China’s economy grows 10.6% in 1st quarter

http://www.chinaview.cn 2008-04-16 14:30:55 Print

BEIJING, April 16 (Xinhua) — China’s economic growth slowed to 10.6 percent in the first quarter from 11.7 percent in the same period last year, the National Bureau of Statistics (NBS) said on Wednesday.

China had maintained steady, rapid growth so far this year, despite the worst winter here in half a century and the spreading global credit crisis, NBS spokesman Li Xiaochao said.

The world’s fourth-largest economy grew 11.9 percent in 2007, fueled by record exports and massive spending on infrastructure. It was the fifth consecutive year that its annual economic growth exceeded 10 percent.

Song Guoqing, a professor at the China Economic Research Center at Peking University, said that the first-quarter figure was normal and “last year’s growth rate was too high to be sustainable.”

The deceleration was mainly due to the unusually severe winter weather and slowing exports, but investment growth was high and domestic consumption had remained strong since the second half of last year, he added.

The first-quarter trade surplus fell 10.6 percent year-on-year as demand from the United States and Europe weakened.

The growth rate of exports to the United States was 15 percentage points lower than the year-earlier period, while that of exports to Europe was down 10.3 percentage points.

Industrial production rose 16.4 percent in the first quarter from a year earlier, the statistical agency said. The increase was 1.9 percentage points lower than in the same period of 2007.

Investment in fixed assets, a category that covers everything from housing to new factory equipment, surged 24.6 percent, which was 0.9 percentage points higher than a year earlier.

Retail sales climbed 20.6 percent in the first quarter, with both urban and rural spending increasing rapidly. The growth rate was 5.7 percentage points higher than a year earlier, the NBS said.

Editor: Du Guodong

Uvjeri me da su tamo jeftinije dionice i sve trpam u Kinu.

China’s industrial output up 16.4% in 1st quarter

http://www.chinaview.cn 2008-04-16 14:35:46 Print

BEIJING, April 16 (Xinhua) — China’s industrial production rose 16.4 percent year-on-year in the first quarter of 2008, 1.9 percentage points less than in the same period of 2007, said the National Bureau of Statistics (NBS) on Wednesday.

The slowdown was coupled with a drop in corporate profits. In the first two months of this year, the most recent period for which statistics are available, profits of large industrial enterprises rose 16.5 percent to 348.2 billion yuan (49.7 billion U.S. dollars).

The rise was 27.3 percentage points less than the same period of last year.

The industrial output of state-owned and state-held enterprises rose 12.9 percent, that of collective enterprises rose 11.6 percent and that of private-sector share-holding enterprises rose 18.9 percent, NBS said.

The growth of enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan was 14.3 percent.

The year-on-year growth of heavy industry was 17.3 percent, while light industry expanded 14.7 percent.

By product, power and coal rose 14 percent and 14.6 percent respectively; crude steel and steel products were up 8.6 percent and 12.2 percent respectively and motor vehicles rose 15.8 percent, with cars alone rising 14.7 percent.

The sales ratio of industrial products was 97.7 percent, an increase of 0.5 percentage point over the previous year. This figure measures the part of production that is sold rather than going into inventory.

Among the 39 industrial divisions, 34 registered year-on-year growth in profits. The top five were petroleum and natural gas exploration; coal mining and washing; manufacturing of transportation equipment; farm and associated products processing; and manufacturing of general telecommunication equipment, computers and other electronic equipment.

Affected by price rises for crude oil and coal, the petroleum processing and coking and the nuclear fuel processing industries saw losses. Profits made by the power and heating production and supply industry also fell sharply.

Excluding these industries, enterprise profits rose 37.5 percent, or 6.1 percentage points more than in the same period last year.

Editor: Du Guodong

ma svjetska kriza je izmisljena, to je samo nova raspodjela bogatstva u svijetu.. sad ce ameri malo raditi za promjenu a kinezi i rusi trositi.. sva filozofija..