percentage points higher than last month; and the Business Activity Expectation Index was 58.1%. Specifically, the Business Activity Index for water transportation, postal services, telecommunication, broadcast, television and satellite transmission services, Internet, software and information technology services and monetary and financial services stayed within the high expansion range of 55.0% and above.
4. Market sales was getting active and consumption of services grew fast.
In the first three quarters, the total retail sales of consumer goods reached 34,210.7 billion yuan, up by 6.8% year on year. Analyzed by different areas, the retail sales of consumer goods in urban areas reached 29,641.0 billion yuan, up by 6.7% year on year, and that in rural areas reached 4,569.7 billion yuan, up by 7.4%. Grouped by consumption patterns, the retail sales of goods were 30,500.2 billion yuan, up by 5.5%; the income of catering was 3,710.5 billion yuan, up by 18.7%. The sales of goods for basic living saw steady growth, with the retail sales of clothes, shoes, hats and textiles and of grain, oil and food by business above the designated size up by 10.6% and 5.3%, respectively. The sales of upgraded goods went up rapidly. The retail sales of gold, silver and jewelry, sports and recreational articles, and cosmetics by business above the designated size were up by 12.2%, 8.3% and 6.8%, respectively. The online retail sales reached 10,819.8 billion yuan, up by 11.6% year on year. Specifically, the online retail sales of physical goods were 9,043.5 billion yuan, up by 8.9%, accounting for 26.4% of the total retail sales of consumer goods. In September, the total retail sales of consumer goods went up by 5.5% year on year, 0.9 percentage points higher than that of last month, and the growth rate kept increasing for two months in a row; or up by 0.02% month on month. In the first three quarters, the retail sales of services went up by 18.9% year on year.
