Statistics: economic growth fell slightly, but the fundamentals have not changed the overall steady

Updated: October 20, 2015  Views: 34

Source: National Bureau of Statistics

BEIJING, Oct. 19 electric State Statistical Bureau spokesman, Comprehensive Statistics Division Sheng Yun said today that the national economy, although the economic growth rate dropped slightly, but the fundamentals have not changed the overall smooth, steady intake and stable situation has not changed for the better.

State Council Information Office held a press conference today, ask the National Bureau of Statistics spokesman, comprehensive economic statistics Secretary Sheng Yun introduced in the first three quarters of 2015 the operation of the national economy, and answered reporters' questions.

Sheng Yun said that third quarter GDP growth of 6.9 percent, down to 7%, but declined by only 0.1 percentage point, it should be said, or about 7%. As to why the growth rate fell slightly in the third quarter, the main reason is entering the third quarter, Later, international and domestic economic and financial situation there are some new situations and new problems.

From an international perspective, the world economic recovery is less than expected, some time ago, as the World Bank [microblogging], the IMF and other international agencies have lowered the expected world economic growth, the general decline of 0.2 to 0.3 percentage points Another factor, to observe the international level, the United States, interest rates are expected to further strengthen, resulting in world commodity prices, stock market, currency turmoil sharply, further depreciation of the currencies of many countries, which has increased the pressure on China's exports. So three quarters of China's exports is -6.8%, a decline of 4.6 percentage points compared to expand in the second quarter, so the downward pressure troika is to increase the export.

From the domestic situation, primarily China is still at a crucial stage of restructuring, not only in the traditional industries to the inventory, but in a real way to produce energy, steel, cement, building materials and these traditional industries with excess capacity growth have emerged decline in the first three quarters, crude steel production fell by 2.1 percent, cement production fell by 4.7%, these traditional industries are actually to production capacity, the short term to produce a downward pressure on industry. There is also a factor, pre-growth relatively fast, like cars, mobile phones in these industries, the market capacity has entered a period of adjustment.

Therefore, factors and domestic level factors superposition international level, increasing the downward pressure on the economy in the third quarter, which is very important reason third-quarter economic growth rate has come down.

As for how to look at the growth rate down to 7 percent or less, Sheng Yun believes that although the economic growth rate dropped slightly, but the fundamentals have not changed the overall smooth, steady and stable feed situation has not changed for the better. First of all, economic Run still reasonable range. Growth index, although somewhat lower, but still at about 7%. Employment indicators overall performance is good, the first three quarters of new jobs exceeded planned targets throughout the year. September survey unemployment rate is at about 5.2 percent, over the previous two months, a little rise slightly, mainly due to 8, September is the Chinese university graduates enter the labor market and the season, so increasing the pressure on the labor market to a certain extent, but mainly 25- 60-year-old employment survey unemployment rate was stable consumer prices 1 - September rose only 1.4 percent, and household income to maintain a rapid growth, faster than GDP, these indicators fully explain the current Chinese economy as a whole is still relatively smooth run and still in reasonable range.

Sheng to Win, said the trend of Chinese economy, but also its structure. Continue to optimize the industrial structure, promote industrial restructuring also continued outstanding performance in the service sector is still relatively fast growth, industrial structure from the original industry leading to Trend-led transformation services clearer tertiary industry GDP ratio reached 51.4% 49.5% higher than the first half of the nearly two percentage points higher than the same period last year 2.3 percentage points, to adjust the structure of this industry is steadily advance.

In addition, the transformation and upgrading of momentum is also very good. In the central push a series of 'public entrepreneurship, the highly innovative' policy, China's new industries, new formats, new products, new economy, a new impetus is relatively fast growth, accelerate breeding 1 - September, online retail sales growth was around 36%, almost 40% of new products such as new energy vehicles are doubling in the industrial structure, 1 - September high-tech industrial added value growth rate still reached 10.4%, 4.2 percentage points higher than the growth rate of above-scale industries, which are described, upgrading of industrial structure in China accelerated.

Sheng Yun pointed out that the situation described above, in the new normal economy, the growth rate shift, structural optimization, power conversion, are orderly manner, which also shows the adjustment in line with the law, in line with the direction of the transformation and development in line with expectations. So The overall development trend of China's economy has not changed.


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