Enterprise Indicators Up

Enterprise performance and employment in east China's Zhejiang Province in the second quarter hit their highest levels since 1998.

The enterprise performance index was 146.7, up 13.4 percent over the same period of last year and 12.3 percent higher than the first quarter of this year.

The index indicated that entrepreneurs were showing more confidence in the macro-economy and enterprises were likely to expand, local officials explained.

The labor index increased by 7.7 percent to 110.4 in the second quarter, the highest since 1998.

The product order index was 112.6 during the April-June period, an increase of 6.5 percent over the same period of last year. The average utilization rate of factory equipment was 86.6 percent, up2.1 percent.

The fixed assets investment index was 130.4, up 14 percentage points.

Industrial Production, Sales Grow

Industrial production and sales grew markedly this year.

Total industrial added value was 86.1 billion yuan (US$10.4 billion) during the January-June period, up 13.2 percent over the same period last year and 1.9 percent more than the first quarter of this year, according to the latest statistics from the provincial bureau of statistics.

The rapid industrial growth stemmed from industrial efficiency reforms, better market competence and production and sales capabilities, said the statistics bureau.

According to the statistics, 96.81 percent of the products manufactured from January to August were sold, a year-on-year rise of 0.6 percent.

Sales increased by 18.9 percent during the first eight months, export value grew by 21.1 percent, and total profits and taxes were up by 20.5 percent.

The bureau said the increase in sales was faster than that of production, while the increase in profits and taxes surpassed that of sales.

More than half of the province's gross domestic product, or 53.8 percent, came from its industrial sector. Industrial growth has became the principal engine for the fast economic growth of the province, said the bureau.

Income, Savings Increase

Both urban and rural people in east China's Zhejiang Province have more disposable income, according to the latest statistics report.

The disposable income of urban residents increased by 17.4 percent from January to August and that of rural people grew by 8.8 percent during the first half of the year.

Deposits in financial institutions amounted to 1,051.5 billion yuan (US$127 billion) by the end of August, 170.6 billion yuan (US$20.6 billion) more than the start of the year, and a year-on-year increase of 69.4 billion yuan (US$8.4 billion).

The total fiscal revenue of the province was 77.9 billion yuan (US$9.4 billion), and the revenue in local budgets was 38.37 billion yuan (US$4.6 billion) during the first eight months, up by 27.4 percent and 19.6 percent respectively.

Loans Rose Remarkably

Loans of financial institutions rose to 779.1 billion yuan (US$94 billion) at the end of August, an increase of 128 billion yuan (US$15.4 billion) over the start of the year.

The loans mainly went to high efficiency agriculture, private small and medium-sized enterprises, urban infrastructure construction, and individual consumption, according to the provincial bureau of statistics.

Small enterprises received 22.3 percent more loans from the banks during the first eight months of this year. In fact, 83.4 percent of new loans were extended to small enterprises.

The industrial sector of the province consumed 18.3 percent more electricity during the January-August period on the basis of the comparable figure last year. Electricity consumption in the province has been growing at a double-figure rate for several years, bureau statistics show.

(china.org.cn October 8, 2002)