China Issues Major Economic Indicators for October 2011

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Researched by Industrial Info Resources (Sugar Land, Texas)--In October, the total value added of the industrial enterprises in China with sales incomes above RMB 5 million yuan ($730,000) was up 13.2% year-on-year, or 0.6 percentage points lower than in September. From January through October, the total value added of the industrial enterprises above the designated size grew 14.1%, maintaining same level as in the first nine months of the year. In terms of month-on-month increase, the growth rate of the total value added of the industrial enterprises above designated size was 0.9% in October, according to the National Bureau of Statistics of China.

Analysis on different types of enterprises showed that in October, the year-on-year growth of state-owned and state-held enterprises rose 8.9%; collective enterprises, 9.2%; share-holding enterprises, 15.1%; and 9.6% growth for enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan.

The year-on-year growth of heavy industry in October was 13.7%, and 12.1% for light industry.

Grouped by different sectors, in October, all 39 industrial divisions maintained year-over-year growth:

• textile industry - up 8.1%
• manufacture of raw chemical materials and chemical products - up 13.1%
• manufacture of non-metallic mineral products - up 17%
• ferrous metal smelting and pressing sector - up 10.7%
• manufacture of general machinery - up 15.8%
• manufacture of transport equipment - up 11.3%
• manufacture of electric machinery and equipment - up 10.8%
• manufacture of communication equipment, computers and other electronic equipment - up 15.6%
• production and supply of electricity, gas and water - up 8.0%

In terms of different products, of the total 468 product categories, the output of 345 products in October showed year-over-year growth. Of this total, the output of electricity was 364 billion kilowatt-hours (kWh). Daily electricity output stood at 11.7 billion kWh, up 9.3%. Pig iron production was 73.07 million tons, daily output reached 2.36 million tons, up 13.4%; that of cement was 190.63 million tons, daily output reached 6.15 million tons, up 16.5%. Crude oil production was 278 million barrels; daily output reached 9 million barrels per day, down 0.9%. Production of 10 kinds of nonferrous metals was 2.90 million tons; daily output grew to 94,000 tons, up by 3.7%. Ethylene production was 1.24 million tons; daily output reached 40,000 tons, down 8.1%. Production of motor vehicles was 1.6 million sets; daily output reached 52,000 sets, up 1.3%. Car production reached 895,000 units; daily output totaled 29,000 sets, up 4.4%.

The sales ratio of industrial products in October was 97.8%, or 0.3 percentage points lower than that of the same period of last year. The total export delivery value of industrial enterprises was $137.82 billion, up 13.6% year over year.

In October, the consumer price index went up 5.5% year over year. Prices grew 5.4% in cities and 5.9% in rural areas. Food prices rose 11.9%, while non-food prices increased 2.7%. The prices of consumer goods went up 6.6%, and the prices of services increased 2.8%. In October, the month-on-month change of consumer prices was up 0.1%. Of which, prices in cities went up 0.1%, and rural prices remained at the same level. The food prices down by 0.2% while the non-food prices increased by 0.2%. The prices of consumer goods rose 0.1%, and the prices of services went up 0.2%.

In October 2011, the Producer Price Index (PPI) for manufactured goods declined 0.7% month-on-month, and increased 5.0% year over year. The PPI for manufactured goods dropped 0.7% month-on-month, but rose 8% year over year. From January through October 2011, the year-over-year PPI increased 6.8%, and the PPI for manufactured goods average surged 10.1%.

(Calculated based on the exchange rate of $1=CNY 6.5)

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