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Monday, May 17, 2021, 10:50
China's industrial output up 9.8% year-on-year in April
By Xinhua
Monday, May 17, 2021, 10:50 By Xinhua

Workers assemble engines at an assembly line at a workshop of Weichai Power Co., Ltd. in Weifang city, east China's Shandong province, April 22, 2021. (GUO XULEI / XINHUA)

BEIJING - China's value-added industrial output, an important economic indicator, went up 9.8 percent year-on-year in April as factory activities continued to pick up, data from the National Bureau of Statistics (NBS) showed Monday. 

The figure was up 14.1 percent from the level in 2019, bringing the average growth for the past two years to 6.8 percent, NBS data showed.

In the first four months, China's industrial output rose 20.3 percent year-on-year, resulting in an average two-year growth of 7 percent

In the first four months, industrial output went up 20.3 percent year-on-year, resulting in an average two-year growth of 7 percent.

The private sector's output increased 11.2 percent year-on-year in April, and the output of state-controlled enterprises rose 8.6 percent.

The manufacturing sector's output jumped 10.3 percent year on year in April while the mining sector saw output increase 3.2 percent.

ALSO READ: Why economic growth this year will likely be high

Last month, the equipment manufacturing output and the high-tech manufacturing output expanded 13.1 percent and 12.7 percent, respectively.

The industrial output is used to measure the activity of designated large enterprises with an annual business turnover of at least 20 million yuan (about US$3.11 million). 

China's economic operations further stabilized in April, said the NBS, calling for more efforts to consolidate the growth amid a complicated epidemic situation and uneven global economic recovery.

Looking forward, the foundation for China's economic recovery in the second half of this year remains solid as both domestic and external demand bounce back, NBS spokesperson Fu Linghui said.

"Consumption will play a bigger role in driving economic growth as employment expands and residents' incomes rise," Fu said, adding that investment will also likely increase as companies remain upbeat on market prospects.

Fixed-asset investment rises 19.9% in first 4 mths

China's fixed-asset investment went up 19.9 percent year-on-year in the first four months of this year, NBS data showed.

Fixed-asset investment amounted to 14.38 trillion yuan (about US$2.24 trillion) in that period, according to the NBS.

The double-digit growth was driven by a low base of comparison early last year when COVID-19 paralyzed economic activities in China. Compared with the 2019 level, the growth in fixed-asset investment came in at 8 percent during the Jan-April period.

Investment by the state sector went up 18.6 percent during that period, while private-sector investment rose 21 percent.

On a month-on-month basis, fixed-asset investment rose 1.49 percent in April.

Investment in the primary industry climbed 35.5 percent year-on-year in the first four months, while investment in the secondary industry rose 21.7 percent,  and investment in the tertiary industry increased by 18.7 percent.

Investment in high-tech manufacturing and services jumped 34.2 percent and 18.1 percent year-on-year, respectively.

China's economic operations further stabilized in April, the National Bureau of Statistics said, calling for more efforts to consolidate the growth amid a complicated epidemic situation and uneven global economic recovery

Fixed-asset investment includes capital spent on infrastructure, property, machinery and other physical assets.

Retail sales up 29.6% during Jan-April

China's retail sales of consumer goods went up 29.6 percent year-on-year in the first four months of this year, the NBS said.

The growth reversed from declines seen in the first four months last year, when consumer spending was disrupted by the COVID-19 pandemic.

The average Jan-April growth for the past two years stood at 4.2 percent, the NBS said.

In April, retail sales surged 17.7 percent year-on-year and was 8.8 percent higher from the 2019 level. The two-year average growth was 4.3 percent.

READ MORE: China retail sales growth expected to exceed 10% in 2021

The retail sales of most categories kept positive growth. Of the total, the average two-year growth of 10 categories including sports and recreational goods, gold, silver and jewellery, and telecommunication equipment exceeded 10 percent.

In April, consumption in urban areas stood at about 2.89 trillion yuan (about US$449.4 billion), up 17.6 percent from a year earlier. The figure in rural areas went up 17.8 percent year-on-year to reach 426.5 billion yuan.

The catering industry reported a 67.7-percent year-on-year increase in revenue in the first four months, as the hardest-hit sector continued to recover from the COVID-19 disruptions.

This undated photo captures an employee loading cartons of bamboo shoots onto a truck for shipment at an e-commerce company in Hangzhou, Zhejiang province. (HU JIANHUAN / FOR CHINA DAILY)

Online consumption remained a bright spot, with online retail sales rising 27.6 percent year-on-year to reach about 3.76 trillion yuan in the Jan-April period.

Online sales of physical commodities went up 23.1 percent year-on-year, accounting for 22.2 percent of total retail sales during the same period.

Property investment rises 21.6% in first 4 mths

China's investment in property development rose 21.6 percent year-on-year in the first four months of this year, according to the NBS data.

Compared with the 2019 level, property investment went up 17.6 percent during the Jan-April period, NBS data showed. 

Investment in residential buildings gained 24.4 percent year-on-year in the first four months, according to the NBS.

Commercial housing sales surged 48.1 percent year-on-year in terms of floor area to 503.05 million square meters. In terms of value, commercial housing sales jumped 68.2 percent.

The property development climate index compiled by the NBS last month came in at 101.27 points.

Home prices slightly up in April

China continued to see a generally stable housing market in April, with home prices in 70 major cities showing moderate month-on-month increases, NBS data showed.

New home prices in four first-tier cities - Beijing, Shanghai, Shenzhen and Guangzhou - rose 0.6 percent month-on-month in April, compared with a 0.4-percent increase registered in March, according to the data.

A total of 31 second-tier cities saw a month-on-month increase of 0.6 percent in new home prices, while 35 third-tier cities witnessed a month-on-month rise of 0.4 percent in new home prices last month.

New home prices in first-tier cities rose 5.8 percent in April while those in second-tier cities went up 4.9 percent

The resale home market in first-tier cities saw prices increase 0.8 percent month-on-month in April, edging down 0.2 percentage points from March.

Prices of resale homes in second-tier cities saw a 0.5-percent month-on-month increase, while those in third-tier cities climbed 0.3 percent.

On a year-on-year basis, home prices registered faster expansion, the NBS said.

New home prices in first-tier cities rose 5.8 percent in April, up from 5.2-percent growth in March, while those in second-tier cities went up 4.9 percent, up from a 4.8-percent expansion in the previous month.

The resale home prices in first-tier cities grew 11.3 percent from a year earlier, narrowing 0.1 percentage points from the growth in March.

READ MORE: Housing woes in key cities to get top priority

Surveyed urban unemployment rate down

China's surveyed urban unemployment rate stood at 5.1 percent in April, 0.9 percentage points lower than the same period last year, NBS data showed.

Compared with March, the April figure was 0.2 percentage points lower, said the NBS. A total of 4.37 million new urban jobs were created in the first four months.

The surveyed unemployment rate among those aged between 25 and 59, the majority of the labor market, stood at 4.6 percent last month.

Meanwhile, the surveyed unemployment rate in 31 major cities was 5.2 percent in April, 0.1 percentage points lower than that of March, according to the NBS.

The surveyed urban unemployment rate is calculated based on the number of unemployed people who have participated in the employment survey in urban areas.


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