China’s GDP growth made 6.7% in the first quarter of this year
Almaty. April 15. Silkroadnews – China’s GDP growth made 6.7% in the first quarter of this year, Xinhua news agency reports.
“According to preliminary data of China’s National Bureau of Statistics, the gross domestic product in January-March 2016 amounted to 15 trillion 852.6 billion yuan. In comparable prices the indicator shows 6,7% increase versus the same period of 2015,” the publication said on Friday.
The official representative of the bureau said, “national economy made a good start and continues to show a positive trend”.
Thus, over the first quarter the added value created in agriculture, industry and services made 880.3 billion, 5 trillion 951 billion and 9 trillion 21.4 billion yuan, with growth of 2.9%, 5,8% and 7.6% respectively. The GDP growth of the country during the first three months totaled 985.1 billion yuan, which is 22.2 billion yuan higher compared to the same period last year.
The agricultural production remained stable. According to the survey conducted among 110 thousand farmers, this year the estimated rice-growing area in the country will increase by 0.3%, for wheat will also increase by 0.4%, while for corn and for cotton will be reduced by 0.9% and 18.8% respectively. In January-March the volume of production of pork, beef, mutton and poultry decreased by 3.1% to 22.44 million tons.
In addition, during this period of time the added value created by the country’s major industrial enterprises increased by 5.8% in comparable prices. The growth rate fell by 0.3 percentage points versus the index for the entire 2015, though gained 0.4 percentage points versus January-February 2016.
Within the first three months of 2016 China experienced the production structure optimization. The service industry’s share in GDP reached 56.9%, which is 2.0 percentage points higher compared to the same period 2015. Another achievement was observed in energy efficiency area. The amount of energy consumption per unit of GDP fell by 5.3% on a year-on-year basis.
