China’s growth rate slowed for a sixth successive quarter to its slackest pace in more than three years, highlighting the need for more policy vigilance from Beijing even as signs emerge that action taken so far is beginning to stabilize the economy.
Year-on-year growth of 7.6 percent in the second quarter was a whisker above the government’s official 7.5 percent full year target and dragged the first half average down to 7.8 percent – below the 8 percent level that in previous downturns has triggered a robust response from policymakers.
The GDP number, released in a flurry of Chinese data on Friday, was roughly in line with investor expectations…
China GDP Growth Rate
China’s GDP in the first quarter of 2012 was 10,799.5 billion yuan, a year-on-year increase of 8.1 percent. The value added of the primary industry was 692.2 billion yuan, up by 3.8 percent; that of the secondary industry was 5,145.1 billion yuan, up by 9.1 percent; and that of the tertiary industry was 4,962.2 billion yuan, up by 7.5 percent. In the first quarter of 2012, the gross domestic product went up by 1.8 percent on quarterly bases.
In the first quarter of 2012, the total value added (calculated at comparable price) of the industrial enterprises above designated size was up by 11.6 percent year-on-year. An analysis on different types of enterprises showed that the value added growth of the state-owned and state holding enterprises went up by 7.2 percent; collective enterprises 9.7 percent; share-holding enterprises 13.8 percent; and 6.4 percent growth for enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan provinces.
In the first quarter of 2012, the investment in fixed assets (excluding rural households) was 4,786.5 billion yuan, a year-on-year growth of 20.9 percent (a real growth of 18.2 percent after deducting price factors), or 2.9 percentage points lower than that in 2011.
In the first quarter of 2012, the total investment in real estate development was 1,092.7 billion yuan, a year-on-year growth of 23.5 percent (a real growth of 20.7 percent after deducting price factors), which was 4.4 percentage points lower than that in the year 2011, or 10.6 percentage points lower than that in the same period of last year.
In the first quarter of 2012, the total retail sales of consumer goods reached 4,931.9 billion yuan, an increase of 14.8 percent (a real growth of 10.9 percent after deducting price factors). Specifically, the retail sales of the enterprises (units) above designated size stood at 2,292.1 billion yuan, up by 15.6 percent.
The total value of imports and exports in the first quarter of 2012 was 859.37 billion US dollars, a year-on-year growth of 7.3 percent…