The main indicators have recovered stability, and positive factors have accumulated more -- focusing on the third quarter report of China's economy
2022-10-27
The National Bureau of Statistics recently released data showing that in the first three quarters of this year, gross domestic product (GDP) grew by 3% year-on-year, 0.5 percentage point faster than the first half of the year. Among them, GDP in the third quarter increased by 3.9% year-on-year, 3.5 percentage points faster than that in the second quarter. China's economy overcame the adverse effects of multiple shocks that exceeded expectations. The economic recovery in the third quarter was better than that in the second quarter. The main indicators recovered and stabilized, remained within a reasonable range, and positive factors accumulated. Industrial production rebounded significantly, and the service industry economy recovered gradually. In the first three quarters, the added value of industries above designated size nationwide increased by 3.9% year-on-year, 0.5 percentage points faster than that in the first half of the year. The year-on-year growth in the third quarter was 4.8%, 4.1 percentage points higher than that in the second quarter. The coordinated epidemic prevention and control and industrial economic development in various regions achieved remarkable results, and more than 70% of the regions recovered. In the third quarter, the growth rate of industrial added value above designated size in 23 provinces across the country rebounded or narrowed compared with that in the second quarter, with a growth rate of 74.2%. Among them, the Yangtze River Delta region, which was greatly affected by the epidemic in the early period, rebounded sharply, and the added value of industries above designated size increased by 8.2% from 3.2% in the second quarter. Jiang Yuan, deputy director of the Industrial Statistics Department of the National Bureau of Statistics, said that in the next stage, we should further promote the implementation of various economic stabilization policies and measures, and constantly consolidate the foundation for a better recovery of the industrial economy. The economic operation of the service industry has generally continued the trend of recovery growth, and the main economic indicators have improved. In the first three quarters, the added value of the service industry increased by 2.3% year-on-year, 0.5 percentage points faster than that in the first half of the year; The service industry production index grew 0.1% year on year, including a 1.2% year-on-year growth in the third quarter, 4.5 percentage points higher than that in the second quarter. The three major demands continued to rise, and the potential for recovery and development was enhanced - the consumer market showed resilience, and the market sales scale kept expanding. In the first three quarters, the total retail sales of consumer goods increased by 0.7% year-on-year, 0.2 percentage points faster than that from January to August. Quarterly, the third quarter saw a growth of 3.5%, the second quarter saw a decline of 4.6%, the first quarter saw a growth of 3.3%, and the third quarter saw a faster recovery than the second quarter. "In the next stage, with the continuous promotion of various policies and measures to coordinate epidemic prevention and control and economic and social development, a series of consumption promotion related policies to support market players and improve residents' willingness and ability to consume have been put into effect, and the consumer market will continue to recover steadily." Dong Lihua, Director of the Department of Foreign Trade and Economic Cooperation of the National Bureau of Statistics, said. Fixed asset investment increased steadily. In the first three quarters, the national fixed asset investment (excluding farmers) grew 5.9% year on year, 0.1 percentage points faster than that from January to August, and rebounded slightly for two consecutive months. The growth rate in the third quarter was 5.7%, 1.5 percentage points faster than that in the second quarter. From the perspective of investment leading indicators, in the first three quarters, the planned total investment of new projects increased by 20.8% year on year, and the paid in funds of investment projects (excluding real estate development investment) increased by 21.3%, which is conducive to the sustained and stable growth of investment. Zhai Shanqing, Director of the Fixed Assets Investment Statistics Department of the National Bureau of Statistics, said that in the next stage, we should firmly implement a series of measures, such as activating the balance limit of local special bonds, speeding up the construction of agricultural and rural infrastructure, and promoting the expansion of effective investment and investment
Edit：Yi Bing Responsible editor：Wei Li Bin
Source：XinhuaNet
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