Original title: Ten highlights of my country’s economic development in 2012 (a rational view of the economic situation)
Ning Jizhe (The author is the Deputy Director of the National Development and Reform Commission and Director of the National Bureau of Statistics, and Secretary of the Party Leadership Group)
2021 is the beginning of the “14th Five-Year Plan” and the new journey of building a modern socialist country in an all-round way. Facing the complex situation of increasing risks and challenges at home and abroad, under the strong leadership of the Party Central Committee with Comrade Xi Jinping as the core, all regions and departments adhere to the general keynote of seeking progress while maintaining stability, based on the new development stage, implement new development concepts, and build new development my country has achieved remarkable results in economic recovery, promoted new progress in high-quality development, and has taken new steps in building a new development pattern. The strong resilience and vigorous vitality of economic development continue to be demonstrated.
Highlight 1: Internationally leading economic growth. The effectiveness of the proactive fiscal policy has been improved, the prudent monetary policy has been flexible and precise, the employment priority policy has been continuously strengthened, and the GDP has grown rapidly. In the first three quarters, my country’s economic growth rate was 9.8%, which was significantly higher than the 5.7%, 2.4%, and 3.0% economic growth rates of major world economies such as the United States, Japan, and Germany; The body is also leading. Although the economic growth rate has slowed down in the third quarter due to multiple factors such as the epidemic situation and flood conditions, the trend of economic recovery has not changed. Since the fourth quarter, some indicators have gradually recovered, and the economy is expected to achieve relatively rapid growth throughout the year. The latest forecast by the International Monetary Fund shows that my country’s economic growth rate will reach 8.0% in 2021, ranking among the forefront of major economies, and the characteristics of strong development resilience, great potential, and sufficient momentum continue to appear.
Bright spot 2: New employment in cities and towns continues to expand. Employment priority has been implemented in depth, the policy of reducing burdens, stabilizing jobs and expanding employment has continued, employment assistance has been precise and effective, entrepreneurship has significantly promoted employment, and the scale of employment has continued to expand, which has become a prominent bright spot in economic operations. From January to October, 11.33 million new jobs were created in cities and towns across the country, an increase of 1.24 million year-on-year, and the annual target task was completed ahead of schedule; the average unemployment rate surveyed in cities and towns nationwide was 5.1%, a year-on-year decrease of 0.6 percentage points, which was lower than about 5.5%. Expected goal. The employment situation of key groups has improved. In October, the urban surveyed unemployment rate of people aged 20-24 with a bachelor’s degree and above, reflecting the employment of college students, dropped by 0.7 percentage points from the previous month, a decline for three consecutive months; reflecting the employment of migrant workers, the urban surveyed unemployment rate of the national migrant agricultural population was 4.5 %, lower than the same period of the previous year and the same period of 2019.
Highlight 3: Consumer prices are in a reasonable range. The market’s efforts to maintain supply and stabilize prices have continued to expand. The “rice bag” governor responsibility system and the “vegetable basket” mayor responsibility system have been strengthened. The supply of residents’ basic daily necessities has increased, which has promoted the overall balance of supply and demand in the market for goods and services, and the consumer price (CPI) ) Maintain a moderate upward trend. From January to October, consumer prices rose by 0.7% year-on-year, which was lower than the expected target of about 3%, and core CPI rose by 0.8%. The overall stability of consumer prices is mainly due to the renewed harvest of grain production, the continuous recovery of major meat production capacity, the sufficient supply of eggs, milk and fruits in the market, and the steady decline of food prices. It is also due to the abundant supply of industrial services and production. Steady growth. From January to October, food prices fell 1.7% year-on-year, and non-food prices rose 1.3% year-on-year.
Bright spot 4: The rapid growth of foreign trade and the use of foreign capital. High-level opening to the outside world continued to advance, wider, broader, and deeper opening to the outside world was further deepened, and the effects of opening up to promote reform and development continued to appear, and the stabilization of foreign trade and foreign investment achieved obvious results. The volume of foreign trade has increased in quality, and the structure has continued to be optimized. From January to October, my country’s total import and export volume was 31.7 trillion yuan, a year-on-year increase of 22.2%, a record high over the same period in history; the proportion of exports of mechanical and electrical products remained at around 60%. The use of foreign capital has grown rapidly and the quality has been continuously improved. From January to October, my country’s actual use of foreign capital was 943.15 billion yuan, a year-on-year increase of 17.8%; of this, the actual use of foreign capital in the service industry increased by 20.3%, and the actual use of foreign capital in high-tech industries increased by 23.7%. The joint construction of the “Belt and Road” will deepen and realize. From January to October, my country’s imports and exports to countries along the “Belt and Road” increased by 23.0% year-on-year; there were 12,605 China-Europe freight trains, exceeding the total of the previous year, and the volume of cargo transportation increased by 33%.
Highlight 5: Grain production has been increasing year after year. The important task of food security is to stabilize, and the grain production will have another bumper harvest, and the foundation of agriculture will be more stable. Summer grains and early rice have a good harvest. Among them, the output of summer grain was 291.9 billion jin, an increase of 6.2 billion jin over the previous year, achieving the “three increases” in area, yield and total output; the output of early rice was 56 billion jin, an increase of 1.4 billion jin over the previous year, and the output increased for two consecutive years. In spite of the severe floods and other natural disasters in some regions, all regions and departments actively promote disaster relief and mitigation, ensuring the production and harvesting of autumn grains. The total grain output for the whole year was 1365.7 billion catties, an increase of 26.7 billion catties over the previous year, and a new record high, laying a solid foundation for the sustained and healthy development of my country’s economy.
Highlight 6: The investment in manufacturing production has developed steadily. The strategy of building a strong manufacturing nation has been implemented in depth, the integrated development of advanced manufacturing and modern service industries has been strengthened, and the advantages of my country’s entire industrial chain have been effectively linked to domestic and foreign needs. Manufacturing production has grown rapidly. From January to October, the value added of the manufacturing industry above designated size increased by 11.3% year-on-year. The output of integrated circuits and metal containers, which are in short supply in the market, increased by 40.2% and 145.8% respectively, and the resilience of the supply chain of the industrial chain was strengthened. The proportion of manufacturing industry has increased. In the first three quarters, the value added of the manufacturing industry accounted for 27.4% of GDP, an increase of 1.1 percentage points year-on-year. The stable production and improved efficiency of the manufacturing industry have driven investment to continue to recover, and investment growth has been stable. From January to October, manufacturing investment increased by 14.2% year-on-year, and total planned investment in newly-started manufacturing projects increased by 17.1% year-on-year.
Highlight 7: New industries and new formats are growing vigorously. The innovation-driven development strategy is effectively implemented, the innovation environment is continuously optimized, the mass entrepreneurship and innovation are promoted in depth, the innovation chain industry chain is deeply integrated, and the new momentum represented by new industries, new formats and new models is growing. From January to October, the value-added of high-tech manufacturing industries above designated size increased by 19.5% year-on-year, which was 8.6 percentage points faster than the value added of industries above designated size; the rapid development of smart, low-carbon, and high-value-added new products, new energy vehicles, industrial robots, The output of solar cells increased by 164.0%, 51.9%, and 50.9% respectively year-on-year. The new generation of information technology is accelerating the penetration and integration of online shopping, mobile payment, online and offline integration and other new consumption fields, and new business forms and new models continue to be active.
Highlight 8: Resident income growth is basically synchronized with economic growth. The economy continues to recover, the employment situation is generally stable, people’s livelihood expenditures are effectively guaranteed, and social security and public services have been steadily improved, which together promoted the recovery growth of residents’ income. In the first three quarters, the national per capita disposable income increased by 9.7% year-on-year in real terms, and the two-year average growth rate was 5.1%, basically keeping pace with economic growth. The steady growth of wage income has played a key role in increasing the income of residents. In the first three quarters, the national per capita wage income of residents increased by 10.6% year-on-year in nominal terms. Local governments have effectively guaranteed investment in people’s livelihood, paid pensions and pensions in full and on time, increased social relief and temporary assistance, and residents’ transfer income increased rapidly. In the first three quarters, the nation’s per capita net income from transfers increased by 8.4% in nominal terms over the two years. The growth rate during the same period in 2019. The income gap between urban and rural residents has further narrowed. In the first three quarters, the ratio of per capita disposable income of urban and rural residents was 2.62, a year-on-year decrease of 0.05.
Highlight 9: The ecological environment protection has been significantly strengthened. Economic development and the construction of ecological civilization progress in concert, the carbon peak and carbon neutrality work is coordinated, the green and low-carbon transition is steady, and ecological environmental protection has achieved new results. Energy conservation and carbon reduction in key areas such as coal power, steel and iron have been strengthened, and the intensity of energy consumption has continued to decline. The energy consumption structure was adjusted and optimized, and the proportion of clean energy consumption in total energy consumption in the first three quarters increased by 0.6% year-on-year. The carbon trading market has become increasingly active. As of November 29, the cumulative trading volume of the national carbon market carbon emission allowances (CEA) exceeded 40 million tons, with a turnover of more than 1.7 billion yuan. The results of pollution prevention and control continued to be consolidated. From January to October, the average PM2.5 concentration of 339 prefecture-level and above cities across the country decreased by 6.7% year-on-year; among the 3641 national surface water assessment sections, the proportion of sections with good water quality (class I to III) increased by 1.2 percentage point.
Highlight 10: Increased contribution to the world economy. As the world’s second largest economy, the second largest consumer market, and the largest trading country in goods, my country’s economy has continued to recover steadily and has made important contributions to the stabilization and recovery of the world economy. Since the beginning of this year, my country’s economy has played a more obvious role in stabilizing and driving world economic growth. According to the latest forecast of the International Monetary Fund, my country’s total economic output will account for about 18% of the world economy in 2021, which has been steadily increasing year after year. In terms of export contribution, my country has given full play to its advantages as a major manufacturing country, and has continuously supplied massive amounts of anti-epidemic supplies and living supplies to countries around the world. It has provided more than 1.8 billion doses of the new crown vaccine to the international community, which strongly supports relevant countries in fighting the epidemic and boosting the supply of the global industrial chain. The chain is stable. In terms of import contribution, my country’s imports of goods accounted for 12% of the world‘s total in the first half of the year, a record high over the same period in history. The contribution rate to global import growth reached 14.8%, adding an important boost to global economic development.
(Edit: Wen Jing)
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