< img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=2433975083660159&ev=PageView&noscript=1" />

China's GDP will exceed 126 trillion yuan in 2023, a year-on-year increase of 5.2%

Source: Sinochem New Network
88,834
January 18, 2024, 10:36 AM
According to preliminary calculations, China's GDP for the whole year is 126.0582 trillion yuan, an increase of 5.2 percent over the previous year at constant prices, according to data released by the National Bureau of Statistics on January 17.
First, grain output reached a new high, and animal husbandry production increased steadily. The country's total grain output for the whole year was 695.41 million tons, an increase of 8.88 million tons, or 1.3 percent, over the previous year. The annual output of pig, beef, mutton and poultry was 96.41 million tons, an increase of 4.5 percent over the previous year.
Second, industrial production has rebounded steadily, and the equipment manufacturing industry has grown relatively fast. For the whole year, the added value of industries above the national scale increased by 4.6% over the previous year. The added value of the equipment manufacturing industry increased by 6.8%, which is 2.2 percentage points faster than that of industries above scale.
Third, the service industry has grown rapidly, and the contact agglomeration service industry has significantly improved. The added value of the service industry for the whole year increased by 5.8% over the previous year. The value added of accommodation and catering, information transmission, software and information technology services, leasing and business services, transportation, warehousing and postal services, finance, wholesale and retail increased by 14.5%, 11.9%, 9.3%, 8.0%, 6.8% and 6.2%, respectively.
Fourth, market sales recovered relatively quickly, and service consumption grew rapidly. Retail sales of consumer goods totaled 47.1495 trillion yuan, an increase of 7.2 percent over the previous year. According to the type of consumption, retail sales totaled 41.8605 trillion yuan, up 5.8 percent, and catering income totaled 5.289 trillion yuan, up 20.4 percent. Online retail sales nationwide totaled 15.4264 trillion yuan, an increase of 11.0 percent over the previous year.
Fifth, the scale of investment in fixed assets has increased, and investment in high-tech industries has increased better. For the whole year, investment in fixed assets (excluding farmers) totaled 50.3036 trillion yuan, an increase of 3.0 percent over the previous year; after deducting the influence of price factors, it increased by 6.4 percent. Investment in high-tech industries increased by 10.3%, 7.3 percentage points faster than total investment.
VI. Imports and exports of goods are generally stable, and the trade structure continues to be optimized. the total volume of imports and exports of goods in the whole year was 41.7568 trillion yuan, an increase of 0.2 percent over the previous year. Imports and exports of private enterprises increased by 6.3 percent, accounting for 53.5 percent of the total import and export volume, an increase of 3.1 percentage points over the previous year.
7. Consumer prices rose slightly, and the core CPI was generally stable. For the whole year, consumer prices (CPI) rose 0.2 percent over the previous year. Core CPI, excluding food and energy prices, rose 0.7 per cent.
VIII. The overall employment situation is stable, and the unemployment rate in urban surveys dropped. The average unemployment rate in urban surveys in the whole year was 5.2 percent, down 0.4 percentage points from the previous year.
9. Residents' income continued to increase, and the income of rural residents grew faster than the annual per capita disposable income of urban residents of 39218 yuan, an increase of 6.3 percent in nominal terms over the previous year, and 6.1 percent in real terms after deducting price factors. According to the place of permanent residence, the per capita disposable income of urban residents was 51821 yuan, an increase of 5.1% in nominal terms over the previous year, and 4.8% in real terms after deducting the price factor. The per capita disposable income of rural residents was 21691 yuan, an increase of 7.7% in nominal terms over the previous year, and 7.6% in real terms after deducting the price factor.
10. the total population has decreased, and the urbanization rate has continued to increase at the end of the year (including the population of 31 provinces, autonomous regions, municipalities directly under the Central Government and servicemen on active duty, excluding Hong Kong, Macao and Taiwan residents and foreigners living in 31 provinces, autonomous regions and municipalities directly under the Central Government) 1.40967 billion, a decrease of 2.08 million compared with the end of last year. In terms of the composition of urban and rural areas, the urban resident population was 932.67 million, an increase of 11.96 million over the end of last year; the rural resident population was 477 million, a decrease of 14.04 million; and the proportion of the urban population in the national population (urbanization rate) was 66.16 percent, an increase of 0.94 percentage points over the end of last year. Source: Sinochem New Network