According to preliminary calculations, the gross domestic product in the first quarter was 657.45 billion yuan, calculated at comparable prices, up 6.1% year-on-year, down 4.5 percentage points from the same period of the previous year. Among them, the added value of the primary industry was 470 billion yuan, an increase of 3.5%; the added value of the secondary industry was 318.6 billion yuan, an increase of 5.3%; the added value of the tertiary industry was 2,077.7 billion yuan, an increase of 7.4%.
1. Agricultural production started well and the area planted with grain increased. It is estimated that the national grain sown area will be 108.14 million hectares in the whole year, an increase of 1.35 million hectares over the previous year, which has increased for six consecutive years. Among them, the summer grain area is 27.16 million hectares, an increase of 340,000 hectares; the early rice area is 5.86 million hectares, an increase of 150,000 hectares; the autumn grain area is 75.12 million hectares, an increase of 860,000 hectares. The overall growth of winter wheat is good, and the proportion of first and second seedlings reaches 82.5%. In the first quarter, the output of pig, beef and mutton was 16.15 million tons, an increase of 6.0% over the same period of the previous year.
2. The growth of industrial production has stabilized, and the overall profit of enterprises has declined. In the first quarter, the added value of industrial enterprises above designated size increased by 5.1% year-on-year, and the growth rate dropped by 11.3 percentage points over the same period of the previous year. Among them, the increase in January and February was 3.8%, and in March, it was 8.3%. In terms of economic types, state-owned and state-controlled enterprises increased by 0.1%, collective enterprises increased by 3.5%, joint-stock enterprises increased by 7.7%, and foreign-invested enterprises from Hong Kong, Macao and Taiwan fell by 1.4%. In terms of light and heavy industries, heavy industry increased by 4.5% and light industry increased by 6.8%. In terms of industries, among the 39 major industries, 33 industries maintained growth and 6 industries declined. In terms of regions, the eastern region grew by 3.7%, the central region by 5.2%, and the western region by 11.8%. Industrial production and sales are in good condition. In the first quarter, the sales rate of industrial products was 97.07%.
In the first two months of this year, the profits of industries above designated size reached 219.1 billion yuan, a year-on-year decrease of 37.3%. Among the 39 industrial categories, 23 industries saw a decline in profits and 4 industries suffered losses. However, some industries still maintain growth or turn losses into profits. The textile and garment industry achieved a profit growth of 15.6%, the furniture manufacturing industry grew by 24.7%, and the petroleum processing and coking industry turned from a net loss of 19.4 billion yuan in the same period last year to a profit of 11.7 billion yuan.
3. The growth of fixed asset investment has accelerated and the investment structure has improved. In the first quarter, the fixed assets investment of the whole society was 281.29 billion yuan, a year-on-year increase of 28.8%, an increase of 4.2 percentage points over the same period of the previous year. Among them, the urban fixed assets investment was 2,356.2 billion yuan, an increase of 28.6% (up 30.3% in March), an acceleration of 2.7 percentage points; rural fixed assets investment was 456.7 billion yuan, an increase of 29.4%, an acceleration of 11.1 percentage points. In urban fixed asset investment, primary industry and tertiary industry investment grew faster than secondary industry, and tertiary industry investment increased by 85.0%, 26.8% and 29.1% respectively. In terms of regions, investment growth in the central and western regions was significantly faster than in the east, with urban investment increasing by 19.8% in the eastern region, 34.3% in the central region, and 46.1% in the western region.
4. Sales in the domestic market grew steadily and rapidly, and sales in the county and sub-county markets were faster than cities. In the first quarter, the total retail sales of consumer goods reached 2,939.8 billion yuan, up 15.0% year-on-year (up 14.7% in March). After deducting the price factor, the actual growth rate was 15.9%, up 3.6 percentage points year-on-year, and 1.1 percentage points higher than the previous year. Among them, the retail sales of urban consumer goods reached 198.4 billion yuan, an increase of 14.1%; the retail sales of consumer goods at and below the county level was 956.4 billion yuan, an increase of 17.0%. In the wholesale and retail trade above designated size, the retail sales of furniture increased by 24.1% year-on-year, the construction and decoration materials increased by 20.2%, and the automotive category increased by 11.1%.
5. Consumer prices have fallen year-on-year, and the ex-factory price of industrial products has decreased. In the first quarter, consumer prices fell by 0.6% year-on-year (down 1.2% year-on-year in March and 0.3% quarter-on-quarter). Among them, the city fell by 0.9%, and the rural areas were flat. In terms of categories, food prices rose by 0.5%, tobacco, alcohol and supplies rose by 2.0%, household equipment and maintenance services rose by 2.1%, health care and personal products rose by 1.3%, clothing fell by 2.4%, and transportation and communications fell by 2.7%. Education and cultural goods and services fell by 0.5%, and residence fell by 2.9%. In the first quarter, retail prices of commodities fell by 0.8% year-on-year (down 1.5% year-on-year in March). The ex-factory price of industrial products fell by 4.6% year-on-year, and the month-on-month decline was reduced month by month, with a decrease of 1.4% in January and a decrease of 0.7% in February and a decrease of 0.3% in March. The purchase price of raw materials, fuels and power decreased by 7.1% year-on-year (down 8.9% year-on-year in March). The sales price of homes fell by 1.1% year-on-year (down 1.3% year-on-year in March).
6. Foreign trade has fallen sharply, and the actual use of foreign direct investment has decreased. In the first quarter, the total volume of foreign trade imports and exports was 428.7 billion US dollars, down 24.9% year-on-year. Among them, exports were 245.5 billion US dollars, down 19.7%; imports were 183.2 billion US dollars, down 30.9%. The import and export offset, the surplus was 62.3 billion US dollars, an increase of 20.9 billion US dollars. China Nonferrous Network. In the first quarter, the actual use of foreign direct investment was 21.8 billion US dollars, a year-on-year decrease of 5.6 billion US dollars.
7. The number of new jobs in urban areas has decreased, and the income of urban and rural residents continues to grow. In January-February, the number of newly-employed people in urban areas was 1.62 million, a decrease of 210,000 compared with the same period of last year, and 18.0% of the annual target tasks were completed; 73,000 people were laid off and unemployed, and 14.2% of the annual target tasks were completed. People with employment difficulties re-employed 190,000 people and completed 19.0% of the annual target tasks. In the first quarter, the per capita disposable income of urban residents was 4,834 yuan, a year-on-year increase of 10.2%. After deducting the price factor, the actual increase was 11.2%. China Nonferrous Network. The per capita cash income of rural residents was 1,622 yuan, an increase of 8.6%. After deducting the price factor, the actual increase was 8.6%.
8. The growth of money and credit has accelerated and foreign exchange reserves have increased. At the end of March, the broad money supply (M2) balance was 53.1 trillion yuan, a year-on-year increase of 25.5%, 7.7 percentage points higher than the end of the previous year; the narrow money supply (M1) was 17.7 trillion yuan, an increase of 17.0%, an acceleration of 8.0 percentage points; Cash in circulation (M0) was 3,374.6 billion yuan, an increase of 10.9%, down 1.8 percentage points. The balance of various loans of financial institutions was 349.55 billion yuan, an increase of 458.12 billion yuan over the beginning of the year, an increase of 324.85 billion yuan over the same period of the previous year; At the end of March, the national foreign exchange reserve was 1,953.7 billion US dollars, an increase of 7.7 billion US dollars from the end of the previous year.
The main difficulty in the current national economic operation is that due to the impact of the international financial crisis, the decline in export demand is large, resulting in a decline in corporate profits, a decrease in fiscal revenue, an increase in employment difficulties, and a large downward pressure on the economy. In the next stage, we must continue to implement the scientific development concept in depth, follow the central government's decision-making on economic work, effectively implement the various policies and measures that have been promulgated, continuously improve macro-control policies, and strive to achieve steady and rapid development of the national economy.