sernoi202s, 12:53 National Economy Sustained the Momentum of Recovery and Improvement with Solé Progress in High-qually Development (Oct-18, 2028 Wednesday Ccrinese(@a) RSS. ata Communiqués LegalFramowerk Clasifeations & Methods Last Roloasos___Ifeational Cooperation Understaning National Economy Sustained the Momentum of Recovery and Improvement wi Progress in High-quality Development in the First Three Quarters 1000 Print | Lage | Moai National Bureau of Stasis of China 18 October, 2023, Inthe rst three quarters, faced with grave and complex international environment ang challenging tasks in promoting reform, dev stability a home, under the strong leadership of the Central Commitee of the Communist Pary of Crna (CPC) wth Comrade Xin All regions and ceparments stielly implemented the decisions and arrangemera mage by the CPC Central Commitee and the ‘chered to the general principle of pursuing progress while ensuring slabilly, and fully and fathfuly applied the new development ph fronts. All rgions and departments accoleraod efforts lo foster a now development pallom, Look sold slops lo promote high-qualiy implemented maerovconame paley regulation in a precise and robust way, and made ellos fo expand domestic demand, boost cc fend of risks. As a result, te national economy sustained the momentum of recovery and improvement with postive factors amassing, and supply increased steadily, market demands continued to expand, employment and prices generally improved, and qualty 0! ‘enhanced steady According tothe proiminary estimates, the gross domestic product (GDP) in the first three quarters reached 91,3027 billon yu year increase of 5.2 percent al constant prea. By industry, the value added ofthe primary industry was 5,637.4 bon yuan, up By 4 {near that of the secondary dustry was 35,385.9 bilan yuan, up by 44 percent: and that ofthe terry industry was 80 299.3 bili 8.0'percent. By quarer, the GDP for te frst quarter mereased by 4.5 percent year on year, for the second quarter 6.3 percent, an quarter 48 peréent. The quarter-on-quatto: GDP forthe third quarter increased by 1.3 percent 4. Agricultural Production Was Generally Good and Production of Animal Husbandry Grow Steady. In the fist three quarters, the value added of agriculture (crop farming) went up by 2.6 percent year on year. The total output of {otaled 148.13 milion tons, 0.9 percent lower than that of last yea. ranking tne second highest in history. that fr early rice was 28.24 r ay 0.8 percent. The autumn grain generaly grew well with the sown area being stable with an inetease, and another bumper harvest | the year. In the frst three quarters, the output of pork. beef, mutton and poultry was 68.74 millon tons, up by 3.9 percent year on yec the output of pork, best, mutton and poully wes up by 3.6 percent, 6.0 percent, 6.2 percent and 4.0 percent respectively; that of milk percent and eggs up by 2-1 percent At the en of the third quarter, the number of pigs registred in stock was 422.29 millon, down Yaron year. For the frst three quarters, 597-23 milion pigs Were slaughtered, up by 3.3 percent. 2. Industrial Production Saw Accelerated Recovery and Equipment Manufacturing Grew Fast, In the frst three quarters, the total value acided of industrial enterprises above the designated size grow by 4.0 percent yas percentage points higher than ‘nal cf the frst half year. In terms of sectors, the value added of mining increased by {7 percent manvfaciuring went up by 4.4 percent and the production ard supply of elecrciy, thermal power, gas and water grew by 3.5 perc: {ded of equipment manufacturing went up by 6.0 percent, 20 parcantage points faster than that of the whole industial enter ‘designated size. An analysis By ypes of ovmership showed that the value added of state holding enterprises was up by 4.8 percent yor fof share-holding enterprises was up by 4.8 percent, that of enterprises funded by forelgn investors or investors from Hong Kong, Mac: ‘was up by 0'5 percent: and that of prvate enterprises was up by 2.3 percent. In term of products, the output of solar cali, charging | ‘energy vehicles went up by 83.2 percent. 34,2 porcent and 26.7 percent respectively. In September, the foal value added oF Indust labove the designated size nereased by 45 percent year on year, the same as that of last month, 0.8 percentage pons fester than th month-or-month growth of 0.36 percent. nthe fist eght months, the lola profis made by industrial enerprises above the designe down by 11.7 percent year on year a decline narrowed by 6.1 percentage points compared wit that inthe fst half year. Specialy, ‘wont up by 17.2 percent year on year. In September, tha Manufacturing Purchasing Managers’ Index stood at 50.2 percent, 05 pert higher than that of last month and the Production and Operation Expectation Index was 88.5 percent 43. Service Sector Maintained Fast Recovery and Contact-and-Gathering-ased Services and Modern Service Industries Play: Driving Role In the frst three quarters, the value added of services wont up by 6.0 percent year on year. Specifically, the value added of a and catering, nfermalion transmission, sofware and information lechnology Servces, easing and business sevices, anspor. store Services and financial intermediation grew by 14.4 percent, 12.1 percent, &. percent, 7.5 percent and 7.0 percent respectvely. In $ Index of Services Production increased by 6.9 percent year on year, 0.1 percentage points higher than that of last month, and the of pieking up fortwo months In @ rove Specially, the Index of Services Production of abcommodation and catering. ivormation transmis {and Information technology services and transpor. storage and postal services went up by 17.7 percent, 11-3 percent and 9.3 percent the fist sight months, the eusiness reverue of service enterprises above the designated size grew by 72 percent year on year. In S Business Acivly Index for Services stood at 50.9 percent, 0.4 percantage points higher than last manth; ard tye Business Actwily Exe ‘wae 58.1 percent. Specialy, the Business Actily Index for water tansparialion, postal services, telecommuricalion, broadeas, Satelite transmission services, Intemet, sofware and information technology services and monelary and financial services slayed'\ ‘expansion range of $6.0 percent and above, 4. Market Sales Was Getting Active and Consumption of Services Grew Fast. ww stats.govervenglish/PressRelease/202310/20231018_1943660.him! v9sernoi202s, 12:53 National Economy Sustained the Momentum of Recovery and Improvement with Solé Progress in High-qually Development. Inthe fist three quarters, the total retail sales of consumer goods reached 34,2107 billion yuan, up by 68 percent year on yea differen areas, the retal sales of consumer goods in urban areas reacheo 29,641.0 bition yuan, up by 6.7 percent year on year, ot ‘areas roached 4,559.7 billon yuan, up by 7-4 percent. Groupae by consumption pattorns, he real slos of goods wore 30,5002 bic 55 poreant the income of calaring was 3,710.5 bilan yuan, up by 18.7 percent. The sales of gaods for basic Iving saw steady growth Sales of clothes, shoes, hats and lextles and of grain oll and food by business above the desighated size up by 70.8 percent ar respectively The sales of ungraded goods wont up rapidly. The retall sales of gold, siver and jewelry, sports and recreatonal artic, by businoss above the designated sizo woro up by 12.2 percont, 8.3 percont and 6.8 poreent respoctively. Tho online retal sales roa bition yuan, up by 118 percont year on year. Specicaly the online rotal sales of physical goods were 9,043.5 ailion yuan, up B ‘accourting for 264 percent ofthe total etal sales of constmer goods. In September, the ‘ola etal sales of consumer goods wert up Year on year, 0.9 percentage points higher than that of last month, and the growth rate kept increasing for {wo months In @ row, oF up month on month. Inthe fest tree quarters, the roll sales of services went up by 18.9 percent year an year 5. Investment in Fixed Assets Continued to Scale up and Investment in High-tech Industries Sustained Fast Growth In the fist three quarter, the investment in fxod assets (excluding rural households) reachad 37,503 5 blion yuan, up by 3.1 p year, oF 8.0 percent year on year after deducting pice factors. Specifically the Investment in ivrastructure was up by 6.2 pereent year Manufacturing up by 6.2 percent, ad that rea estate development dann by 8.1 percent, The floor space of commercial bulings sc millon square moter, dawn by 7.9 poreent year on year the total sales of commercial buildings wore 8,907.0 allon yuan, down by 4 industy, te investment in the primary industry went down by #.0 percent year on year, that in the secondary industry up by 9.0 perce the terlary industry up by 0.7 percert, The private investment was down by 0.6 percent, or up by 8.7 percent year on year after investment in realestate development, The investment in high-ech industries grew by 11.4 percent year on year. Spectically, the Inver och manufacturing and high-tech services grew by 11-3 percent and ‘1.8 porcent respectively In terms of hi-tech manufacturing, the manufacturing of aerospace Vericie and equipment and in manufacturing of medical equipment, measuring instruments and melers Deteert and 17-0 percent regpectively. In ‘arms of highviach services, ne Investment in services for vancformalion of scientific anc Schievements and in professional technical serviees went Up by 38.8 percent and 29.6 percent respectively. In September, he Inver assets (exclucing rural nousenolés) went up by 0.15 percent month on month 6. Imports and Exports of Goods Was Generally Stable and Trade Structure Continued to Optimize. In the fst three quarters, the total value of imports and exports of goods was 30,802.1 tilion yuan, down by 0.2 percent Spectealy ho tea wave of enor was 17.6025 bilon yuan up oy 08 poren the foal value of port wot 18,198, ilon yar poreert. The trade balance was 4,402.8 bilon yuan in suiplus: The Imports an exports by private enierprises grew by 8.7 peresnt, 53.1 percent of the ‘otal value of imports and exports. The imports and exports witn the Belt and Road partner counties grew b ‘accounting Tor 46.5 percent of the total value of imports and exparls. The expors of mechanical and elecical progucis grew 5 ‘Sccountng fr 58.3 percent ofthe folal value of exports, 1.5 percentage points higher than thal of the same pero las year. In Seple Value of imports and exports was 3,782 5 bilan yuan, a gecine of 07 percent year on year, withthe month-on-manth growth nce ‘Months on end. Among tal, the tolal value of exports was 2,190.8 bilon juan, down by 0.8 percent year on year tre total valve 113819 Bilin yuan, down by 0.8 percent 7. Consumer Price Increased idly and Decline of Producer Prices for Industrial Products Continued to Narrow. In the ist three quarters, the consumer price index (CPI) grew by 0.4 percent year on year. Grouped by commodity categories, 5 tobacco ané alcohol went up by 1-1 percent, clothing up by 0.8 percent, housing down by O-t percent. artcles and services for daly percent; iraneporlaion and eomtmunfalion down by’ 2.6 percent education, eulure and fecreation up by 7.9 percent: medical serie sre up by 1.1 pereent; and oinerarieles and services Up 8) 3.2 percent. In terms af food, tobacco and alcohol pices, prices for park 6.8 percent, resn vegetables down by 3.1 percert, grain wert up by 1.2 percent, and fresh futs up by 8.0 percent. The core CPI excl ‘of food and energy grow by 0.7 percent year on yea! In September, ine CAF mamtained tne same level yar an year, oF up by 0.2 per month In the frst three quarters, the producer prices for industrial products went down by 3.1 percent year on year. Specialy, September wont dan by 2. prea yaar on yar, wt tha dane narowos by 0. poearage pds compared wih tat othe Prov {Wp by 0.4 percent month on month. Inthe fst three quarters, the purchasing pices for industrial producers went down by 3.6 pefcan’ Specially the prices in September went down by 3.6 percent year on Year win the decline narrowed by 1.0 percentage paint Compa! the previous month, or up by 0.6 percent month on month. 8. Employment Was Generally Stable and Urban Surveyed Unemployment Rate Declined. In the first three quarters, the urban surveyed unemployment rate averaged 5.3 percent. In September, the urban surveyed unen ‘was 5.0 percent 0.2 percentage paints lower than the previous month, fling for two montis i a vow. The surveyed unemployment rat lth local Rousehoid registration was 5.1 percent. hat of population win nom-iocal householé registration was 4.9 percent. amang Wh the population wih non-local agruTural household registration was 47 percent, The urban surveyes Unemployment rate in 31 major percent, 0.1 porcantage points lower than the previous mont. The employees of enterprises worked 48.8 hours ber Wook on average, {he third quater the number of rural migrant workere totaled 187.74 milion, up by 2.8 percent year on year. 9. Residents Income Increased Steadily and Income of Rural Residents Grew Faster than That of Urban Residents In the fist three quarters, the nationwide per capta disposable income of residents was 29,388 yuan, a nominal growth of 6.3 9 year; the real growth was 5.9 percent afler decuictng pre faciors, 0.1 percentage points faster than that ofthe frst hal yan terme resence, the per capita dpesable incame of uroan households was £428 yur, a nominal growth of 62 percent year on year anc Of 47 percent, the per capta sleposable income of rural households was 75,705 yuan, @ nominal grawh of 7.6 percent yaar an Ye own perce nes of income source, the nabonwie ge capt salary come, nat busines income, net prope income 8 fom transfers arow by 6.8 porconl, 67 percent, 3.7 poreent and .8 porcent in fominal lems rospoctvely. The median of tho naiona disposable Income of residents was 24,528 yuan withthe nominal growth of 5.4 percent year on year. Generaly speaking, i the fist three quarters, the national economy sustained the momentum of recovery and improvement with in high-quality development, whch has laid a strong foundation for achiaving tha annual development targets. However, we should be extemal envronment is becoming more complex and grave while the domestic demand remains insufficient and the foundation recovery and growth needs to be further consolidated. At the next stage, we must follow the guidance of XI Jinping Thought on Chinese Characteristics for a New Era, adhere to the general princisle of pursuing progress while ensuring stability, and fully ‘comprehensively implement the new development philosophy. We need fo focus on the top pronty of high-qualty development and the fof fostering a new development pattern by expanding effective domestic demand, stimulating the vitalty of market players. ana Imp delivering the introduced polcies more effecvely to continuously enhance the ecanomic performance, boost the endogenous drving the puble expectations, and defuse rises and hidéen dangers, so as to achieve the annual targets of economic and socal development Notes: 1. The growth rate of GOP and its sub-tems are calculated at constant prices. The growth rates of value added of industrial ente designated size and fig sub-tems are caleated st comparable prices. Goth are real growth ates. The growin rales of ote indicato ‘growin by using current prices unless otherwise specified, 2. According tothe auto-evision function of the Seasonal adjustment model, revisions are made to quartor-or-quarter growth of GOP ‘on-month changes of the value added of industnal enterprises above designated siz, investment in ined assets (excluding rural hot {otal retal sales of consumer goods. The revised figures, quartet-on-quarter GOP growth for the {rd quarter of 2028 and month-on-n of other indicators for September 2028 are as flows ww stats.govervenglish/PressRelease/202310/20231018_1843660.him! 20sernoi202s, 12:53 National Economy Sustained the Mementum of Recovery and Improvement with Solé Progress in High-qually Development The quarer-on-quarter growth of GOP since 2022 and the first three quarters in 2023 are 0.8 percent, -2.3 percent, 2.7 percer 2.3 percent 0.5 percenl and 1-3 percent respectively Month-on-Month Growth Rate of Other Indicators Vals RARER oF TdT Trvestnent i Fixed Assets Tea RES Enterprises above Designated Size | (Excluding Rural Households) ‘consumer ¢ res ea Ci ‘Sepiember, 2022 0.0 038 0: October one 191 04 November 024 0.84 0, December oe 118 0% January, 2023 054 010 February 036 0.08 March 058 on pail 023 0.36 May ae 023 tune 088 0.05 sly 0.04 “0.14 August 050 020 September 038 0.15 3. Industial enterprises above designated size are industrial enterprises with annual revenue from principal business over 20 millon yu As Indusval enterprises above the designated size change every year, to ensure the data comparably between years, the ct data of the samo period last year used for estimating year-on-year growth rates tke tat of products output are as consistent as po {urrent period and eiferent from the coverage of Ine data publshed last year. The mam reasons are as follows: Fis, he slatisical Every year, some enterprises are inluded in the survey as they mest the threshold, while some enterprises are removed from the surv downslang, Besides, enterprises that nave newly gone Into operation, boen bankrupted, carcolod thelr registrations or had thelr bus rovoked alto cause impact Second, duplicated oulputs across regions of enterprise groups have been removed based on the ad hoe ‘duplication is found in the produce output of some enterprise groups. 4, The Index of Services Production isthe change of production inthe reporting period compared tothe base period with the price facto 5. The scope of the total real sales of consumer goods include all legal entities, establishments and self-employed indvisuals inv trades or providing caterng services. Specifealy, businesses above the designated size include wholesale enterprises (Ousinesses, divas), etal enterprises (ousinesses, sef-employed Individuals) and lodging and catering enterprises (businesses, self-employ. vith annual revenue from principal business over 20 milion yuan, milion yuan and 2 milion yuan respectively. [As the wholesale, rtal, and lodging and catering enterprises (businesses, selt-employed incviduals) above the designated size your, 19 ensue the dala comparably between years, the covrage ofthe data fhe same pero lst yar used for esimating year ‘ates lke that ofthe rela sales of consumer goods by businesses above the desgnaied size ws consistent wih the current period ane the coverage of data publisned fast year. The main reasons are: come enterpriees (businesses, sellmployed Individuals) are Incudet 2 they meet the threshold, while some enterprises (businesses, sel-employed dividuals) are ramaved from the survey because very year Besides, enterpises (businesses, self-employed naivduals) that have newly gone info operation, been bankeupied, registrations or had thelr business leenses revoked also cause impact, Online retail sales rofer tothe retail sales of goods and services realized through intemet trading platforms (including set-buit third-party platforms). Goods and services include physical goods and non-pryscal goods (eg. vitual goods and Services), The total ela sales of consumer goods include the online rela sales of physical goods, but nol the non-physical goods, 6. The retal sales of services refer tothe total value of services directly provided by enterprises (establishments, settemployed units {and obver units for non-production and non-operaiing purposes inthe form of transactions it aims to reflect the value of services wi Consumption sold by eotvice providers in monetary Terms, including the retal sales of services in transportation, accommodation, cater eal spats, enterlainmort and other elds 7. The growth rats of investment in xed assets are calculated on a comparable basis. 8, Emolayed people refer to people aged 16 and above whe have the ability to work and engage in gainful employment for remunerat 9, The median of the nationwide per capita disposable income of residents refers tothe por capita dlsposable income of households w middle ofall surveyed households ranked from low to high on the basis of per capita disposable income level 10. Data of imports and exports are from the General Administration of Customs. 11. Due tothe rouneling-off reasons, the subentres may not add up to the aggregate totals Ines tan erase oun Engle neon ang ie one eRe Chines ton sna pea www stats.govervenglish/PressReloase/202310/20231018_1843660.him! 30