China's 2018 GDP announces full-year growth of 6.6 per cent in line with market expectations-Shanghai Metals Market

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China's 2018 GDP announces full-year growth of 6.6 per cent in line with market expectations

Translation 10:35:49AM Jan 21, 2019 Source:Shanghai Nonferrous Metals Network
The content below was translated by Tencent automatically for reference.

SMM1, 21 January: at 10:00 on January 21, the National Bureau of Statistics released 2018 China GDP, China 2018 GDP 6.6%, expected 6.6%, 2017 6.8%. China's GDP in the fourth quarter was 6.4 per cent from a year earlier and is expected to be 6.4 per cent, compared with a previous value of 6.5 per cent. China's GDP growth rate in the first three quarters of 2018 was 6.8 per cent, 6.7 per cent and 6.5 per cent, respectively.

According to preliminary accounting, the gross domestic product for the whole year was 90.0309 trillion yuan, an increase of 6.6 percent over the previous year at comparable prices, and the expected development target of 6.5 percent was achieved. Quarterly growth was 6.8% in the first quarter compared with the same period last year, 6.7% in the second quarter, 6.5% in the third quarter and 6.4% in the fourth quarter. In terms of industry, the added value of the primary industry was 6.4734 trillion yuan, an increase of 3.5 percent over the previous year; the added value of the secondary industry was 36.6001 trillion yuan, an increase of 5.8 percent; and the added value of the tertiary industry was 46.9575 trillion yuan, an increase of 7.6 percent.

I. maintaining high yield of grain and overall stability of animal husbandry

For the whole year, the country's total grain output was 657.89 million tons, down 0.6 percent from the previous year, still a year of historical high yield, maintaining more than 650 million tons for four consecutive years. Among them, the output of summer grain is 138.78 million tons, the output of early rice is 28.59 million tons, and the output of autumn grain is 490.52 million tons. Cotton output was 6.1 million tons, an increase of 7.8 per cent over the previous year. The planting structure was further optimized, the sown area of high-quality rice expanded, the sown area of corn continued to decrease, the acreage of soybeans increased, and the acreage of cotton, sugar and Chinese herbal medicine crops increased.

For the whole year, the output of pigs, cattle, sheep and poultry was 85.17 million tons, down 0.3 percent from the previous year. Of these, pork production was 54.04 million tons, down 0.9 per cent; beef production was 6.44 million tons, up 1.5 per cent; mutton production was 4.75 million tons, up 0.8 per cent; and poultry production was 19.94 million tons, up 0.6 per cent. There were 428.17 million live pigs, down 3.0 per cent from the previous year, and 693.82 million live pigs, down 1.2 per cent. II. Steady growth of industrial production and rapid growth of new industries

For the whole year, the added value of industries above scale increased by 6.2% in real terms over the previous year, and the growth rate slowed down and stabilized. In terms of economic types, the added value of state-owned holding enterprises increased by 6.2%, collective enterprises decreased by 1.2%, joint-stock enterprises increased by 6.6%, and foreign investors and enterprises invested by Hong Kong, Macao and Taiwan increased by 4.8%. In three categories, the added value of the mining industry increased by 2.3%, the manufacturing sector increased by 6.5%, and the electricity, heat, gas and water production and supply sectors increased by 9.9%. The added value of high-tech manufacturing industry, strategic emerging industry and equipment manufacturing industry increased by 11.7%, 8.9% and 8.1% respectively over the previous year, and the growth rate was 5.5%, 2.7% and 1.9% faster than that of industries above scale, respectively. The output of emerging industrial products is growing rapidly. Railway passenger cars, microwave terminals, new energy vehicles, bio-based chemical fibers, intelligent televisions, lithium-ion batteries and integrated circuits increased by 183.0%, 104.5%, 40.1%, 23.5% and 18.7%, respectively. 12.9% and 9.7%. In December, the added value of industries above scale rose 5.7 percent from a year earlier, 0.3 percentage points faster than the previous month, and 0.54 percent more than the previous month.

From January to November, the total profits of industrial enterprises above scale reached 6.1169 trillion yuan, an increase of 11.8 percent over the same period last year. The profit margin of the main business income of industrial enterprises above scale was 6.48 percent, an increase of 0.16 percentage points over the same period last year. Third, the service industry has maintained a relatively rapid development and is continuously in the economic range.

For the whole year, the national service industry production index increased by 7.7 percent over the previous year, maintaining a relatively rapid growth. Of this total, information transmission, software and information technology services, rental and business services increased by 37.0 per cent and 10.1 per cent, respectively. In December, the national index of service industry production rose 7.3 percent from a year earlier, 0.1 percentage points higher than the previous month. From January to November, the operating income of service enterprises above size increased by 11.5 percent over the same period last year, of which, The operating income of enterprises in strategic emerging services, science and technology services and high-tech services increased by 14.9%, 15.0% and 13.4% respectively over the same period last year. The operating profit of service enterprises above size increased by 5.7%.

In December, the index of business activity in the service sector was 52.3%, which was in the economic range. The business activity indexes of railway transport, telecommunications, radio and television and satellite transmission services, monetary and financial services, insurance and other financial industries are all in the higher economic range of more than 60.0%. Judging from market expectations, the expected index of business activity in the service sector was 60.2 percent, up 0.6 percentage points from the previous month. IV. Steady and rapid growth in market sales, and a marked increase in the proportion of online retail sales

In 2001, retail sales of consumer goods totaled 38.0987 trillion yuan, an increase of 9.0 percent over the previous year, and maintained a relatively rapid growth. Of this total, retail sales of consumer goods above the quota totaled 14.5311 trillion yuan, an increase of 5.7 per cent. According to the location of the business units, retail sales of consumer goods in cities and towns totaled 32.5637 trillion yuan, up 8.8 percent, while retail sales of consumer goods in rural areas totaled 5.535 trillion yuan, an increase of 10.1 percent. According to the type of consumption, catering income was 4.2716 trillion yuan, up 9.5 percent, and retail sales was 33.8271 trillion yuan, up 8.9 percent. Goods in the category of consumption upgrading have grown rapidly. For the whole year, the growth rates of retail sales of cosmetics, household appliances, audio-visual equipment and communications equipment were 3.9, 3.2 and 1.4 percentage points higher than those of consumer goods above the quota, respectively. In December, retail sales of consumer goods increased by 8.2% from a year earlier and 0.55% from a month earlier.

In 2001, online retail sales nationwide totaled 9.0065 trillion yuan, an increase of 23.9 percent over the previous year. Of this total, online retail sales of physical goods totaled 7.0198 trillion yuan, an increase of 25.4 percent, accounting for 18.4 percent of the total retail sales of consumer goods, an increase of 3.4 percentage points over the previous year, and online retail sales of non-physical goods totaled 1.9867 trillion yuan, an increase of 18.7 percent. V. the growth of investment has slowed down and stabilized, and the growth rate of investment in the manufacturing industry and private investment has been accelerated.

For the whole year, the country's investment in fixed assets (excluding farmers) was 63.5636 trillion yuan, an increase of 5.9 percent over the previous year, and the growth rate was 0.5 percentage points faster than that in the previous three quarters. Of this total, private investment totaled 39.4051 trillion yuan, an increase of 8.7 percent, an increase of 2.7 percent over the previous year. In terms of industry, investment in the primary industry increased by 12.9 percent, 1.1 percentage points faster than the previous year. Investment in the secondary industry increased by 6.2 percent, an increase of 3.0 percentage points, of which investment in the manufacturing industry increased by 9.5 percent, an increase of 4.7 percentage points, and investment in the tertiary industry increased by 5.5 percent, of which infrastructure investment increased by 3.8 percent. Investment in the high-tech manufacturing industry and the equipment manufacturing industry increased by 16.1 percent and 11.1 percent respectively over the previous year, 6.6 and 1.6 percentage points faster than the manufacturing industry, respectively. Fixed asset investment rose 0.42 per cent in December from a month earlier. Investment in real estate development nationwide totaled 12.0264 trillion yuan, an increase of 9.5 percent over the previous year. Nationwide, the sales area of commercial housing was 1.71654 billion square meters, an increase of 1.3 percent, of which the area of residential sales increased by 2.2 percent. Sales of commercial housing nationwide totaled 14.9973 trillion yuan, an increase of 12.2 percent, of which residential sales increased by 14.7 percent. VI. The total volume of imports and exports has reached an all-time high, and the trade structure has been continuously optimized.

For the whole year, the total volume of imports and exports of goods was 30.505 trillion yuan, an increase of 9.7 percent over the previous year; the total volume of trade exceeded 30 trillion yuan for the first time, reaching an all-time high; the goal of volume growth, structural optimization, and steady progress in import and export was better achieved. Of this total, exports totaled 16.4177 trillion yuan, up 7.1 percent, and imports totaled 14.0874 trillion yuan, up 12.9 percent. The surplus between imports and exports was 2.3303 trillion yuan, 18.3 percent smaller than the previous year. The proportion of general trade imports and exports in the total import and export volume was 57.8 percent, an increase of 1.4 percentage points over the previous year. Exports of mechanical and electrical products increased by 7.9 percent, accounting for 58.8 percent of the total, an increase of 0.4 percentage points over the previous year. China's imports and exports to major trading partners increased in an all-round way, with imports and exports to the European Union, the United States and ASEAN increasing by 7.9%, 5.7% and 11.2%, respectively. With the "Belt and Road Initiative" countries along the import and export growth trend is good, "Belt and Road Initiative" along the countries along the total import and export growth rate of 13.3%, higher than the total growth rate of goods import and export by 3.6 percentage points. For the whole year, industrial enterprises with a scale or above achieved an export delivery value of 12.3932 trillion yuan, an increase of 8.5 percent over the previous year. VII. Consumer prices rose moderately, while industrial producer prices fell

For the whole year, consumer prices rose 2.1% from the previous year, in a moderate range, below the expected target of about 3%. Of this total, cities rose 2.1 per cent and rural areas rose 2.1 per cent. In terms of categories, the prices of food, tobacco and alcohol, clothing, housing, daily necessities and services, transportation and communications, education, culture and entertainment increased by 1.9%, 1.2%, 2.4%, 1.6%, 1.7% and 2.2%, respectively. Health care rose 4.3 per cent and other supplies and services rose 1.2 per cent. Among food, tobacco and alcohol prices, food prices rose 0.8%, pork prices fell 8.1%, and fresh vegetable prices rose 7.1%. Core CPI, excluding food and energy prices, rose 1.9 per cent, down 0.3 percentage points from the previous year. Consumer prices rose 1.9% in December from a year earlier, unchanged from the previous month. For the whole year, producer prices rose 3.5 percent over the previous year, down 2.8 percentage points from the previous year, and 0.9 percent in December from a year earlier, down 1.0 percent from the previous month. For the whole year, purchase prices for industrial producers rose 4.1 percent over the previous year, up 1.6 percent in December from a year earlier, and down 0.9 percent from the previous month. VIII. The employment situation remains stable and the unemployment rate of urban surveys drops.

In 2001, 13.61 million new jobs were created in cities and towns, an increase of 100000 over the previous year, and remained at more than 13 million for six consecutive years, achieving 123.7 percent of the total target for the whole year. In December, the unemployment rate in the national urban survey was 4.9 percent, down 0.1 percentage points from the same month last year. In 2018, the national urban survey unemployment rate remained between 4.8% and 5.1%, achieving the expected target of less than 5.5%. In December, the unemployment rate in 31 major cities and towns was 4.7 percent, down 0.2 percentage points from the same month last year. Among them, the unemployment rate of the national main group of employed people aged 25 to 59 was 4.4%, the same as last month. At the end of the year, 775.86 million people were employed throughout the country, of whom 434.19 million were employed in cities and towns. In 2001, the total number of migrant workers was 288.36 million, an increase of 1.84 million, or 0.6 per cent, over the previous year. Of these, 115.7 million were local migrant workers, up 0.9 per cent, and 172.66 million were migrant workers, up 0.5 per cent. The average monthly income of migrant workers was 3721 yuan, an increase of 6.8 per cent over the previous year. 9. Residents' income and consumption have increased steadily, and the growth of income and expenditure of rural residents is faster than that of cities and towns.

For the whole year, the per capita disposable income of residents throughout the country was 28228 yuan, an increase of 8.7 percent in nominal terms over the previous year, and a real increase of 6.5 percent after deducting price factors, faster than the growth rate of GDP per capita and in line with economic growth. On the basis of permanent residence, the per capita disposable income of urban residents was 39251 yuan, an increase of 7.8 percent in nominal terms over the previous year, and an increase of 5.6 percent in real terms after deducting price factors. The per capita disposable income of rural residents was 14617 yuan, an increase of 8.8 percent in nominal terms over the previous year, and an increase of 6.6 percent in real terms after deducting price factors. The per capita income difference between urban and rural residents was 2.69, 0.02 less than the previous year. The median per capita disposable income of residents nationwide was 24336 yuan, an increase of 8.6 percent in nominal terms over the previous year. According to the five equal incomes of residents throughout the country, the per capita disposable income of the low income group is 6440 yuan, the average disposable income of the lower middle income group is 14361 yuan, the per capita disposable income of the middle income group is 23189 yuan, and the per capita disposable income of the upper middle income group is 36471 yuan. The per capita disposable income of the high income group was 70640 yuan.

For the whole year, the per capita consumption expenditure of residents throughout the country was 19853 yuan, an increase of 8.4 percent in nominal terms over the previous year, an increase of 1.3 percentage points over the previous year, and a real increase of 6.2 percent, an increase of 0.8 percentage points over the previous year. Of this total, the per capita consumption expenditure of urban residents was 26112 yuan, an increase of 6.8 percent in nominal terms, an increase of 0.9 percentage points over the previous year, and that of rural residents was 12124 yuan, a nominal increase of 10.7 percent, an increase of 2.6 percentage points over the previous year. 10. supply-side structural reform has been promoted in depth, and the trend of economic transformation and upgrading has continued.

The key tasks of "three go, one reduction and one replenishment" have been pushed forward in a down-to-earth manner. In terms of production capacity, steel and coal annual production capacity tasks were completed ahead of schedule. The utilization rate of industrial capacity in China was 76.5%, of which the utilization rates of ferrous metal smelting and Calendering industry, coal mining and washing industry were 78.0% and 70.6% respectively, an increase of 2.2% and 2.4 percentage points over the previous year, respectively. In terms of deleveraging, corporate asset-liability ratios have fallen. At the end of November, the asset-liability ratio of industrial enterprises above size was 56.8%, down 0.4 percentage points from the same period last year, while the asset-liability ratio of state-owned holding enterprises was 59.1%, down 1.6 percentage points. In terms of inventory, the area of commercial housing for sale at the end of the year was 524.14 million square meters, down 11.0 percent from the end of last year. In terms of cost reduction, corporate costs continue to fall. From January to November, the cost of every 100 yuan of main business income of industrial enterprises above scale was 84.19 yuan, a decrease of 0.21 yuan over the same period last year. In terms of making up for the shortcomings, investment in weak links is growing rapidly. For the whole year, investment in ecological protection, environmental management and agriculture increased by 43.0% and 15.4% respectively, faster than all investment by 37.1% and 9.5%, respectively.

The economic structure continues to be optimized. In the whole year, the added value of the tertiary industry accounted for 52.2% of the gross domestic product, 0.3 percentage points higher than that of the previous year and 11.5 percentage points higher than that of the secondary industry. The contribution rate to GDP growth was 59.7 percent, an increase of 0.1 percentage points over the previous year. Consumption, as the main driving force of economic growth, was further consolidated. The contribution rate of final consumer expenditure to GDP growth was 76.2%, an increase of 18.6 percentage points over the previous year and 43.8 percentage points higher than the total capital formation. Upgrade the consumption of residents and improve the quality. The Engel coefficient of national residents was 28.4 percent, down 0.9 percentage points from the previous year. In the whole year, service consumption accounted for 44.2 percent of the country's per capita consumption expenditure, an increase of 1.6 percentage points over the previous year. Green development has been promoted in a down-to-earth manner. The energy consumption of 10,000 yuan of gross domestic product (GDP) decreased by 3.1 percent over the previous year, achieving the expected target of a drop of more than 3 percent. The energy consumption structure continues to be optimized. In the whole year, the proportion of natural gas, hydropower, nuclear power, wind power and other clean energy consumption in the total energy consumption increased by about 1.3 percentage points over the previous year. 11. The total population has grown steadily, and the urbanization rate has continued to increase.

At the end of the year, the total population of mainland China (including 31 provinces, autonomous regions, municipalities directly under the Central Government and the Chinese people's Liberation Army, excluding the number of Hong Kong and Macao Special Administrative regions, Taiwan Province and overseas Chinese) was 1.39538 billion, an increase of 5.3 million over the end of last year. In the whole year, there were 15.23 million births, with a birth rate of 10.94 per thousand, a death rate of 9.93 million, a mortality rate of 7.13 per thousand, and a natural population growth rate of 3.81 per thousand. In terms of gender structure, there are 713.51 million males and 681.87 million females, and the sex ratio of the total population is 104.64. In terms of age composition, the working age population aged 16 to 59 is 897.29 million, accounting for 64.3% of the total population. There are 249.49 million people aged 60 and above, accounting for 17.9% of the total population, of which 166.58 million are aged 65 and above, accounting for 11.9% of the total population. From the perspective of urban and rural structure, the urban resident population is 831.37 million, an increase of 17.9 million over the end of last year, and the rural resident population is 564.01 million, a decrease of 12.6 million. The proportion of urban population in the total population (urbanization rate) was 59.58%, an increase of 1.06 percentage points over the end of last year. The national population separated from households (that is, the population whose place of residence and place of household registration are not in the same township street and have left the place of household registration for more than half a year) is 286 million, 4.5 million fewer than at the end of last year; Of these, the floating population was 241 million, 3.78 million fewer than at the end of last year.

Generally speaking, the national economy continued to operate within a reasonable range in 2018, achieving overall stability and steady progress. At the same time, it should also be noted that there are changes and worries in the course of steady economic operation, the external environment is complex and severe, the economy is facing downward pressure, and the problems in progress must be solved in a targeted manner. In 2019, under the guidance of Xi Jinping's thought on socialism with Chinese characteristics in the new era, we should continue to seize and make good use of the period of important strategic opportunities, adhere to the general tone of seeking progress in stability, adhere to the new concept of development, and persist in promoting high-quality development. We will persist in taking supply-side structural reform as the main line, continue to do a good job in tackling the three major challenges, strive to stimulate market vitality, demand potential, and endogenous power, and make overall efforts to stabilize growth, promote reform, adjust structure, benefit people's livelihood, and prevent risks. Macro policies should strengthen counter-cyclical regulation, structural policies should strengthen the construction of institutional mechanisms, social policies should strengthen the function of undercover security, and maintain sustained and healthy economic development and stability of the overall social situation. Lay a decisive foundation for building a well-off society in an all-round way and present a gift to the 70th anniversary of the founding of the people's Republic of China!

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Key Words:  China's economy  GDP  grain  population 

China's 2018 GDP announces full-year growth of 6.6 per cent in line with market expectations

Translation 10:35:49AM Jan 21, 2019 Source:Shanghai Nonferrous Metals Network
The content below was translated by Tencent automatically for reference.

SMM1, 21 January: at 10:00 on January 21, the National Bureau of Statistics released 2018 China GDP, China 2018 GDP 6.6%, expected 6.6%, 2017 6.8%. China's GDP in the fourth quarter was 6.4 per cent from a year earlier and is expected to be 6.4 per cent, compared with a previous value of 6.5 per cent. China's GDP growth rate in the first three quarters of 2018 was 6.8 per cent, 6.7 per cent and 6.5 per cent, respectively.

According to preliminary accounting, the gross domestic product for the whole year was 90.0309 trillion yuan, an increase of 6.6 percent over the previous year at comparable prices, and the expected development target of 6.5 percent was achieved. Quarterly growth was 6.8% in the first quarter compared with the same period last year, 6.7% in the second quarter, 6.5% in the third quarter and 6.4% in the fourth quarter. In terms of industry, the added value of the primary industry was 6.4734 trillion yuan, an increase of 3.5 percent over the previous year; the added value of the secondary industry was 36.6001 trillion yuan, an increase of 5.8 percent; and the added value of the tertiary industry was 46.9575 trillion yuan, an increase of 7.6 percent.

I. maintaining high yield of grain and overall stability of animal husbandry

For the whole year, the country's total grain output was 657.89 million tons, down 0.6 percent from the previous year, still a year of historical high yield, maintaining more than 650 million tons for four consecutive years. Among them, the output of summer grain is 138.78 million tons, the output of early rice is 28.59 million tons, and the output of autumn grain is 490.52 million tons. Cotton output was 6.1 million tons, an increase of 7.8 per cent over the previous year. The planting structure was further optimized, the sown area of high-quality rice expanded, the sown area of corn continued to decrease, the acreage of soybeans increased, and the acreage of cotton, sugar and Chinese herbal medicine crops increased.

For the whole year, the output of pigs, cattle, sheep and poultry was 85.17 million tons, down 0.3 percent from the previous year. Of these, pork production was 54.04 million tons, down 0.9 per cent; beef production was 6.44 million tons, up 1.5 per cent; mutton production was 4.75 million tons, up 0.8 per cent; and poultry production was 19.94 million tons, up 0.6 per cent. There were 428.17 million live pigs, down 3.0 per cent from the previous year, and 693.82 million live pigs, down 1.2 per cent. II. Steady growth of industrial production and rapid growth of new industries

For the whole year, the added value of industries above scale increased by 6.2% in real terms over the previous year, and the growth rate slowed down and stabilized. In terms of economic types, the added value of state-owned holding enterprises increased by 6.2%, collective enterprises decreased by 1.2%, joint-stock enterprises increased by 6.6%, and foreign investors and enterprises invested by Hong Kong, Macao and Taiwan increased by 4.8%. In three categories, the added value of the mining industry increased by 2.3%, the manufacturing sector increased by 6.5%, and the electricity, heat, gas and water production and supply sectors increased by 9.9%. The added value of high-tech manufacturing industry, strategic emerging industry and equipment manufacturing industry increased by 11.7%, 8.9% and 8.1% respectively over the previous year, and the growth rate was 5.5%, 2.7% and 1.9% faster than that of industries above scale, respectively. The output of emerging industrial products is growing rapidly. Railway passenger cars, microwave terminals, new energy vehicles, bio-based chemical fibers, intelligent televisions, lithium-ion batteries and integrated circuits increased by 183.0%, 104.5%, 40.1%, 23.5% and 18.7%, respectively. 12.9% and 9.7%. In December, the added value of industries above scale rose 5.7 percent from a year earlier, 0.3 percentage points faster than the previous month, and 0.54 percent more than the previous month.

From January to November, the total profits of industrial enterprises above scale reached 6.1169 trillion yuan, an increase of 11.8 percent over the same period last year. The profit margin of the main business income of industrial enterprises above scale was 6.48 percent, an increase of 0.16 percentage points over the same period last year. Third, the service industry has maintained a relatively rapid development and is continuously in the economic range.

For the whole year, the national service industry production index increased by 7.7 percent over the previous year, maintaining a relatively rapid growth. Of this total, information transmission, software and information technology services, rental and business services increased by 37.0 per cent and 10.1 per cent, respectively. In December, the national index of service industry production rose 7.3 percent from a year earlier, 0.1 percentage points higher than the previous month. From January to November, the operating income of service enterprises above size increased by 11.5 percent over the same period last year, of which, The operating income of enterprises in strategic emerging services, science and technology services and high-tech services increased by 14.9%, 15.0% and 13.4% respectively over the same period last year. The operating profit of service enterprises above size increased by 5.7%.

In December, the index of business activity in the service sector was 52.3%, which was in the economic range. The business activity indexes of railway transport, telecommunications, radio and television and satellite transmission services, monetary and financial services, insurance and other financial industries are all in the higher economic range of more than 60.0%. Judging from market expectations, the expected index of business activity in the service sector was 60.2 percent, up 0.6 percentage points from the previous month. IV. Steady and rapid growth in market sales, and a marked increase in the proportion of online retail sales

In 2001, retail sales of consumer goods totaled 38.0987 trillion yuan, an increase of 9.0 percent over the previous year, and maintained a relatively rapid growth. Of this total, retail sales of consumer goods above the quota totaled 14.5311 trillion yuan, an increase of 5.7 per cent. According to the location of the business units, retail sales of consumer goods in cities and towns totaled 32.5637 trillion yuan, up 8.8 percent, while retail sales of consumer goods in rural areas totaled 5.535 trillion yuan, an increase of 10.1 percent. According to the type of consumption, catering income was 4.2716 trillion yuan, up 9.5 percent, and retail sales was 33.8271 trillion yuan, up 8.9 percent. Goods in the category of consumption upgrading have grown rapidly. For the whole year, the growth rates of retail sales of cosmetics, household appliances, audio-visual equipment and communications equipment were 3.9, 3.2 and 1.4 percentage points higher than those of consumer goods above the quota, respectively. In December, retail sales of consumer goods increased by 8.2% from a year earlier and 0.55% from a month earlier.

In 2001, online retail sales nationwide totaled 9.0065 trillion yuan, an increase of 23.9 percent over the previous year. Of this total, online retail sales of physical goods totaled 7.0198 trillion yuan, an increase of 25.4 percent, accounting for 18.4 percent of the total retail sales of consumer goods, an increase of 3.4 percentage points over the previous year, and online retail sales of non-physical goods totaled 1.9867 trillion yuan, an increase of 18.7 percent. V. the growth of investment has slowed down and stabilized, and the growth rate of investment in the manufacturing industry and private investment has been accelerated.

For the whole year, the country's investment in fixed assets (excluding farmers) was 63.5636 trillion yuan, an increase of 5.9 percent over the previous year, and the growth rate was 0.5 percentage points faster than that in the previous three quarters. Of this total, private investment totaled 39.4051 trillion yuan, an increase of 8.7 percent, an increase of 2.7 percent over the previous year. In terms of industry, investment in the primary industry increased by 12.9 percent, 1.1 percentage points faster than the previous year. Investment in the secondary industry increased by 6.2 percent, an increase of 3.0 percentage points, of which investment in the manufacturing industry increased by 9.5 percent, an increase of 4.7 percentage points, and investment in the tertiary industry increased by 5.5 percent, of which infrastructure investment increased by 3.8 percent. Investment in the high-tech manufacturing industry and the equipment manufacturing industry increased by 16.1 percent and 11.1 percent respectively over the previous year, 6.6 and 1.6 percentage points faster than the manufacturing industry, respectively. Fixed asset investment rose 0.42 per cent in December from a month earlier. Investment in real estate development nationwide totaled 12.0264 trillion yuan, an increase of 9.5 percent over the previous year. Nationwide, the sales area of commercial housing was 1.71654 billion square meters, an increase of 1.3 percent, of which the area of residential sales increased by 2.2 percent. Sales of commercial housing nationwide totaled 14.9973 trillion yuan, an increase of 12.2 percent, of which residential sales increased by 14.7 percent. VI. The total volume of imports and exports has reached an all-time high, and the trade structure has been continuously optimized.

For the whole year, the total volume of imports and exports of goods was 30.505 trillion yuan, an increase of 9.7 percent over the previous year; the total volume of trade exceeded 30 trillion yuan for the first time, reaching an all-time high; the goal of volume growth, structural optimization, and steady progress in import and export was better achieved. Of this total, exports totaled 16.4177 trillion yuan, up 7.1 percent, and imports totaled 14.0874 trillion yuan, up 12.9 percent. The surplus between imports and exports was 2.3303 trillion yuan, 18.3 percent smaller than the previous year. The proportion of general trade imports and exports in the total import and export volume was 57.8 percent, an increase of 1.4 percentage points over the previous year. Exports of mechanical and electrical products increased by 7.9 percent, accounting for 58.8 percent of the total, an increase of 0.4 percentage points over the previous year. China's imports and exports to major trading partners increased in an all-round way, with imports and exports to the European Union, the United States and ASEAN increasing by 7.9%, 5.7% and 11.2%, respectively. With the "Belt and Road Initiative" countries along the import and export growth trend is good, "Belt and Road Initiative" along the countries along the total import and export growth rate of 13.3%, higher than the total growth rate of goods import and export by 3.6 percentage points. For the whole year, industrial enterprises with a scale or above achieved an export delivery value of 12.3932 trillion yuan, an increase of 8.5 percent over the previous year. VII. Consumer prices rose moderately, while industrial producer prices fell

For the whole year, consumer prices rose 2.1% from the previous year, in a moderate range, below the expected target of about 3%. Of this total, cities rose 2.1 per cent and rural areas rose 2.1 per cent. In terms of categories, the prices of food, tobacco and alcohol, clothing, housing, daily necessities and services, transportation and communications, education, culture and entertainment increased by 1.9%, 1.2%, 2.4%, 1.6%, 1.7% and 2.2%, respectively. Health care rose 4.3 per cent and other supplies and services rose 1.2 per cent. Among food, tobacco and alcohol prices, food prices rose 0.8%, pork prices fell 8.1%, and fresh vegetable prices rose 7.1%. Core CPI, excluding food and energy prices, rose 1.9 per cent, down 0.3 percentage points from the previous year. Consumer prices rose 1.9% in December from a year earlier, unchanged from the previous month. For the whole year, producer prices rose 3.5 percent over the previous year, down 2.8 percentage points from the previous year, and 0.9 percent in December from a year earlier, down 1.0 percent from the previous month. For the whole year, purchase prices for industrial producers rose 4.1 percent over the previous year, up 1.6 percent in December from a year earlier, and down 0.9 percent from the previous month. VIII. The employment situation remains stable and the unemployment rate of urban surveys drops.

In 2001, 13.61 million new jobs were created in cities and towns, an increase of 100000 over the previous year, and remained at more than 13 million for six consecutive years, achieving 123.7 percent of the total target for the whole year. In December, the unemployment rate in the national urban survey was 4.9 percent, down 0.1 percentage points from the same month last year. In 2018, the national urban survey unemployment rate remained between 4.8% and 5.1%, achieving the expected target of less than 5.5%. In December, the unemployment rate in 31 major cities and towns was 4.7 percent, down 0.2 percentage points from the same month last year. Among them, the unemployment rate of the national main group of employed people aged 25 to 59 was 4.4%, the same as last month. At the end of the year, 775.86 million people were employed throughout the country, of whom 434.19 million were employed in cities and towns. In 2001, the total number of migrant workers was 288.36 million, an increase of 1.84 million, or 0.6 per cent, over the previous year. Of these, 115.7 million were local migrant workers, up 0.9 per cent, and 172.66 million were migrant workers, up 0.5 per cent. The average monthly income of migrant workers was 3721 yuan, an increase of 6.8 per cent over the previous year. 9. Residents' income and consumption have increased steadily, and the growth of income and expenditure of rural residents is faster than that of cities and towns.

For the whole year, the per capita disposable income of residents throughout the country was 28228 yuan, an increase of 8.7 percent in nominal terms over the previous year, and a real increase of 6.5 percent after deducting price factors, faster than the growth rate of GDP per capita and in line with economic growth. On the basis of permanent residence, the per capita disposable income of urban residents was 39251 yuan, an increase of 7.8 percent in nominal terms over the previous year, and an increase of 5.6 percent in real terms after deducting price factors. The per capita disposable income of rural residents was 14617 yuan, an increase of 8.8 percent in nominal terms over the previous year, and an increase of 6.6 percent in real terms after deducting price factors. The per capita income difference between urban and rural residents was 2.69, 0.02 less than the previous year. The median per capita disposable income of residents nationwide was 24336 yuan, an increase of 8.6 percent in nominal terms over the previous year. According to the five equal incomes of residents throughout the country, the per capita disposable income of the low income group is 6440 yuan, the average disposable income of the lower middle income group is 14361 yuan, the per capita disposable income of the middle income group is 23189 yuan, and the per capita disposable income of the upper middle income group is 36471 yuan. The per capita disposable income of the high income group was 70640 yuan.

For the whole year, the per capita consumption expenditure of residents throughout the country was 19853 yuan, an increase of 8.4 percent in nominal terms over the previous year, an increase of 1.3 percentage points over the previous year, and a real increase of 6.2 percent, an increase of 0.8 percentage points over the previous year. Of this total, the per capita consumption expenditure of urban residents was 26112 yuan, an increase of 6.8 percent in nominal terms, an increase of 0.9 percentage points over the previous year, and that of rural residents was 12124 yuan, a nominal increase of 10.7 percent, an increase of 2.6 percentage points over the previous year. 10. supply-side structural reform has been promoted in depth, and the trend of economic transformation and upgrading has continued.

The key tasks of "three go, one reduction and one replenishment" have been pushed forward in a down-to-earth manner. In terms of production capacity, steel and coal annual production capacity tasks were completed ahead of schedule. The utilization rate of industrial capacity in China was 76.5%, of which the utilization rates of ferrous metal smelting and Calendering industry, coal mining and washing industry were 78.0% and 70.6% respectively, an increase of 2.2% and 2.4 percentage points over the previous year, respectively. In terms of deleveraging, corporate asset-liability ratios have fallen. At the end of November, the asset-liability ratio of industrial enterprises above size was 56.8%, down 0.4 percentage points from the same period last year, while the asset-liability ratio of state-owned holding enterprises was 59.1%, down 1.6 percentage points. In terms of inventory, the area of commercial housing for sale at the end of the year was 524.14 million square meters, down 11.0 percent from the end of last year. In terms of cost reduction, corporate costs continue to fall. From January to November, the cost of every 100 yuan of main business income of industrial enterprises above scale was 84.19 yuan, a decrease of 0.21 yuan over the same period last year. In terms of making up for the shortcomings, investment in weak links is growing rapidly. For the whole year, investment in ecological protection, environmental management and agriculture increased by 43.0% and 15.4% respectively, faster than all investment by 37.1% and 9.5%, respectively.

The economic structure continues to be optimized. In the whole year, the added value of the tertiary industry accounted for 52.2% of the gross domestic product, 0.3 percentage points higher than that of the previous year and 11.5 percentage points higher than that of the secondary industry. The contribution rate to GDP growth was 59.7 percent, an increase of 0.1 percentage points over the previous year. Consumption, as the main driving force of economic growth, was further consolidated. The contribution rate of final consumer expenditure to GDP growth was 76.2%, an increase of 18.6 percentage points over the previous year and 43.8 percentage points higher than the total capital formation. Upgrade the consumption of residents and improve the quality. The Engel coefficient of national residents was 28.4 percent, down 0.9 percentage points from the previous year. In the whole year, service consumption accounted for 44.2 percent of the country's per capita consumption expenditure, an increase of 1.6 percentage points over the previous year. Green development has been promoted in a down-to-earth manner. The energy consumption of 10,000 yuan of gross domestic product (GDP) decreased by 3.1 percent over the previous year, achieving the expected target of a drop of more than 3 percent. The energy consumption structure continues to be optimized. In the whole year, the proportion of natural gas, hydropower, nuclear power, wind power and other clean energy consumption in the total energy consumption increased by about 1.3 percentage points over the previous year. 11. The total population has grown steadily, and the urbanization rate has continued to increase.

At the end of the year, the total population of mainland China (including 31 provinces, autonomous regions, municipalities directly under the Central Government and the Chinese people's Liberation Army, excluding the number of Hong Kong and Macao Special Administrative regions, Taiwan Province and overseas Chinese) was 1.39538 billion, an increase of 5.3 million over the end of last year. In the whole year, there were 15.23 million births, with a birth rate of 10.94 per thousand, a death rate of 9.93 million, a mortality rate of 7.13 per thousand, and a natural population growth rate of 3.81 per thousand. In terms of gender structure, there are 713.51 million males and 681.87 million females, and the sex ratio of the total population is 104.64. In terms of age composition, the working age population aged 16 to 59 is 897.29 million, accounting for 64.3% of the total population. There are 249.49 million people aged 60 and above, accounting for 17.9% of the total population, of which 166.58 million are aged 65 and above, accounting for 11.9% of the total population. From the perspective of urban and rural structure, the urban resident population is 831.37 million, an increase of 17.9 million over the end of last year, and the rural resident population is 564.01 million, a decrease of 12.6 million. The proportion of urban population in the total population (urbanization rate) was 59.58%, an increase of 1.06 percentage points over the end of last year. The national population separated from households (that is, the population whose place of residence and place of household registration are not in the same township street and have left the place of household registration for more than half a year) is 286 million, 4.5 million fewer than at the end of last year; Of these, the floating population was 241 million, 3.78 million fewer than at the end of last year.

Generally speaking, the national economy continued to operate within a reasonable range in 2018, achieving overall stability and steady progress. At the same time, it should also be noted that there are changes and worries in the course of steady economic operation, the external environment is complex and severe, the economy is facing downward pressure, and the problems in progress must be solved in a targeted manner. In 2019, under the guidance of Xi Jinping's thought on socialism with Chinese characteristics in the new era, we should continue to seize and make good use of the period of important strategic opportunities, adhere to the general tone of seeking progress in stability, adhere to the new concept of development, and persist in promoting high-quality development. We will persist in taking supply-side structural reform as the main line, continue to do a good job in tackling the three major challenges, strive to stimulate market vitality, demand potential, and endogenous power, and make overall efforts to stabilize growth, promote reform, adjust structure, benefit people's livelihood, and prevent risks. Macro policies should strengthen counter-cyclical regulation, structural policies should strengthen the construction of institutional mechanisms, social policies should strengthen the function of undercover security, and maintain sustained and healthy economic development and stability of the overall social situation. Lay a decisive foundation for building a well-off society in an all-round way and present a gift to the 70th anniversary of the founding of the people's Republic of China!

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Key Words:  China's economy  GDP  grain  population