National Economic Performance in May

In May, national economy continued to keep picking up tendency.

Industrial production increased faster. In May, total value-added of industry was 227.9 billion yuan, up by 10.2 % over the same month of last year, and slower 1.3 percentage points than the previous month. In terms of light and heavy industry, the value-added of heavy industry was 139.8 billion yuan, up by 11.3%, and that of light industry was 88.1 billion yuan, up by 8.7%.

Production and marketing situation continued to improve, the sales ratio of national products was 97.34%, up 0.03% over the same month of last year. In the first 5 months, the sales ratio was 96.73%, up 0.07% over the same period of last year.

Investment in fixed assets kept fast growth. In May, the investment of state-owned units and other type of units was 196.3 billion yuan, up 20.3% compared with the same month of last year, faster 3.8 percentage points than the first 4 months of this year. From January to May, the investment of state-owned and other type of units was 619.9 billion yuan, up by 17.6%. Of which, investment in capital construction was 325.6 billion yuan, up 11.9%, that in technical updating and transformation reached 119 billion yuan, up 26.7%, and that in real estate development was 153.5 billion yuan, up 26.5%.

Export and import continued to increase faster. In the first 5 months of this year, the total value of export and import was 197.68 billion US dollars, up 20.3% over the same period of last year. Of which, the value of export was 102.5 billion US dollars, up 11%, and the value of import was 95.18 billion US dollars, up 16.3%, resulting in a trade surplus of 7.32 billion US dollars. In May, the value of export was 20.82 US dollars, up 3.5%, and the value of import was 188.81 US dollars, up 10.9%, the trade surplus was 2.01 billion US dollars.

Financial performance developed steadily. By the end of May, broad money M2 was 13901.6 billion yuan, up 12.1% over the same period of last year. Narrow money M1 was 5342.3 billion yuan, up 14.9% over the same period of last year, money in circulation M0 was 1394.2 billion yuan, up by 6.6% over the same period of last year.

Savings deposits and loans increased steadily. The month-end value of loans stood at 10471.5 billion yuan, up 14.1% at comparable prices. And savings deposits totaled 13042 billion yuan, up 13.75 over the same period of last year. Of which, deposits of enterprises reached 4441.4 yuan, up 13.7%, and deposits of urban and rural was 6839.4 billion yuan, up 10% over the same peirod of last year.

China’s balance of payment was in good position and the foreign exchange reserves continued to increase. The exchange rate of RMB was stable. The exchange rate stood at 1 US dollar = 8.2770 RMB at the end of this month, an appreciation of 11 basic points.

Consumer price index slowed down to some extent. In May, consumer price index was down 0.5% over the previous month. Of which, Consumer price index in urban was 99.4%, consumer price index in rural was 99.7%. Analyzed by category of commodities, the price of service was 100.1%, but price of grain was 99.8%. On the other hand, the ex-factory price of manufactrued goods rose by 0.23%, and purchasing price for energy, raw materials and power was 101.1%.

The market of consumer goods became brisk. In May, the total retail sales of consumer goods was 292.96 billion yuan, up 11.1%. Of this total, the retail sales of consumer goods in urban areas reached 185.01 billion yuan, up 12.7%, and the retail sales of consumer goods in county and below county level was 107.95 billion yuan, up 8.5%. In terms of different industry, the sales of the wholesale and retail trades was up 11.8%, the sales of the catering was up 16.6%, while the sales of other industry was up 6.1%