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The economic development of high-speed development further improved
Under the circumstances of weak global economic performance and complex internal and external environment, China’s economy has maintained an increase of 10.4% in the first half of this year, and continues to be the main driving force for stimulating world economic growth.
Experts pointed out that relative to the high growth of 11% to 12% last year, the fall in China’s economic growth means that the risk of overheating in China’s economy has been partially released and the Chinese economy has entered a reasonable range of growth. At the same time, the quality of China’s economic development has further improved, financial revenue continues to grow at a high rate, industrial enterprises’ profits have been maintained, and incomes of urban and rural residents have also maintained rapid growth.
According to the latest statistics from the Ministry of Finance, national fiscal revenue from January to August this year reached 4.47 trillion yuan, an increase of 28.4% over the same period of last year. The growth of fiscal revenue is mainly due to the fact that China’s economy has maintained a steady and relatively fast operation, and it also provides conditions for the full play of fiscal policy in macroeconomic regulation and control.
Statistics show that major economic indicators, such as industrial added value, total retail sales of social consumer goods, profits realized by enterprises, and total import and export, which are highly related to fiscal revenue, have grown rapidly and are the economic basis for fiscal revenue, which has led to the increase in value-added tax. The rapid increase in corporate income tax and import taxation.
Economic growth is the basis of fiscal revenue. In recent years, the rapid development of various industries in China, a large number of fixed assets investment has begun to form a production capacity, coupled with the timely adjustment of economic structure, has laid a good foundation for China's fiscal revenue into the "harvest period." Fiscal revenue growth provides an opportunity for fiscal policy to further incline for the people's livelihood, strengthen support for education and social security, and provide greater space. It also effectively protects the needs of disaster relief, post-disaster recovery and reconstruction, and various key expenditures.
While achieving rapid growth in fiscal revenue, another major highlight of China's national economy is the performance of a bumper harvest of grain and oil in the summer and a bumper autumn harvest. This year, China's summer grain output has reached 120.41 million tons, an increase of 3.04 million tons over the previous year, an increase of 2.6%. This is due to the increase in the price of agricultural materials and the frequent occurrence of natural disasters. China's summer grain production has been increasing for the fifth consecutive year.
More optimized economic structure, more balanced development
Since the beginning of this year, China’s economy has maintained a steady and relatively rapid growth momentum, but some new difficulties and challenges have also emerged. In particular, the global financial market turmoil caused by the US subprime mortgage crisis, the slowdown in world economic growth, and the contraction of external demand have given Some export-oriented export companies have a great influence.
It is worth noting that in the face of the pressure of development, more and more companies are trying to overcome difficulties in weakening external demand and rising costs by adjusting the industrial structure and accelerating the transformation of traditional industries.
The data shows that China’s trade structure is undergoing positive changes. In the first eight months of this year, China’s cumulative trade surplus was US$151.99 billion, a year-on-year decrease of 6.2%. Exports of traditional bulk commodities such as textiles, clothing and footwear showed signs of slowing growth; however, exports of mechanical and electrical products and high-tech products showed a good growth. Exports from January to August rose by 24.7% and 21.3% respectively year-on-year.
From January to July, China's high-tech manufacturing industry increased by 17.5%, an acceleration of 0.4% year-on-year, 1.4% higher than the growth rate of all above-scale industries. According to comparable prices, the proportion of high-tech manufacturing industries in all above-scale industries was 10%, an increase of 0.1 percentage points year-on-year.
At the same time, the decline in the production growth rate of “two-high-funded†products also shows the positive effect of industrial restructuring and upgrading. From January to July, China’s six high-energy-consuming industries increased by 14.4%, and the growth rate was down 5.3% year-on-year, 1.7 percentage points lower than the growth rate of all above-scale industries. Comparably calculated, the proportion of high-energy-consuming industries in all above-scale industries was 32.3%, down 0.5% year-on-year.
The relevant person in charge of the Ministry of Finance said that since the beginning of this year, the Ministry of Finance has issued a series of policy measures to continue to support enterprises in enhancing their independent innovation capabilities and promote the upgrading and restructuring of mechanical and electrical and high-tech industries. At the same time, actively guide SMEs to change the growth mode. The scale of funds used by the central government to support the development of SMEs this year will reach 3.5 billion yuan, an increase of 20.3% over the previous year.
Economic benefits continue to increase, future growth is still optimistic
Since the beginning of this year, due to the influence of domestic and foreign market factors, pressures such as rising costs of raw materials, energy, and labor have brought challenges to China's industrial and corporate production. However, in spite of this, from January to August this year, China’s industrial enterprises above designated size still achieved profits of 1,868.5 billion yuan, a year-on-year increase of 19.4%, industrial growth value increased by 12.8%, and total retail sales of consumer goods increased by 21.9%. The total volume of imports and exports increased by 25.7% year-on-year.
Data from the Ministry of Finance shows that in the first seven months of this year, the total operating income of state-owned enterprises across the country totaled 12.2 trillion yuan, a year-on-year increase of 27.1%; and the profit reached 873.69 billion yuan, a year-on-year increase of 1.5%. Among them, the accumulated profits of the central SOEs totaled 609.05 billion yuan, a year-on-year decrease of 5.6%; and the local state-owned enterprises accumulated profits of 264.63 billion yuan, a year-on-year increase of 22.7%.
The director of the SASAC, Li Rongrong, said that since the beginning of this year, the central government has calmly responded to various complex situations and pushed forward all kinds of work such as production and operation. The overall development quality has been upgraded, operating income growth has accelerated, and income growth has been better than expected. In response to the severe situation of rising energy raw materials and rising labor costs, the central enterprises have intensified their management, reduced expenditures, and strived to realize cost reduction and efficiency gains.
However, in the face of achievements, analysts pointed out that the economic situation at present and for a period of time in the future is not optimistic. From an external perspective, the international economic environment has become more complex, financial turmoil has intensified, and the economy has slowed down. Internally, the pressure on domestic prices is still high, the agricultural foundation is still weak, and some industries and enterprises have difficulties in production and operation. There are also many financial sectors. Hidden danger.
In response, Premier Wen Jiabao stated at the 2008 Summer Davos Forum in Tianjin that there are many favorable conditions for maintaining the sustained and rapid growth of the Chinese economy. China is in the stage of rapid industrialization and urbanization and has great economic growth potential. For a relatively long period to come, China's development is still in an important period of strategic opportunities.
Schwab, chairman of the World Economic Forum, believes that the rapid economic growth in China has played a crucial role in the current global economic environment. "Even if the world economy slows down, China's economic growth will continue to be rapid. China will become the dominant force in the future global economic growth."
China's economic growth is still promising
The difficulties encountered by China in 2008 did not change the fundamentals of China’s economic development. The Chinese economy is moving in the expected direction of macroeconomic regulation and control. Fiscal revenue and corporate profits have maintained rapid growth, and the quality and efficiency of development have further improved.