In 2002, under the
leadership of CPC Central Committee and the State Council,
and guided by the Teng Hsiao-Ping Theory and Important
Thought of "Three Represents", different regions
and departments implemented active fiscal policy and
moderate monetary policy,and aggressively advanced
strategic adjustment of economic structure. Reforms were
deepened, the level of opening to the outside world was
enhanced, domestic demand enjoyed a fast and sustained
growth, market economy order was distinctively improved, the
national economy held over a favorable development momentum,
and the expected targets of economic and social development
determined at beginning of the year had been realized.
I. National economy enjoyed a
fast and sustained growth, and the gross economy jumped up a
new step. In 2002, the GDP was expected to reach RMB 10,200
billions, a rise of 8.0% as compared with last year, and the
gross economy jumped up a new step and realized a historical
breach. In view of seasons, the GDP grew by 7.6% in the
first quarter, 8.0% in the second quarter, 8.1% in the third
quarter and this trend was kept in the fourth quarter, which
showed the further enhanced economic growth vitality.
II. Agricultural production
developed stably and agricultural structure adjustment
obtained distinct results. The planted area for high-
quality and special-purpose farm products was increased, and
primary farm products production was being centralized to
predominant producing areas. Regional layout was further
optimized, and the development of special agriculture and
ecological agriculture was quickened. Crop planting zones
and industry development zones with characteristics were
being formed. The annual grain output was 457,110 kilotons,
a rise of 1% as compared with last year; the cotton output
was somewhat dropped due to reduction of cultivation area;
the oil crops output grew by 1.2%, and the output of meat
and marine products remained a firm growth.
III. Industrial production
grew fast and enterprise efficiency was further improved.
Export-oriented products, high-tech products and consumption
products that met the requirements of consumption structure
upgrade kept a faster growth, which boosted the sustained
and fast growth of the whole industry. From January to
November, the above-scale industrial enterprises completed
an added value of RMB 2826.6 billions, a rise of 12.4% as
compared with the same period last year, and the growth rate
was 2.4% higher. It was expected that the added value of
above-scale industrial enterprises would exceed 3 trillions
in the whole year with a growth rate of more than 12%, the
fastest growth rate in the last few years. Of which, the six
major industries, namely electronic communication equipment,
transport and communication facilities, chemical industry,
electric machinery, metallurgy and textile, contributed more
than half to the industrial growth, their product mix was
improved and their competitive power was further
strengthened. The export value of shipment of industrial
products grew fast. In the first 11 months, an export value
of shipment of RMB 1765.6 billions was realized in
industrial enterprises, a rise of 22.3% as compared with the
same period last year, and the growth rate was 13.2% higher.
The profits realized by industrial enterprises kept growing
on the basis of three consecutive years of large scale
growth. From January to November, the above-scale industrial
enterprises realized a profit of RMB 495.6 billions, a rise
of 19.5% as compared with the same period last year, and it
was expected to reach RMB 550 billions for the whole year, a
rise of 20%; of which the state-owned and state-owned
proprietary enterprises realized a profit of RMB 232.7
billions, a rise of 10.2%, which was expected to exceed 250
billions for the whole year and would hit a record.
IV. Capital investment grew
fast and consumer market operated stably. From January to
November, state-owned units and units of other types of
economies completed a capital investment of RMB 2611.9
billions, a rise of 23.4% as compared with the same period
last year, and the growth rate was 7.1% higher, of which the
capital construction investment rose by 23.8%, renovation
and reformation investment rose by 15.7% and realty
development investment rose by 28.2%. Nongovernmental
investment also tended to be active. In the first three
quarters of this year, the collective and individual
investment rose by 18%, and the growth rate was 8.9% higher
than the same period last year. The market distribution rose
stably. From January to November, the total volume of retail
sales was RMB 3650.6 billions, a rise of 8.8% as compared
with the same period last year, and the growth rate was
10.3% after price factor was deducted, which was almost the
same as last year. Consumption concerns such as commercial
housing and automobiles were being formed initially. From
January to November, the sale of commercial housing rose by
37.1%, of which that was distributed to individuals rose by
90%; and the sale column of automobiles rose by 70.6%. It
was predicted that both whole-society fixed capital
investment and total column of retail sales of social
consumables shall breach 4 trillions.
V. Import and export in
foreign trade enjoyed a swift growth and foreign exchange
reserve was being increased. From January to November, the
total export-import volume was USD 560.2 billions, a rise of
21.0% as compared with the same period last year, and the
growth rate was 13.6 % higher, of which, that of export was
USD 293.7 billions, a rise of 21.6% and 15.2%
higher, and that of import was 266.5 billions, a rise of
20.5% and 11.9% higher. The yearly total export-import
volume was expected to breach USD 600 billions, and would
hit a new record. The scale of utilization of foreign
capital was being enlarged. From January to November, USD 48
billions of foreign direct investment was utilized, a rise
of 14.6% as compared with the same period last year. It was
predicted that over USD 50 billions of direct foreign
investment would be utilized yearly. Until the end of
November, the state foreign exchange reserve was USD 274.6
billions, 62.4 billions more than that at the end of last
year.
VI. The general price
level dropped a little and the income of urban and rural
citizens kept on growing. From January to November, the
general level of consumption price dropped 0.8 % as compared
with the same period last year, of which that in urban area
dropped by 1.0%, and that in rural area dropped by 0.4%. In
view of different categories, the food price dropped by
0.7%,of which that of grain dropped by 1.7%, that of
meat, poultry and their products dropped by 0.5%,that
of marine products dropped by 3.5%, that of fresh vegetables
dropped by 2.8%, and that of eggs rose by 3.1%, prices of
articles for recreation, education, culture and service rose
by 0.6%, and prices of other goods and services somewhat
dropped or kept the former status. From January to November,
the ex-factory price of industrial goods dropped by 2.5% as
compared with the same period last year, and the purchase
price of raw and processed materials, fuel and powers
dropped by 2.7%. The yearly disposable income of town
dwellers all over the country is expected to exceed RMB
7,500 Yuan in average, 10% more than that in last year; that
of rural dwellers shall reach 2,470 Yuan, 4% more than that
in last year. At the same time,the saving deposit of
urban and rural civilians grew fast, and the saving deposit
balance was RMB 8569.3 billions by the end of November,
1201.6 billions more than that at beginning of the year.
Looking forward to the year of
2003, Zhu Zhixin pointed out that the international
environment was full of uncertainties and domestic economy
development was confronted with quite a few contradictions
and problems, but there were more chances than challenges as
a whole and the national economy was hopeful to keep this
favorable development trend. Under the leadership of CPC
Central Committee with Hu Jintao as the Secretary-General,
we must hold high the great banner of Teng Hsiao-ping
Theory, and comprehensively carry out the Important Thought
of "Three Represents". We must earnestly implement
the spirit of the 16th CPC National Congress and Economic
Work Conference of the CPC Central Committee, and devote
ourselves wholly to construction and development. We must
actively react to difficulties and challenges brought along
by the changing economic environment both here and abroad,
stick to the policy of enlarging domestic demand,keep
the continuity and stability of macroeconomic policy,
further deepen reforms, enlarge openness, and promote the
fast, sustained and healthy development of national economy
and the overall advancement of the
society.
Source: China State Statistic Bureau
China's Economic Situation in 2002
2004-06-09 15:43