China's GDP Up 6.1%, Added Value of Industrial Enterprises up 5.1% in 1Q09

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Researched by Industrial Info Resources (Sugar Land, Texas)--In the first quarter of 2009, China's gross domestic product (GDP) reached $966.84 billion, an increase of 6.1% year over year, but the country's growth rate lowered 4.5 percentage points year over year, according to the Instant Statistic Report of the National Bureau of Statistics of China on April 17, 2009.

Click on image at right for a breakdown of China's major industrial indicators in 1Q09.

From January through March 2009, the added value of industrial enterprises with annual sales income of more than $730 thousand (5 million yuan) in China received a year-over-year rise of 5.1%, which was 11.3 percentage points lower than the same period of the previous year. The growth of added value was up 3.8% from January to February and 8.3% in March. Within this growth, light industry reported an increase of 6.8% year over year, while heavy industry reported an increase of 4.5% year over year. Analyses of different types of enterprises showed that the value added to state-owned and state-holding enterprises rose 0.1%; that of collective enterprises rose 3.5%; that of share-holding enterprises rose 7.7%; and enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan rose 1.4%.

Within different sectors, 33 of 39 major industries maintained growth in the first quarter of 2009:

• textiles up 6.1%
• manufacture of chemical raw materials and products up 3.7%
• manufacture of non-ferrous metal ores up 10.8%
• manufacture of transport equipment up 2.8%
• manufacture of electrical machinery and equipment up 9.5%
• manufacture of special purpose machinery up 6.8%
• production and supply of electric power and heat power up 1.5%
• manufacture of communication equipment, computer and other electronic equipment down 5.3%.

In the first quarter of 2009, the sales ratio of industrial products reached 97.07%, a drop of 0.72 percentage point year over year. Industrial enterprises achieved a total export delivery value of $213.66 billion, a drop of 16.0% year over year.

In the first quarter of 2009:

• the output of coal reached 600 million metric tons, an increase of 6.3%
• the output of crude oil was 50 million metric tons, a drop of 1.6%
• electricity output was 779.7 billion kilowatt-hours a drop of 2.0%
• the output of iron was 122.38 million metric tons, up 4.3%
• crude steel proudction was 127.44 million metric tons, up 1.4% year over year
• the output of steel products reached 144.73 million metric tons, up 2.8% year over year
• the output of cement reached 280 million metric tons, an increase of 12.9%
• 2.67 million automobiles were produced, an increase of 3.7%, including 1.36 million sedans, a drop of 0.3% year over year.

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