Xinhua Beijing, November 22, a new issue of "Outlook" Newsweek published in the CPC Central Committee Policy Research Office of the Secretary General Zhao Tao's article said that China's response to the international financial crisis package of policy measures, has achieved remarkable results, a faster reversal of the economic slowdown. With five factors stabilizing, China's economic and social development is better than expected at the beginning of this year, and the goal of achieving the 8% growth target should not be suspense. Agriculture harvest, industrial production growth accelerated this year agricultural production again harvest, summer and early rice yield 2% and more than 5% respectively, the annual grain production is expected to get a good harvest. Through the implementation of the top ten industrial revitalization planning, industrial production growth accelerated quarterly. Above-scale industries increased by 5.1% in the first quarter, two-quarter growth of 9.1%, three-quarter growth of 12.4%, four-quarter is expected to further growth in October, above-scale industrial value increase of 16.1%, initially expected to reach the annual growth rate of 15%~16%. Industrial production growth led to economic growth, the first three quarters of this year, China's growth accelerated quarterly, the third quarter of GDP growth of 8.9%. The demand structure has improved markedly, and the stimulating effect of domestic demand on economic growth has significantly enhanced investment to maintain rapid growth. The total investment in fixed assets grew by about 33.1% in January-October, 5.9% faster than last year, and the new projects increased substantially. Consumption continued to flourish, in January-October, the total retail sales of consumer goods 10.1394 trillion yuan, an increase of 15.3%. The expansion of domestic demand policy to improve the consumption environment, under the stimulus of consumption policy, auto, home appliance production and sales, housing market began to go out of the doldrums. Among them, the industry and consumption to pull a strong role in automobile production and sales increased significantly. Encouraged by national policy, the three quarter of this year, the domestic auto market appeared in the off-season is not light, the peak season more prosperous good momentum. The first 10 months of this year, the production of domestic cars Chiwan, 10.87 million and 10.89 million respectively, year-on-year growth of more than 36%, of which September auto sales growth of 77.9%, a record high. This year China's new car sales jumped the world's first, has become a major automobile production and consumption. Home appliances to the countryside, the total sales of various products more than 20 million units (pieces); the sales of commercial residential areas from the same period last year decreased by 15% to 46.6%. Fiscal conditions and corporate profitability improved financially, revenues rebounded from May, and growth has accelerated markedly in recent months. January-October National financial cumulative income of 5,836,380,000,000 yuan, an increase of 408.799 billion yuan, an increase of 7.5%. Among them, October national revenue 684.493 billion yuan, increase 151.598 billion yuan in the same month last year, increase 28.4%. The profit decline of industrial enterprises above the scale is narrowed. The loss of corporate losses from May ago the growth momentum August to a significant decline. The overall price level is relatively stable, inflation has not yet occurred, the rapid growth of monetary credit, new loans increased substantially, January-October RMB loans increased by 8.29 trillion yuan, the year-on-year increase of 5.26 trillion yuan. The money supply is growing rapidly and the cash M0 balance in circulation is 3.57 trillion yuan, an increase of 14.09%. Market liquidity remains in a moderately loose state. January-October Cumulative, consumer prices fell 1.1% year-on-year, of which food prices rose 1.6% year-on-year, tobacco and alcohol and health care personal supplies and other prices rose 1.2%~1.3%, most of the other consumer goods and services prices fell, the factory price of industrial products fell 6.4% year-on-year, agricultural means of production prices fell. Overall, the consumer prices and factory price of industrial products continued to narrow the year-on-year decline, the overall price level is relatively stable, has not occurred in inflation. However, due to the market liquidity is moderately loose, asset prices and commodities such as gold, crude oil and other commodity prices continued or strong upward momentum, price fluctuations significantly increased, forming a certain inflationary expectations. However, as long as the overall price level rises below 3%, inflation will not form the main contradiction of economic growth. The reform of the key areas has made new progress to accelerate the improvement of social security system, promote education, medical system reform, production factors and resource price formation mechanism reform, increase the support for small and medium-sized enterprises to make some progress. Among them, the start-up of capital market Gem, in the current situation to expand domestic demand, to protect growth has a positive significance.
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