A look at China’s H1 economic data

China’s economic growth remained steady in the first half of 2019 despite headwinds, with a number of conditions supporting high-quality development, according to the National Development and Reform Commission (NDRC).

 

China’s GDP growth came in at 6.3 percent year-on-year in the first half of this year, meeting the government target of between six and 6.5 percent set for 2019.

 

1.CPI

In the first half of this year, China’s consumer price index, a measure of inflation, increased 2.2 percent compared with the same period last year, according to the NBS.

 

2.PPI

China’s producer price index, which measures costs for goods at factory gates, rose 0.3 percent year-on-year in the first half of 2019, according to NBS data.

 

In June, the index equaled the figure of the same period last year, with the expansion quickening by 1.3 percentage points from May to 6.3 percent.

 

3.PMI

The purchasing managers’ index for China’s manufacturing sector remained stable at 49.4 in June, equal to the figure for May.

 

4.Industrial output

China’s value-added industrial output expanded six percent year-on-year in the first half of 2019, down from 6.5 percent in the first quarter.

 

5.Fixed-asset investment

China’s fixed-asset investment grew 5.8 percent year-on-year in the first half of this year, 0.2 percentage points faster than the growth in the first five months.

 

6.Property investment

China’s real estate investment increased 10.9 percent year-on-year in the first half of this year, the NBS said. Growth was slower than the 11.8-percent expansion recorded in the first quarter and the 11.2-percent increase in the first five months.

Total property investment in the first half of this year amounted to 6.16 trillion yuan, with 73.3 percent flowing into residential housing.

 

7.Foreign trade

China’s total foreign trade volume reached 14.67 trillion yuan in the first half of the year, up 3.9 percent year-on-year, 0.2 percentage points faster than growth in the first quarter, according to China’s General Administration of Customs.

 

8.FDI

China’s foreign direct investment climbed 7.2 percent year-on-year to 478.33 billion yuan in the first half of 2019, according to the Ministry of Commerce. In US dollar terms, the amount stood at $70.74 billion, up 3.5 percent year-on-year.

 

9.Electricity consumption

China’s electricity consumption, a key barometer of economic activity, rose five percent year-on-year in the first half of 2019. Total power use hit 3.4 trillion kilowatt hours in the first half of the year.