Good Start of National Economic Performance

in the First Quarter

In 2001, regions and departments at all levels carefully implemented the policies set by the central government on economic work this year. In the first quarter of this year, national economic performance started well.

The main features of national economic performance are:

National economic growth accelerated to some extent.

According to preliminary estimation, in the first quarter of this year, the gross domestic product reached 1989.5 billion yuan, up 8.1% over the same period last year at comparable prices. It was 0.7 percentage points higher than that in the last quarter of the previous year. Of which, the gross domestic product of the secondary industry reached 1097.2billion yuan, up 9.0% over the same period last year at comparable prices.

Agricultural production developed steadily, and the structural adjustment for agricultural production was enhanced.

In the first quarter of this year, the total value-added of agricultural sector was 155.6 billion yuan, up by 3.0% over the same period of last year. Structural adjustment for agricultural production was enhanced.

Industrial production increased fast.

In the first quarter of this year, the total complete value-added of industrial production was 586.8 billion yuan, up 11.2% over the same period last year, the growth rate was 0.5 percentage points higher than that in the last quarter of the previous year. Of which, the growth of state-owned and state holding enterprises was 9.7%, that of share holding enterprises and the joint ventures was 11.6% and 14.3% respectively.

Production of heavy industry speeded up. In the first quarter, the growth of heavy industry was 13.4%; the growth rate was 4.8 percentage points higher than that of the light industry.

Sales of industrial products continued to be brisk, with sales ratio of 91.14%.

The investment in fixed assets kept fast growth.

In the first quarter, the completed investment in fixed assets of the country was 387.8 billion yuan, up 12.4% over the same period last year. In terms of different economic entities, the investment of state-owned units and other type of units was 256 billion yuan, up by 15.1%. That of collective units was up 14.1%. The investment of urban and rural residents was up 3%. Analyzed by purposes, investment in technical innovation was up 25.2%, that of real estate was up 22.9%.

Market sales were brisk and Market prices picked up slightly.

In the first quarter, the retail sales of consumer goods was 9256 billion yuan, up 10.3% over the same period last year. Of which, the retail sales in urban areas increased 11.5%, and that of rural areas was up 8.3%. The sales of the wholesale & retail trades, and catering sector increased 11% and 16.1% respectively.

Market prices picked up slightly. In the first quarter of this year, the consumer price was up 0.7% at compared with the same period last year. Of which, the consumer price in urban areas was up 0.6%, that in rural areas was up 0.8%.

Export and import picked up.

Total value of export and import in the first quarter of this year was 113.8 billion US dollars, up by 15.9% compared with the same period of last year. Of which that of export was 59.3 billion US dollars, up 14.7%; that of import was 54.5 billion US dollars, up 17.3%. China had a trade surplus of 4.8 billion US dollars. The foreign direct investment actually utilized were 7.98 billion US dollars, up by 11.7%.

Residents’ income continued to increase.

In the first quarter, the per capita disposable income of urban residents was 1846 yuan, up 5.4% over the same period last year; the real growth was 4.7% after deducting price factor. The per capita cash income of rural residents was 636 yuan, up 7.1%; the real growth was 4.8%.