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National Bureau of Statistics: sustained and stable recovery of the national economy in August
Sep 15,2020 11:23CST
translation
The content below was translated by Tencent automatically for reference.

In August, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core, all localities and departments scientifically coordinated epidemic prevention and control and economic and social development in the face of the double pressure of epidemic situation and flood situation. Production demand continued to pick up, employment prices were generally stable, the dynamic vitality of development was further enhanced, and economic operation continued to recover steadily.

I. the recovery of industrial production has been accelerated, and the cumulative growth rate has changed from negative to positive.

In August, the added value of industries at and above the national scale increased by 5.6 percent over the same period last year, 0.8 percentage points faster than in July, and 1.02 percent higher than the previous month. From January to August, the added value of industries above the national scale increased by 0.4% compared with the same period last year, and the growth rate changed from negative to positive. In August, according to the type of economy, the added value of state-controlled enterprises increased by 5.2% compared with the same period last year; joint-stock enterprises grew by 5.8%; foreign investors and Hong Kong, Macao and Taiwan business investment enterprises increased by 5.3%; and private enterprises grew by 5.7%. Divided into three major categories, the added value of the mining industry increased by 1.6% compared with the same period last year, the manufacturing industry increased by 6.0%, and the electricity, heat, gas and water production and supply industries increased by 5.8%. In August, the added value of equipment manufacturing and high-tech manufacturing increased by 10.8% and 7.6% respectively over the same period last year, which was 5.2 and 2.0 percentage points faster than that of industries above scale. In terms of product output, the output of digging, shoveling and transportation machinery, industrial robots, smart phones, integrated circuits and microcomputer equipment increased by 34.1%, 32.5%, 12.1%, 12.1% and 12.0%, respectively.

From January to July, the total profits of industrial enterprises above scale nationwide totaled 3.1023 trillion yuan, down 8.1 percent from the same period last year, narrowing by 4.7 percentage points compared with the period from January to June. In July, the total profits of industrial enterprises above scale increased by 19.6 percent over the same period last year, 8.1 percentage points faster than in June.

II. The production of the service industry has grown steadily, and the bioactive service industry has continued to pick up.

In August, the national service industry production index rose 4.0% from a year earlier, up 0.5 percentage points from July. From January to August, the service sector production index fell 3.6% from a year earlier, 1.1 percentage points lower than in January-July. In terms of major industries, in August, the production index of information transmission, software and information technology services, real estate, transportation, warehousing and postal services increased by 13.8%, 9.4% and 3.3% respectively over the same period last year, up 0.1%, 1.6% and 1.2% respectively over July. In August, the service sector business activity index was 54.3%, up 1.2 percentage points from July. From the perspective of the industry, the business activity index of transportation, telecommunications and other industries was more than 60.0% for four consecutive months; accommodation, catering, culture, sports and entertainment and other industries showed signs of warming up, with the business activity index all higher than 57.0%; the business activity index of rental and business services rose to more than 50.0%.

From January to July, the business income of service enterprises above scale fell 3.8% from the same period last year, 0.9 percentage points lower than that in January-June. Of this total, the business income of information transmission, software and information technology services increased by 10.3%.

III. Market sales have changed from decline to rise, and online sales have continued to increase.

In August, retail sales of consumer goods totaled 3.3571 trillion yuan, an increase of 0.5 percent over the same period last year, changing from negative to positive for the first time this year; an increase of 1.25 percent month-on-month. From January to August, retail sales of consumer goods totaled 23.8029 trillion yuan, down 8.6 percent from the same period last year, or 1.3 percentage points lower than in January-July. In August, by location of business units, retail sales of consumer goods in cities and towns totaled 2.9273 trillion yuan, up 0.5 percent over the same period last year, while retail sales of rural consumer goods totaled 429.8 billion yuan, up 0.7 percent. According to the type of consumption, catering income was 361.9 billion yuan, down 7.0% from the same period last year, while retail sales were 2.9951 trillion yuan, up 1.5%. The sales of consumer upgrading commodities increased rapidly. In August, commodities in the categories of communication equipment, cosmetics, gold, silver and jewelry, and automobiles increased by 25.1%, 19.0%, 15.3% and 11.8%, respectively. Online retail continues to increase. From January to August, the country's online retail sales totaled 7.0326 trillion yuan, an increase of 9.5 percent over the same period last year, 0.5 percentage points higher than that of January-July. Of this total, online retail sales of physical goods increased by 15.8 percent, 0.1 percentage points higher than that of January-July, and accounted for 24.6 percent of the total retail sales of consumer goods.

IV. The rate of decline in investment in fixed assets has significantly narrowed, and the investment structure has continued to be optimized.

From January to August, national fixed asset investment (excluding farmers) fell 0.3 per cent from a year earlier, 1.3 percentage points lower than in January-July; it rose 4.18 per cent month-on-month in August. In terms of sectors, investment in infrastructure fell 0.3 percent from the same period last year, while investment in manufacturing dropped 8.1 percent, which was 0.7 and 2.1 percentage points lower than that in January-July, respectively. Investment in real estate development increased by 4.6 percent, 1.2 percentage points higher than in January-July. The sales area of commercial housing across the country was 984.86 million square meters, down 3.3% from the same period last year, 2.5% lower than in January-July; commercial housing sales totaled 9.6943 trillion yuan, up 1.6% from January to July, down 2.1% from January to July. In terms of sub-industries, investment in the primary industry increased by 11.5 percent over the same period last year, 3.8 percentage points higher than in January-July; investment in the secondary industry decreased by 4.8 percent, 2.6 percentage points lower than in January-July; and investment in the tertiary industry increased by 1.4 percent, 0.6 percentage points higher than in January-July. Investment in high-tech industries increased by 8.2 percent, 0.2 percentage points higher than in January-July, of which investment in high-tech manufacturing and high-tech services increased by 8.8 percent and 7.2 percent respectively. In high-tech manufacturing, investment in pharmaceutical manufacturing, electronics and communications equipment manufacturing increased by 18.3% and 7.8% respectively; in high-tech services, investment in e-commerce services and scientific and technological achievements transformation services increased by 29.7% and 18.2% respectively. Investment in the social sector increased by 8.1%, of which investment in health and education increased by 17.7% and 11.8% respectively. From January to August, the total planned investment in new projects increased by 12.1% compared with the same period last year, and the funds invested in place increased by 3.7%.

V. Import and export of goods maintain growth, and trade structure is adjusted and optimized.

In August, imports and exports of goods totaled 2.8839 trillion yuan, an increase of 6.0 percent over the same period last year. Of this total, exports totaled 1.6502 trillion yuan, up 11.6 percent, while imports totaled 1.2336 trillion yuan, down 0.5 percent. There is a balance between imports and exports, resulting in a trade surplus of 416.6 billion yuan. From January to August, the total volume of imports and exports of goods was 20.0488 trillion yuan, down 0.6 percent from the same period last year. Of this total, exports totaled 11.0483 trillion yuan, up 0.8 percent, with a positive growth rate for the first time this year, while imports totaled 9.0005 trillion yuan, down 2.3 percent. The mode of trade continues to be adjusted. Exports of high-tech products and mechanical and electrical products increased by 5.5% and 2.1% respectively. General trade imports and exports accounted for 60.3% of the total import and export volume, an increase of 0.7 percentage points over the same period last year. Imports and exports of private enterprises accounted for 45.9 percent of the total import and export volume, an increase of 3.9 percentage points over the same period last year.

VI. The unemployment rate in urban survey has dropped slightly, and the employment situation is stable as a whole.

From January to August, 7.81 million new jobs were created in cities and towns across the country, an increase of 2.03 million less than that of the same period last year. In August, the unemployment rate in the national urban survey was 5.6 percent, down 0.1 percentage points from the previous month. Among them, the unemployment rate in the survey of people aged between 25 and 59 was 4.8 percent, down 0.2 percentage points from July. The unemployment rate surveyed in 31 major cities and towns was 5.7%, down 0.1 percentage points from July. In August, the average weekly working hours of employees in enterprises across the country was 46.8 hours, the same as in July.

VII. the increase in consumer prices has fallen somewhat, and the decline in ex-factory prices of industrial producers has continued to narrow.

In August, consumer prices across the country rose 2.4% from a year earlier, 0.3 percentage points lower than in July, and 0.4% higher than the previous month. From January to August, consumer prices across the country rose 3.5 percent from a year earlier, 0.2 percentage points lower than in January-July. According to categories, in August, the prices of food, tobacco and alcohol rose 8.8 percent year-on-year, clothing dropped 0.5 percent, housing dropped 0.7 percent, daily necessities and services dropped 0.1 percent, transportation and communications dropped 3.9 percent, education, culture and entertainment prices were flat, health care rose 1.5 percent, and other supplies and services rose 6.1 percent. Among the prices of food, tobacco and alcohol, pork rose by 52.6%, fresh vegetables by 11.7%, grain by 1.5% and fresh fruit by 19.8%. Core CPI, excluding food and energy prices, rose 0.5%, the same rate as in July.

In August, producer prices across the country fell 2.0% from a year earlier, 0.4 percentage points lower than in July, and up 0.3% from a month earlier. The purchase price of industrial producers fell 2.5 per cent from a year earlier, 0.8 percentage points lower than in July; it rose 0.6 per cent month-on-month. From January to August, the ex-factory prices and purchase prices of industrial producers across the country fell by 2.0% and 2.7% respectively compared with the same period last year.

VIII. Financial operation is stable and market confidence is enhanced.

At the end of August, the stock of social financing was 277 trillion yuan, an increase of 13.3 percent over the same period last year, of which the balance of RMB loans to the real economy was 166 trillion yuan, an increase of 13.3 percent. The balance of broad money (M2) was 214 trillion yuan, up 10.4 percent over the same period last year; the balance of narrow money (M1) was 60 trillion yuan, up 8.0 percent, 1.1 percentage points higher than that at the end of July; and the balance of money in circulation (M0) was 8 trillion yuan, up 9.4 percent. At the end of August, the balance of RMB loans was 167 trillion yuan, an increase of 13.0% over the same period last year and the same growth rate as at the end of July In August, RMB loans increased by 1.28 trillion yuan, an increase of 69.4 billion yuan over the same period last year.

In August, the composite PMI output index was 54.5%, up 0.4 percentage points from July. Among them, the manufacturing purchasing managers index is 51.0%, and the non-manufacturing business activity index is 55.2%, all of which are above the critical point for six consecutive months.

Generally speaking, the national economy continued to recover steadily in August, and the implementation of the tasks of "six stability" and "six guarantees" has been increasingly effective. However, there are many variables in the international environment, domestic structural contradictions are prominent, the pressure of stable employment and stable enterprises to protect people's livelihood is still great, and the foundation for economic stability and recovery needs to be strengthened. In the next stage, we should adhere to the guidance of Xi Jinping's thought of socialism with Chinese characteristics in the new era, adhere to the general tone of the work of seeking progress in the midst of stability, and adhere to the supply-side structural reform as the main line. in accordance with the requirements of promoting high-quality economic development and building a new pattern of "double cycle", we should do a good job in epidemic prevention and control and economic and social development, deepen reform and stimulate new vitality, stimulate new momentum with scientific and technological innovation, and expand opening up to create new advantages. We should pay close attention to the effective implementation of the policy and strive to achieve the goals and tasks for the whole year.

Notes

(1) the growth rate of industrial added value and its classified items above scale shall be calculated at comparable prices, which shall be the actual growth rate; unless otherwise specified, all other indicators shall be calculated at current prices and shall be nominal growth rates.

(2) the statistical scope of industries above scale is industrial enterprises with annual main business income of 20 million yuan or more.

As the scope of industrial enterprises above scale changes from year to year, in order to ensure that this year's data is comparable to that of last year, the number of the same period used to calculate the year-on-year growth rate of product output and other indicators is consistent with the statistical scope of enterprises in this period as far as possible, there is a caliber difference with the data released last year. The main reasons are as follows: first, the scope of statistical units has changed. Every year, some enterprises reach the scale to be included in the scope of the survey, and some enterprises withdraw from the scope of the investigation because of the smaller scale, as well as the influence of new production enterprises, bankruptcy, injection (hanging) sales enterprises and so on. Second, the product output data of some enterprise groups (companies) have the phenomenon of cross-regional repeated statistics, and the cross-regional repeated output of enterprise groups (companies) is weighed according to the special survey.

(3) the service industry production index refers to the change of the output of the service industry in the reporting period relative to the base period after excluding the price factor.

(4) the statistical scope of total retail sales of consumer goods refers to corporate enterprises, industrial activity units and self-employed enterprises engaged in retail activities or providing catering services. Among them, the units above the quota refer to wholesale enterprises (units) with annual main business income of 20 million yuan or more, retail enterprises (units) of 5 million yuan or more, and accommodation and catering enterprises (units) of 2 million yuan or more.

As the scope of enterprises (units) in the wholesale and retail, accommodation and catering industries above the quota changes from year to year, in order to ensure that this year's data is comparable to that of the previous year, the year-on-year growth rate of various indicators such as the retail sales of consumer goods above the quota is consistent with the statistical range of enterprises (units) in the current period, and there is a caliber difference with the data released last year. The main reason is that every year, some enterprises (units) meet the quota standard and are included in the scope of the survey, and at the same time, some enterprises (units) withdraw from the scope of the investigation because the scale is smaller than the quota standard. there is also the impact of newly opened enterprises, bankruptcy, note (hanging) sales enterprises (units).

Online retail sales refers to the sum of retail sales of goods and services realized through public online trading platforms (including self-built websites and third-party platforms). Goods and services include physical goods and non-physical goods (such as virtual goods, service goods, etc.).

The total amount of retail sales of consumer goods includes online retail sales of physical goods, excluding online retail sales of non-physical goods.

The total retail sales of consumer goods in 2019 has been revised according to the results of the fourth national economic census, and the monthly growth rate in 2020 is calculated according to a comparable caliber.

(5) in accordance with the provisions of the fourth national economic census, statistical law enforcement inspection and statistical investigation, the data of investment in fixed assets in the same period last year shall be revised, and the growth rate shall be calculated according to a comparable caliber.

(6) Import and export data come from the General Administration of Customs; data on new urban employment come from the Ministry of Human Resources and Social Security; and monetary and credit data come from the people's Bank of China.

(7) employed persons refer to persons aged 16 or above who have the ability to work and engage in certain social labor in order to obtain remuneration or operating income.

(8) due to rounding, there is a difference between the total and the sub-total of some of the data.

Schedule

Data of main indicators from January to August 2020

Indicator

August

January to August

Absolute quantity

Year-on-year growth (%)

Absolute quantity

Year-on-year growth (%)

I. added value of industries above scale

.

5.6

.

0.4

(1) Classification of economic types

 

 

 

 

Among them: state-owned holding enterprises

.

5.2

.

0.1

Among them: joint-stock enterprises

.

5.8

.

0.8

Foreign investors and Hong Kong, Macao and Taiwan investment enterprises

.

5.3

.

-0.7

Among them: private enterprises

.

5.7

.

1.3

(2) divided into three major categories

 

 

 

 

Mining industry

.

1.6

.

-1.0

Manufacturing industry

.

6.0

.

0.9

Electricity, heat, gas and water production and supply

.

5.8

.

0.3

(3) added value of major industries

 

 

 

 

Textile industry

.

3.3

.

-2.8

Chemical raw materials and chemical products manufacturing industry

.

6.9

.

0.7

Non-metallic mineral products industry

.

5.0

.

-0.4

Ferrous metal smelting and Calendering industry

.

9.2

.

4.8

General equipment manufacturing industry

.

10.9

.

1.2

Automobile manufacturing industry

.

14.8

.

2.8

Manufacturing of railways, ships, aerospace and other transport equipment

.

-0.3

.

-2.9

Electrical machinery and equipment manufacturing industry

.

15.1

.

4.1

Manufacturing of computers, communications and other electronic equipment

.

8.7

.

7.0

Electricity, heat production and supply industry

.

5.9

.

0.5

(4) output of major products

 

 

 

 

Generating capacity (billion kilowatt-hours)

7238

6.8

47728

0.3

Pig iron (ten thousand tons)

7855

5.0

58940

3.4

Raw coal (10,000 tons)

32581

-0.1

245042

-0.1

Crude steel (ten thousand tons)

9485

8.4

68889

3.7

Steel (ten thousand tons)

11913

11.3

84469

4.8

Cement (ten thousand tons)

22489

6.6

144229

-2.1

Crude oil processing capacity (10,000 tons)

5947

9.2

43803

3.2

Ten non-ferrous metals (ten thousand tons)

five hundred and twenty nine

6.9

3989

3.3

Coke (ten thousand tons)

4128

2.9

31030

-1.4

Sulfuric acid (100% discount) (10,000 tons)

seven hundred and twenty two

2.4

5385

-3.1

Caustic soda (100% discount) (10,000 tons)

three hundred and nineteen

15.8

2321

1.3

Ethylene (ten thousand tons)

one hundred and seventy nine

8.6

1359

0.1

Chemical fiber (ten thousand tons)

five hundred and twenty five

2.4

3827

-2.4

Flat glass (ten thousand weight box)

8138

3.1

62309

1.0

Microcomputer equipment (10,000 sets)

3426

12.0

22081

5.1

Integrated circuit (100 million)

two hundred and twenty two

12.1

1588

14.6

Cars (ten thousand)

208.8

7.6

1403.6

-9.0

Among them: cars (ten thousand)

79.3

-2.6

528.7

-17.0

(5) sales rate of products (%)

98.2

-0.4

(percentage points)

97.5

-0.5

(percentage points)

(6) the value of export delivery (100 million yuan)

10452

1.2

75211

-3.2

II. Service industry production index

.

4.0

.

-3.6

III. Investment in fixed assets (excluding farmers)

(100 million yuan)

.

.

378834

-0.3

Among them: private investment

.

.

214506

-2.8

Sub-industry

 

 

 

 

primary industry

.

.

11063

11.5

the secondary industry

.

.

112122

-4.8

the service sector; the tertiary industry

.

.

255649

1.4

IV. Real estate development

 

 

 

 

(1) Investment in real estate development (100 million yuan)

.

.

88454

4.6

Among them: residential

.

.

65454

5.3

Office building

.

.

3821

-1.0

Commercial housing

.

.

8209

-2.9

(2) the construction area of the house (10,000 square meters)

.

.

839734

3.3

Among them: residential

.

.

592216

4.3

Office building

.

.

34499

-1.1

Commercial housing

.

.

86534

-8.4

(3) New construction area of housing (10,000 square meters)

.

.

139917

-3.6

Among them: residential

.

.

102486

-4.3

Office building

.

.

4220

-5.8

Commercial housing

.

.

11392

-6.4

(4) the completed area of the house (10,000 square meters)

.

.

37107

-10.8

Among them: residential

.

.

26498

-9.7

Office building

.

.

1282

-16.9

Commercial housing

.

.

3847

-22.9

(5) the sales area of commercial housing (10,000 square meters)

.

.

98486

-3.3

Among them: residential

.

.

87200

-2.5

Office building

.

.

1832

-19.5

Commercial housing

.

.

4956

-17.0

(6) sales of commercial housing (100 million yuan)

.

.

96943

1.6

Among them: residential

.

.

86769

4.1

Office building

.

.

2646

-18.0

Commercial housing

.

.

5333

-19.9

(7) funds provided by real estate development enterprises

(100 million yuan)

.

.

117092

3.0

Among them: domestic loans

.

.

18016

4.0

Utilization of foreign capital

.

.

one hundred and one

24.5

Self-financing

.

.

37320

3.6

Deposit and advance payment

.

.

38837

1.2

Personal mortgage loan

.

.

18957

8.6

Land purchase area (10,000 square meters)

.

.

11947

-2.4

The area of commercial housing for sale (10,000 square meters)

.

.

50052

0.5

V. Total retail sales of consumer goods (100 million yuan)

33571

0.5

238029

-8.6

Among them: retail sales of consumer goods per unit above quota

12136

4.4

85317

-7.0

(1) by camp

 

 

 

 

Town

29273

0.5

206643

-8.7

Rural area

4298

0.7

31386

-8.3

(2) by type of consumption

 

 

 

 

Catering income

3619

-7.0

21510

-26.6

Among them: catering income of units above quota

seven hundred and ninety six

-3.5

4628

-23.8

Commodity retail

29951

1.5

216519

-6.3

Among them: retail for units above quota

11340

5.1

80689

-5.8

Cereals, oils and foodstuffs

1181

4.2

9734

11.0

Beverage category

one hundred and ninety nine

12.9

1410

10.9

Tobacco and alcohol

three hundred and six

3.1

2304

-1.3

Clothing, shoes, hats, knitted fabrics

nine hundred and sixty seven

4.2

6936

-15.0

Cosmetic category

two hundred and eighty four

19.0

1996

3.2

Gold, silver and jewelry

two hundred and thirty five

15.3

1389

-15.6

Daily use category

five hundred and seventy four

11.4

3982

6.3

Household appliances and audio-visual equipment

seven hundred and sixteen

4.3

5131

-9.0

Categories of traditional Chinese and western medicine

four hundred and twenty eight

6.2

3359

5.8

Cultural and office supplies

two hundred and ninety one

9.4

2062

2.5

Furniture category

one hundred and thirty nine

-4.2

nine hundred and twenty nine

-11.4

Communication equipment

four hundred and eighty two

25.1

3296

8.9

Petroleum and products

1481

-14.5

10702

-17.3

Automobile class

3413

11.8

22890

-8.8

Construction and decoration materials

one hundred and fifty two

-2.9

1005

-8.7

VI. Import and export (100 million yuan)

 

 

 

 

total imports and exports

28839

6.0

200488

-0.6

Export volume

16502

11.6

110483

0.8

Import volume

12336

-0.5

90005

-2.3

VII. Consumer prices

.

2.4

.

3.5

Food, tobacco and alcohol

.

8.8

.

11.5

Clothing

.

-0.5

.

-0.2

Dwelling

.

-0.7

.

-0.3

Daily necessities and services

.

-0.1

.

0.1

Traffic and communication

.

-3.9

.

-3.4

Education, culture and entertainment

.

0.0

.

1.5

Medical care

.

1.5

.

2.0

Other supplies and services

.

6.1

.

5.1

Ex-factory prices of industrial producers

.

-2.0

.

-2.0

Means of production

.

-3.0

.

-3.0

Mining

.

-5.8

.

-6.1

Raw materials

.

-6.4

.

-6.1

Processing

.

-1.4

.

-1.6

Means of livelihood

.

0.6

.

0.9

Food

.

3.1

.

3.9

Clothing

.

-1.3

.

-0.7

General daily necessities

.

-0.4

.

-0.2

durable consumer goods

.

-1.5

.

-1.8

IX. Purchase prices of industrial producers

.

-2.5

.

-2.7

Note:

1. The growth rate of industrial added value and its classified items above scale shall be calculated at comparable prices; unless otherwise specified, the growth rates of other indicators shall be calculated at current prices.

two。 The import and export data come from the General Administration of Customs.

3. Some of the data in this table are different from the total due to rounding.

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