China's third quarter GDP grew by 6.7% year-on-year. The growth rate is the same as the previous two quarters.

Summary This year, the grim face of complex domestic and international situation, all localities and departments under the strong leadership of the CPC Central Committee and the State Council, conscientiously implement the new concept of development, actively adapt to lead the development of the new normal, adhere to progress while maintaining stability overall tone of the work , moderately expand the total demand, unwavering...
Since the beginning of this year, in the face of complex and severe domestic and international situations, all regions and departments, under the strong leadership of the Party Central Committee and the State Council, have conscientiously implemented the new development concept, actively adapted to lead the new normal of development, and adhered to the general tone of steady progress. We will moderately expand aggregate demand, unswervingly push forward supply-side structural reforms, guide good development expectations, and accelerate the cultivation of new kinetic energy. The national economy is generally stable, stable, and stable, and better than expected.
According to preliminary calculations, the GDP in the first three quarters was 529.971 billion yuan, which was 6.7% higher than the same period of last year. In the quarter, the first quarter increased by 6.7%, the second quarter increased by 6.7%, and the third quarter increased by 6.7%. In terms of industries, the added value of the primary industry was 4,066.6 billion yuan, up 3.5% year-on-year; the added value of the secondary industry was 2,091.5 billion yuan, up 6.1%; the added value of the tertiary industry was 279.89 billion yuan, up 7.6%. From the ring, the GDP in the third quarter increased by 1.8%.

First, agricultural production is basically stable, and the growth of autumn grain is better.
The total output of summer grain in the country was 139.26 million tons, a decrease of 1.62 million tons from the previous year, down 1.2%, which is the second highest production year in history. The total output of early rice was 32.78 million tons, a decrease of 910,000 tons from the previous year, down 2.7%; autumn grain is expected to have a good harvest. In the first three quarters, the output of pig, beef, sheep and poultry was 58.33 million tons, down 1.1% year-on-year, of which pork production was 36.9 million tons, down 3.6%. The number of live pigs was 43,163 million, a decrease of 3.4% year-on-year; the number of live pigs was 479.24 million, a decrease of 3.7%.

Second, industrial production is running smoothly, and corporate benefits are significantly improved.
In the first three quarters, the added value of industrial enterprises above designated size increased by 6.0% year-on-year at comparable prices, and the growth rate was flat with the first half of the year. In terms of economic types, the value-added of state-owned holding enterprises increased by 1.0% year-on-year, collective enterprises increased by 0.7%, joint-stock enterprises increased by 6.9%, and foreign-invested enterprises from Hong Kong, Macao and Taiwan increased by 4.2%. In terms of three categories, the added value of the mining industry fell by 0.4% year-on-year, the manufacturing industry grew by 6.9%, and the electricity, heat, gas and water production and supply industries grew by 4.3%. The industrial structure continues to be optimized. In the first three quarters, the added value of high-tech industries and equipment manufacturing industry increased by 10.6% and 9.1% respectively, the growth rate was 4.6 and 3.1 percentage points faster than that of industrial enterprises above designated size, and the proportion of industrial added value above designated size was 12.2% and 32.6% respectively. , an increase of 0.6 and 1.2 percentage points over the same period last year. The production and sales rate of industrial enterprises above designated size reached 97.5%. The export delivery value of industrial enterprises above designated size reached 855.9 billion yuan, a year-on-year decrease of 0.1%. In September, the added value of industrial enterprises above designated size increased by 6.1% year-on-year and 0.47% quarter-on-quarter.
From January to August, the total profits of industrial enterprises above designated size reached 405.84 billion yuan, up 8.4% year-on-year, 2.2 percentage points faster than the first half. Among them, the increase in August was 19.5%, 8.5 percentage points higher than the previous month. The cost per 100 yuan of main business income of industrial enterprises above designated size is 85.87 yuan, and the profit rate of main business income is 5.66%.

3. The growth rate of fixed asset investment slowed down and stabilized, and the area of ​​commercial housing sold continued to decrease.
In the first three quarters, the country's fixed asset investment (excluding farmers) was 4,269.6 billion yuan, a nominal increase of 8.2% year-on-year (excluding the actual increase of 9.5% in price factors), and the growth rate dropped 0.8 percentage points from the first half, but July, August and 9 Investment in the month of the month increased by 3.9%, 8.2% and 9.0% respectively, and the growth rate accelerated for two consecutive months. State-owned holding investment was 1,151.17 million yuan, up 21.1%; private investment was 2,199.3 billion yuan, up 2.5%, 0.4 percentage points faster than that in January-August, accounting for 61.4% of all investment. In terms of industries, the investment in the primary industry was 1,340.2 billion yuan, up 21.8% year-on-year; the investment in the secondary industry was 1,679.7 billion yuan, up 3.3%; the investment in the tertiary industry was 2,460.8 billion yuan, up 11.1%, of which the investment in infrastructure was 83.425 billion yuan, an increase. 19.4%. In the first three quarters, fixed assets investment reached 442.28 billion yuan, a year-on-year increase of 5.9%. The total investment for the newly started project is 367.63 billion yuan, an increase of 22.6%. From a ring comparison, fixed asset investment (excluding farmers) increased by 0.52% in September.
In the first three quarters, the national real estate development investment was 745.98 billion yuan, a nominal increase of 5.8% year-on-year (a real increase of 7.1% after deducting the price factor). The growth rate dropped 0.3 percentage points from the first half of the year and 0.4 percentage points faster than that in January-August. Among them, residential investment increased by 5.1%. The newly started housing area was 122.655 million square meters, a year-on-year increase of 6.8%, of which the newly started residential area increased by 6.7%. The sales area of ​​commercial housing nationwide was 105.185 million square meters, an increase of 26.9% year-on-year, of which residential sales area increased by 27.1%. The sales of commercial housing in the country was 820.08 billion yuan, a year-on-year increase of 41.3%, of which residential sales increased by 43.2%. The land acquisition area of ​​real estate development enterprises was 149.17 million square meters, down 6.1% year-on-year. At the end of September, the national commercial housing sales area was 69.612 million square meters, a decrease of 18.04 million square meters from the end of June. In the first three quarters, the funds for real estate development enterprises reached 1,071.1 billion yuan, a year-on-year increase of 15.5%.

Fourth, market sales have risen steadily, and consumption upgraded goods have grown faster.
In the first three quarters, the total retail sales of consumer goods reached 238.482 billion yuan, a nominal increase of 10.4% year-on-year (the actual increase of 9.8% after deducting the price factor), and the growth rate was 0.1 percentage points faster than the first half. Among them, the retail sales of consumer goods above designated size was 1,083.4 billion yuan, an increase of 7.8%. According to the location of the business unit, the retail sales of urban consumer goods reached 2,049.4 billion yuan, a year-on-year increase of 10.3%, and the retail sales of rural consumer goods was 335.42 billion yuan, an increase of 10.9%. According to the type of consumption, catering revenue was 25,614 million yuan, up 11.0% year-on-year, and retail sales of goods were 2,186.8 billion yuan, up 10.3%, of which retail sales of units above designated size were 1,107.8 billion yuan, up 7.9%. Communications and residential goods grew rapidly, communications equipment grew by 12.7%, furniture grew by 13.9%, and construction and decoration materials increased by 15.4%. In September, the total retail sales of consumer goods increased by 10.7% year-on-year (the actual increase of 9.6% after deducting the price factor), which was 0.1 percentage points higher than the previous month and 0.85% higher than the previous month.
In the first three quarters, the national online retail sales amounted to 346.51 billion yuan, a year-on-year increase of 26.1%. Among them, the online retail sales of physical goods amounted to 279 billion yuan, an increase of 25.1%, accounting for 11.7% of the total retail sales of consumer goods.

5. The decline in import and export has narrowed, and the proportion of general trade has increased.
In the first three quarters, the total volume of imports and exports was 1,753.18 billion yuan, down 1.9% year-on-year. The decline was 1.7 percentage points lower than that of the first half of the year. Among them, exports were 100.85 billion yuan, down 1.6%, narrowing by 1.1 percentage points; imports were 747.33 billion yuan, down 2.3. %, narrowed by 2.4 percentage points. The import and export offset, the surplus was 2,855.2 billion yuan. In September, the total volume of imports and exports was 2,167.9 billion yuan, down 2.4% year-on-year; of which, exports were 12,231 billion yuan, down 5.6%; imports were 94.48 billion yuan, up 2.2%. Trade structure optimization. In the first three quarters, the import and export of general trade accounted for 56% of the total import and export volume, an increase of 1.1 percentage points over the same period of the previous year; the export of mechanical and electrical products accounted for 57% of the total export value, which was the main export; the export of private enterprises increased by 2.3%, accounting for the export. 46.5% of the total, continue to maintain the top export share. Exports to some countries along the Belt and Road increased, with exports to Pakistan, Russia, Poland, Bangladesh and India increasing by 14.9%, 14%, 11.7%, 9.6% and 7.8% respectively in the first three quarters. Imports of some bulk commodities continued to grow. Imports of iron ore in the first three quarters were 763 million tons, up 9.1%; crude oil was 284 million tons, up 14%; coal was 180 million tons, up 15.2%; copper was 3.79 million tons, up 11.8%.

6. The consumer price rise was moderate, and the industrial producer’s ex-factory price turned from negative to positive.
In the first three quarters, consumer prices rose by 2.0% year-on-year, and the growth rate dropped by 0.1 percentage points from the first half of the year. Among them, the city rose by 2.0%, and the rural area rose by 1.8%. In terms of categories, food and tobacco prices rose by 4.1% year-on-year, clothing rose by 1.5%, housing rose by 1.5%, household goods and services rose by 0.5%, transportation and communications fell by 1.8%, education, culture and entertainment rose by 1.4%, and health care rose by 3.6. %, other supplies and services rose 2.4%. In the price of food, tobacco and alcohol, the price of food rose by 0.5%, the price of pork rose by 21.2%, and the price of fresh vegetables rose by 12.3%. In September, consumer prices rose by 1.9% year-on-year and 0.7% quarter-on-quarter. In the first three quarters, the ex-factory price of industrial producers decreased by 2.9% year-on-year, and the decline was 1.0 percentage point lower than that of the first half of the year; in September, it rose by 0.1% year-on-year, ending the year-on-year decline of 54 months, up 0.5% from the previous month. In the first three quarters, the purchase price of industrial producers fell by 3.8% year-on-year, and fell by 0.6% year-on-year in September, up 0.4% from the previous month.

7. Residents’ income has grown steadily
In the first three quarters, the per capita disposable income of the national residents was 17,735 yuan, a nominal increase of 8.4% year-on-year, and a real increase of 6.3% after deducting the price factor. According to the permanent residence, the per capita disposable income of urban residents was 25,337 yuan, a nominal increase of 7.8% over the same period of last year, and the actual increase of 5.7% after deducting the price factor; the per capita disposable income of rural residents was 8,998 yuan, a nominal increase of 8.4% over the same period of last year, and a real increase of 6.5% after deducting the price factor. . The per capita income difference between urban and rural residents was 2.82, which was 0.01 less than the same period of the previous year. The median per capita disposable income of the national residents was 15,626 yuan, a nominal increase of 8.1% year-on-year. At the end of the third quarter, the total number of migrant workers in rural areas was 176.49 million, an increase of 950,000, an increase of 0.5%. In the third quarter, the average monthly income of rural migrant workers was 3,232 yuan, a year-on-year increase of 5.9%.

8. The supply-side structural reform has made positive progress, and the quality and efficiency of development have steadily improved.
"Three to one, one drop and one supplement" has achieved practical results. In the first three quarters, raw coal production fell by 10.5% year-on-year. Inventories of industrial enterprises and commercial housing continued to decrease. At the end of August, inventories of finished products of industrial enterprises above designated size fell by 1.6% year-on-year, and have declined for the fifth consecutive month since April. The area for sale of commercial housing has decreased for seven consecutive months since March. The asset-liability ratio and cost of industrial enterprises have all declined. At the end of August, the asset-liability ratio of industrial enterprises above designated size was 56.4%, down 0.6 percentage points from the same period of the previous year. From January to August, the cost per 100 yuan of main business income of industrial enterprises above designated size decreased by 0.17 yuan over the same period of the previous year. In the first three quarters, the investment in ecological protection and environmental management, water management, agriculture, forestry, animal husbandry and fishery increased by 43.4%, 20.5% and 20.1% respectively, which was faster than the total investment of 35.2, 12.3 and 11.9 percentage points respectively.
The industrial structure continues to escalate. In the first three quarters, the added value of the tertiary industry accounted for 52.8% of the GDP, an increase of 1.6 percentage points over the same period of the previous year and 13.3 percentage points higher than the secondary industry. The demand structure continues to improve. In the first three quarters, the contribution rate of final consumption expenditure to GDP growth was 71.0%, an increase of 13.3 percentage points over the same period of the previous year. The new economy is growing rapidly. In the first three quarters, strategic emerging industries grew by 10.8% year-on-year, and the growth rate was 4.8 percentage points higher than that of industrial enterprises above designated size. The energy saving and consumption reduction effect is outstanding. In the first three quarters, the energy consumption per unit of GDP fell by 5.2% year-on-year. The proportion of clean energy consumption such as hydropower, wind power, nuclear power and natural gas accounted for 19.3%, an increase of 1.7 percentage points over the same period of the previous year.
In general, under the combined effect of moderately expanding aggregate demand and supply-side structural reform policies and measures, and guiding good development expectations, the national economy continued to maintain a stable, stable, and stable development trend in the first three quarters. . However, we must also see that China's economy is still at a critical stage of transformation and upgrading and kinetic energy transformation. Domestic factors and international factors are mutually influential, and there are still many uncertainties and uncertainties. The foundation for sustained economic development is still not solid. In the next stage, we must follow the "five in one" overall layout and the "four comprehensive" strategic layout, adhere to the new development concept with a new development concept, continue to unswervingly promote supply-side structural reforms, moderately expand aggregate demand, and scientifically coordinate We will promote growth, promote reform, adjust structure, benefit the people's livelihood, prevent risks, pay close attention to policy implementation, and strive to consolidate and strengthen positive changes to ensure the realization of the full-year target.

Note
(1) The gross domestic product, the added value of industrial enterprises above designated size and the growth rate of its classified items are calculated at comparable prices, which is the actual growth rate; other indicators, except for special instructions, are calculated at current prices and are nominal growth rates.
(2) According to the seasonal adjustment model, the results of automatic correction will be revised for the growth rate of GDP, industrial added value above designated size, fixed assets investment (excluding farmers) and total retail sales of social consumer goods in the past year. The revised results and the quarter-on-quarter GDP data for 2016 and the other indicators for September 2016 are as follows:
The growth rate of GDP in the first quarter of 2015 and the first, second and third quarters of 2016 was 1.6%, 1.9%, 1.7%, 1.6%, 1.2%, 1.9% and 1.8% respectively.
(3) Industrial statistics above designated size are industrial enterprises with annual main business income of 20 million yuan and above.
(4) The total retail sales of social consumer goods refers to the wholesale enterprises (units) with a main business income of 20 million yuan or more, retail enterprises (units) of 5 million yuan or more, and 2 million yuan and above. Accommodation and catering business (unit).
Online retail sales refer to the sum of retail sales of goods and services through public online trading platforms, including self-built websites and third-party platforms. Goods and services include physical goods and non-physical goods (such as virtual goods, service goods, etc.).
The total retail sales of social consumer goods includes online retail sales of physical goods, excluding online retail sales of non-physical goods.
(5) The median per capita disposable income of the national residents refers to the per capita disposable income of all the survey households ranked in the lowest order according to the per capita disposable income level.
(6) The rural migrant labor force refers to the rural labor force that is employed outside the township area where the household registration is located.
(7) Import and export data comes from the General Administration of Customs.
(8) Due to the rounding of some data, there is a case where the total and the total of the sub-items are different.

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