Na­tional Econ­omy Reg­is­tered A Sta­ble Per­for­mance

China's Foreign Trade (English) - - Monthly Data -

In­dus­trial pro­duc­tion

In the first half of the year, the real growth rate of to­tal value added of the in­dus­trial en­ter­prises above the des­ig­nated size was 6.7% year on year, 0.1 per­cent­age point lower than that of the first quarter. An anal­y­sis by types of own­er­ship showed that the value added of the state hold­ing en­ter­prises went up by 7.6% year-on-year, col­lec­tive en­ter­prises down by 1.9%, share-hold­ing en­ter­prises up by 6.7%, and en­ter­prises funded by for­eign in­vestors or in­vestors from Hong Kong, Ma­cao and Tai­wan up by 6.2%. In terms of sec­tors, the value added of the min­ing grew by 1.6% on a year-on-year base, the man­u­fac­tur­ing grew by 6.9% and the pro­duc­tion and sup­ply of elec­tric­ity, ther­mal power, gas and wa­ter grew by 10.5%. The value added of high-tech in­dus­try and equip­ment man­u­fac­tur­ing in­dus­try grew by 11.6% and 9.2% year-on-year re­spec­tively, 4.9 per­cent­age points and 5.2 per­cent­age points higher than that of the in­dus­trial en­ter­prises above the des­ig­nated size as a whole. In June, the to­tal value added of the in­dus­trial en­ter­prises above the des­ig­nated size went up by 6.0% year on year. In the first five months of 2018, the to­tal profit made by in­dus­trial en­ter­prises above the des­ig­nated size was RMB 2,729.8 bil­lion, up by 16.5% year-onyear. The profit rate from prin­ci­pal busi­nesses of in­dus­trial en­ter­prises above the des­ig­nated size was 6.36%, 0.35 per­cent­age point higher than that of the same pe­riod last year.

Im­ports and ex­ports of ser­vices

In Jan­uary-may of 2018, the to­tal vol­ume of China’s im­ports and ex­ports of ser­vices reached RMB 2.10247 tril­lion, up 12% year-on-year. Among these, the ex­port amount was RMB 691.53 bil­lion, up 13.3%; the im­ports reached RMB

1.41094 tril­lion, up 11.4%; and the trade deficit was RMB 41 bil­lion. The of­fi­cial of the Depart­ment of Trade in Ser­vices and Com­mer­cial Ser­vices pointed out that China’s im­ports and ex­ports of ser­vices mainly showed the fol­low­ing fea­tures in the pe­riod of Jan­uary-may 2018.

The growth rate of im­ports and ex­ports of ser­vices reached a new high since the beginning of this year. In Jan­uary-may China’s pro­duc­tion in­dex of ser­vice in­dus­try grew by 8.1%, driv­ing the growth of im­port and ex­port of ser­vices hit­ting a new high, 3.2 per­cent­age points higher than that of goods in trade over the same pe­riod. In terms of the US dol­lar, in Jan­uary-may, the growth rate of im­ports and ex­ports reached 21.4%, that of ex­ports reached 22.8% and that of im­ports reached 20.8%, all of these were much higher than those of the US in Jan­uary-may, which were 7.4%, 6.6% and 8.5% re­spec­tively. The im­port and ex­port of ser­vice took up 15.3% of the to­tal for­eign trade, 0.7 per­cent­age points higher than that in the same pe­riod last year.

Trade in new ser­vices re­al­ized rapid growth. In Jan­uary-may, im­ports and ex­ports of new ser­vices was RMB 58 bil­lion, in­creas­ing by 18.6%, 6.6 per­cent­age points higher than the over­all growth rate and driv­ing the pro­por­tion of new ser­vices up 1.9% Among these, ex­ports of new ser­vices was up 23.3%, ac­count­ing for over 52.4% of the to­tal ex­port of ser­vices, 4.3 per­cent­age points higher than that of last year; ex­ports of telecom­mu­ni­ca­tion, com­puter and in­for­ma­tion ser­vice in­creased by 56.3% and ex­port of trans­fer fee and con­signed re­search and de­vel­op­ment of R&D achieve­ments in­creased by 24.9%; im­ports of new ser­vices rose by 13.8%, tak­ing up 23.5% of the to­tal im­port of ser­vices, 0.5 per­cent­age points higher than that of the same pe­riod last year. Among these, the im­port of per­mis­sion fee of au­dio vis­ual and its re­lated prod­ucts and in­sur­ance ser­vices in­creased by 58.4% and 18.2% re­spec­tively.

Im­ports and ex­ports of tra­di­tional ser­vices main­tained a sta­ble growth. In Jan­uary-may, the im­port and ex­port vol­ume of three largest tra­di­tional ser­vices like tourism, trans­porta­tion and con­struc­tion in­creased by 8.2%, 12.5% and 13.2% re­spec­tively.

With the sup­ply-side struc­tural re­form and the ac­cel­er­a­tion of the up­grad­ing and trans­for­ma­tion of man­u­fac­tur­ing, China’s in­ter­na­tional com­pet­i­tive­ness is ex­pand­ing from man­u­fac­tur­ing to ser­vice grad­u­ally, and at the same time, high qual­ity house­hold con­sump­tion de­mands is grow­ing rapidly. In the fu­ture, China’s ser­vice trade will con­tinue the fa­vor­able de­vel­op­ment trend, and the na­tional brand in­flu­ence of “China Ser­vice” and new ad­van­tages of in­ter­na­tional competition will be more prom­i­nent.

Out­ward in­vest­ment

The out­ward in­vest­ment co­op­er­a­tion in the first half of 2018 main­tained its sta­ble and sound de­vel­op­ment, mainly show­ing the fol­low­ing fea­tures:

The in­vest­ment in the coun­tries along the Belt and Road routes and the co­op­er­a­tion with them were pro­moted steadily. In the first half of 2018, the new in­vest­ment amount in 55 coun­tries along the Belt and Road routes reached up to USD 7.4 bil­lion, with an in­crease of 12% year on year. The to­tal value of the newly signed con­trac­tual projects in coun­tries along the Belt and Road routes amounted to USD 47.79 bil­lion, tak­ing up 44.8% of China’s to­tal value of over­seas con­trac­tual projects over the same pe­riod of time; the turnover was USD 38.95 bil­lion, tak­ing up 53.5% of the to­tal amount in the same pe­riod. 82 over­seas eco­nomic and trade co­op­er­a­tion zones are con­structed in 24 coun­tries along the Belt and Road routes with the new in­vest­ment amount reach­ing USD 2.59 bil­lion, tak­ing up 87% of the to­tal new in­vest­ment in China’s over­seas eco­nomic and trade co­op­er­a­tion zones; the taxes paid to the host coun­tries reached USD 0.3 bil­lion, tak­ing up 71.4%.

The way of out­ward in­vest­ment showed in­no­va­tion and cross-bor­der merg­ers and ac­qui­si­tions be­came the main means. In the first half of 2018, dif­fer­ent kinds of forms such as green field in­vest­ment, M& A, joint in­vest­ment, phys­i­cal in­vest­ment, eq­uity re­place­ment and round-trip­ping cap­i­tal have emerged. Among these, in terms of cross-bor­der merg­ers and ac­qui­si­tions, rel­e­vant en­ter­prises con­ducted 140 merg­ers and ac­qui­si­tions, cov­er­ing 16 in­dus­tries over 41 coun­tries and re­gions, and the ac­tual trans­ac­tion value reached USD 26.11 bil­lion, mainly from man­u­fac­tur­ing in­dus­try and min­ing in­dus­try.

The str uc­ture of out­ward in­vest­ment in­dus­tries was con­stantly op­ti­mized and the ir ra­tio­nal in­vest­ment was ef­fec­tively re­strained. In the first half of 2018, out­ward in­vest­ment mainly wentto lease and com­mer­cial ser­vice in­dus­try, man­u­fac­tur­ing, min­ing in­dus­try and whole­sale and re­tail in­dus­try, tak­ing up 32.6%, 15.8%, 11.5% and 9.5% re­spec­tively. No new projects were added in real es­tate, sports and en­ter­tain­ment ar­eas.

The con­struc­tion of over­seas eco­nomic and trade co­op­er­a­tion zones had re­mark­able achieve­ments, pro­mot­ing the com­mon de­vel­op­ment of China and the host coun­tries. By the first half of 2018, 113 over­seas eco­nomic and trade co­op­er­a­tion zones had taken shape in 46 coun­tries with a to­tal in­vest­ment of USD 34.87 bil­lion, at­tract­ing 4,542 en­ter­prises to en­ter into the zone, pay­ing the taxes of USD 2.86 bil­lion to the host coun­tries and cre­at­ing 287,000 jobs in the lo­cal re­gions.

There are many newly signed big con­trac­tual for­eign projects, ob­vi­ously pulling up the ex­port. In the first half of 2018, the value of 356 over­seas con­trac­tual projects was over USD 50 mil­lion, adding up to USD 90.55 bil­lion, ac­count­ing for 84.8% of the to­tal value of the newly signed con­tracts. The ex­ported goods pulled up by con­trac­tual projects amounted to USD 8.99 bil­lion, up 23.1% year on year.

In the first half of 2018, the rel­e­vant ad­min­is­tra­tive de­part­ments filed and checked 3,743 over­seas in­vest­ment en­ter­prises, and the amount of China’s con­tracted for­eign in­vest­ment reached USD 68.25 bil­lion. Among these, 3,719 non-fi­nan­cial for­eign in­vest­ment en­ter­prises were filed or checked, and China’s con­tracted for­eign in­vest­ment reached USD 63.27 bil­lion; 24 fi­nan­cial for­eign in­vest­ment en­ter­prises were filed or checked, and China’s con­tracted for­eign in­vest­ment reached USD 4.98 bil­lion.

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