National Economic performance in August

In August, national economic performance continued to keep favorable development.

Main features of economic performance in August:

1. Steady growth is seen in industrial production.In August, total complete value-added of industry was 201.2 billion yuan, up by 12.8% over the same month of last year. From January to August, the total complete value-added of industry reached 1496.8 billion yuan, up 11.6% over the same period of last year.

Main features of industrial production as follow:

a.Production of state-owned and enterprises invested by foreigners or investors from Hong Kong, Macao and Taiwan continued to keep fairly fast growth. In August, the total complete value-added of state-owned and state-owned share holding enterprises was 120.7 billion yuan, up by 12.1%; that of enterprises invested by foreigners or investors from Hong Kong, Macao and Taiwan was 46.4 billion yuan, up by 14.9%. The total complete value-added of share holding enterprises was 41.9 billion yuan, up 17.2% over the same month of last year. its growth rate was 0.4 percentage points higher than the previous month. Production of collective enterprises increased steadily, the total complete value-added reached 27 billion yuan, up 8% over the same month of last year.

b.The growth of heavy industry increased to some extent. In August, the total value-added of heavy industry was 123.1 billion yuan, up 14.9% over the same month of last year. And the growth rate was 0.2 percentage points higher than the previous month; the total value-added of light industry was 78.1 billion yuan, up 10.3% over the same month of last year, down 0.3 percentage points over the previous month.

c.Production of large and medium-sized enterprises increased fast. In August, the the total value-added of large and medium-sized enterprises increased 13.5% over the same month of last year, up 0.7 percentage points higher than national industry, of which, state-owned increased 10.1%.

d.Production and marketing situation continued to keep good level. In August, the sales ratio of industrial enterprises was 98.16%, up 0.32 percentage points. Of which, light industry was 98.03%, heavy industry was 98.24%. From January to August, the sales ratio of industrial enterprises was 97.11%, up 0.84 percentage points over the same period of last year.

II. The growth rate of investment is proper. From January to August, the total investment in fixed assets (excluding urban and rural collective units and individual investment) reached 1119.5 billion yuan, up 12.7% over the same period of last year. Investment in fixed assets in this month was 181.2 billion yuan, up 13.1% over the same period of last year, 1.7 percentage points slower over the previous month.

The investment in capital construction reached 624.7 billion yuan, up 7.7% over the same period of last year. The investment in capital construction in western areas increased fast, and reached 15.5%. The investment in technical updating and transformation was 207.1 billion yuan,up 21.6%. In this month, the investment in fixed assets reached 33.8 billion yuan, down 4 percentage points than that in last month.

. Market sales were brisk. In August, total retail sales of consumer goods hit 263.63 billion yuan, up 9.3% over the same month of last year. In terms of location of establishments, total retail sales in city reached 165.14 billion yuan, up 10.5% over the same month of last year, that in country and under country level was 98.49 billion yuan, up 7.5% over the same month of last year. In term of sectors, total retail sales of consumer goods in wholesale and retail sales trades reached 176.72 billion yuan, up 12.5%, that in catering trade reached 29.76 billion yuan, up 17.2%.

. The consumer price picked up slightly. In August, consumer price was up 0.3% over the same month of last year. From January to August, consumer price was up 0.2% over the same period of last year.

In August, retail price was down 1.3 percentage points over same month of last year. From January to August, retail price was down 1.7 percentage points over the same period of last year.

. Exports and imports continued to increase rapidly. From January to August, total value of exports and exports was 301.74 billion US dollars, up 36.7% over the same period of last year, the trade surplus was 16.95 billion US dollars. Of which, the value of exports was 159.34 billion US dollars, up 34.6%, and the value of imports was 142.39 billion US dollars, up 39.2% over the same period of last year.

In August, the value of exports was 23.33 billion US dollars, up 27.4%, value of imports was 20.79 billion US dollars, up 54.6% over the same month of last year.

. Financial performance developed steadily. By the end of August, broad money M2 was 12779 billion yuan, up 13.3% over the same period of last year, narrow money M1 was 4888.5 billion yuan, up 21.9% over the same period of last year, down 0.7 percentage over last month. Cash in circulation M0 was 1337.9 billion yuan, up 17.4%. In August, total net cash supply was 22.2 billion yuan, 2.6 less than that in the same period of last year.

By the end of August, total loans balance of all financial institutions was 11812.7 billion yuan, up 13.8% over the same period of last year, new-loans in this month was 100 billion yuan, more 5.6 billion yuan than that in the same month of last year. Total enterprises deposits balance was 4114.7 billion yuan, up 21.2%, savings deposits balance of urban and rural residents was 6286.1 billion yuan, up 6.2% over the same period of last year.