China’s Economy in the Year of 2012

Jul 02, 2013  |  by
According to the preliminary accounting, the gross domestic product (GDP) of China reached 51,932.2 billion yuan in 2012, a year-on-year increase of 7.8 percent at comparable prices. Specifically, the year-on-year growth of the first quarter was 8.1 percent, 7.6 percent for the second quarter, 7.4 percent for the third quarter and 7.9 percent for the fourth quarter.
 
The value added of the primary industry arrived at 5,237.7 billion yuan, up by 4.5 percent; the secondary industry 23,531.9 billion yuan, increasing by 8.1 percent; and the tertiary industry 23,162.6 billion yuan, ascending by 8.1 percent. The gross domestic product of the fourth quarter of 2012 went up by 2 percent on a quarterly basis.
 
Industrial Production
The total value added of the above-designated sized industrial enterprises in 2012 increased by 10 percent at comparable prices, or 3.9 percentage points lower than that in the previous year.
 
In terms of different quarters, the year-on-year growth of the first quarter was 11.6 percent, 9.5 percent for the second quarter, 9.1 percent for the third quarter and 10.0 percent for the fourth quarter.
 
In terms of types of ownership, the value added growth of the state-owned and state holding enterprises went up by 6.4 percent; collective enterprises by 7.1 percent; share-holding enterprises by 11.8 percent; and enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan province by 6.3 percent.
 
In terms of regions, the growth rates in eastern, central and western parts of China were up by 8.8 percent, 11.3 percent and 12.6 percent respectively.
 
In 2012, the sales ratio of above-designated sized industrial enterprises was 98.0 percent, down by 0.5 percentage point against 2011. The export delivery value reached 10,675.9 billion yuan, up by 7.1 percent.
 
In the first eleven months of 2012, the above-designated sized industrial enterprises realized a total profit of 4,662.5 billion yuan, increasing by 3 percent year-on-year, whereas it was down by 1.8 percent in the first nine months and up by 24.4 percent in the same period of previous year.
 
Moreover, in the first eleven months of 2012, the costs for per-hundred-yuan turnover of main business income of the above-designated sized industrial enterprises reached 85.14 yuan, a decrease of 0.28 yuan over that of the first three quarters, or 0.16 yuan more than that in the previous year. The profit rate of above-designated sized industrial enterprises from their main business income was 5.66 percent.
 
Investment in Fixed Assets
In 2012, the investment in fixed assets (excluding rural households) was 36,483.5 billion yuan, a growth of 20.6 percent (a real growth of 19.3 percent after deducting price factors), which was 3.4 percentage points lower than that in the previous year.
 
Of them, the investment in the state-owned and state holding enterprises reached 12,369.4 billion yuan, a rise of 14.7 percent; private investment reached 22,398.2 billion yuan, up by 24.8 percent, accounting for 61.4 percent of the total investment.
 
In term of different areas, the growth in eastern, central and western regions was 17.8 percent, 25.8 percent and 24.2 percent respectively.
 
Furthermore, the investment in the primary industry arrived at 900.4 billion yuan, ascending by 32.2 percent; the secondary industry 15,867.2 billion yuan, up by 20.2 percent; and the tertiary industry 19,715.9 billion yuan, with an increase of 20.6 percent.
 
The funds in place for investment in 2012 totalized 39,944.0 billion yuan, ascending by 18.6 percent. Of them, the state budget went up by 29.7 percent, domestic loans increasing by 8.4 percent, self-raising funds up by 21.7 percent, foreign investment down by 10.9 percent and others rising by 13.7 percent.
 
Besides, the total investment in newly-started projects in 2012 arrived at 30,908.3 billion yuan, with an increase of 28.6 percent. The number of projects started in 2012 reached 356,296, or 28,948 more than that in the previous year. In December, 2012, investment in fixed assets (excluding rural households) grew by 1.53 percent month-on-month.
 
Imports and Exports
The total value of imports and exports in 2012 was 3,866.76 billion US dollars, an annual increase of 6.2 percent, or 16.3 percentage points lower than that in the previous year.
 
Of them, the total value of exports reached 2,048.93 billion dollars, up by 7.9 percent; and that of the imports arrived at 1,817.83 billion dollars, with a year-on-year increase of 4.3 percent. The trade balance was 231.1 billion dollars.
 
In terms of the total imports and exports, the general trade was 2,009.83 billion dollars, increasing by 4.4 percent; processing trade cumulated to 1,343.95 billion dollars, up by 3 percent.
 
Furthermore, as referring to exports, the general trade reached 988.01 billion dollars, up by 7.7 percent; and processing trade was 862.78 billion dollars, ascending by 3.3 percent. For imports, the general trade arrived at 1,021.82 billion dollars, went up by 1.4 percent; and processing trade 481.17 billion dollars, up by 2.4 percent.
 
In December, 2012, the imports and exports totalized a total value of 366.84 billion US dollars, increasing by 10.2 percent year-on-year. Of them, exports reached 199.23 billion US dollars, up by 14.1 percent; and that of imports was 167.61 billion US dollars, rising by 6 percent.
 
Sales in Domestic Markets
In 2012, the total retail sales of consumer goods reached 20,716.7 billion yuan, a nominal annual rise of 14.3 percent (a real growth of 12.1 percent after deducting price factors), or 2.8 percentage points lower than that in the previous year.
 
In December, 2012, the total retail sales of consumer goods rose by 15.2 percent year-on-year (a real growth of 13.5 percent after deducting price factors), or 1.53 percent growth month-on-month.
 
Consumer Price
In 2012, the consumer price went up by 2.6 percent year-on-year, which was 2.8 percentage points lower than that in the previous year. Of them, the price rose by 2.7 percent in urban areas and 2.5 percent in rural areas.
 
In December, the consumer prices increased by 2.5 percent year-on-year, or 0.8 percent month-on-month.
 
In the year of 2012, the producer prices for industrial products descended by 1.7 percent, while the price dropped by 1.9 percent in December year-on-year, or down by 0.1 percent month-on-month. Moreover, the purchasing price for industrial producers decreased by 1.8 percent year-on-year; and in December, the price was down by 2.4 percent year-on-year or down by 0.1 percent month-on-month.
 
Money Supply
By the end of December 2012, the balance of broad money (M2) was 97.42 trillion yuan, a year-on-year growth of 13.8 percent, which was 0.2 percentage point higher than that at the end of the previous year; the balance of narrow money (M1) was 30.87 trillion yuan, up by 6.5 percent, or 1.4 percentage points lower; and the balance of cash in circulation (M0) reached 5.47 trillion yuan, a rise of 7.7 percent, or 6.1 percentage points lower.
 
For more detailed information, please visit the web of National Bureau of Statistics of China.

2024.12   

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