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China-ASEAN Free Trade Area Quarterly Report (Q2-2)

Post Time:2014-08-25 11:11:00

Ⅱ. China’s Economic and Trade Situation in the First Half of 2014

In the first half of 2014, China’s GDP registered a year-on-year rise of 7.4% to 26.9 trillion RMB. Growth rate of the first quarter was 7.4% and 7.55% of the second quarter.

In terms of industry, the primary industry has been witnessed an increase of 1.98 trillion RMB, a year-on-year increase of 3.9%. The secondary industry and the tertiary industry increased by 12.39 trillion RMB and 12.54 trillion RMB, a year-on-year increase of 7.4% and 8.0% respectively.

In the first six months of 2014, import-export value totaled 2.02 trillion USD, year-on-year rise of 1.2%. Out of which, export volume increased by 0.9% to 1.06 trillion USD; import volume increased by 1.5% to 959 billion USD, generating a surplus of 102.9 billion USD, a decline of 5.1%.

In terms of foreign direct investment, direct investment of Chinese investors into other countries totaled 43.34 billion USD, a year-on-year decline of 5%. By the end of June, the non-financial direct investment of Chinese investors in other countries totaled 569 billion USD. In the first half of 2014, investment of mainland China into Hong Kong, ASEAN, Europe, Australia, America, Russia and Japan totaled 28.82 billion USD, accounting for 66.5% of the total foreign direct investment with a decline of 4.2%.

In terms of investment in China, in the first half of 2014, the number of newly established enterprises in China by foreign businessmen totaled 10973, a year-on-year increase of 3.2%. Actual use of foreign capital reached 63.33 billion USD, a year-on-year increase of 2.2%. Ten countries or regions ranking top ten in terms of actual foreign investment are: Hong Kong, Taiwan, Singapore, Korea, Japan, America, Germany, Britain, France and the Netherlands. Their investment in China totaled 59.53 billion USD, accounting for 94% of actual use of foreign investment with a year-on year rise of 3.9%.

In terms of foreign contracting projects, in the first half of 2014, a turnover of 61.58 billion USD was accomplished, up 6.5% year-on-year; the value of newly signed project contracts stood at 81.04 billion USD, up 5.7% year-on-year.

To be continued

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