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Published: 10:26, September 15, 2021 | Updated: 16:09, September 15, 2021
China's industrial output up 5.3% year-on-year in August
By Xinhua
Published:10:26, September 15, 2021 Updated:16:09, September 15, 2021 By Xinhua

This undated photo captures an employee assembling a wire harness at the workshop of Draexlmaier (Anshan) Wire Harness System Co in Anshan, Liaoning province. (PHOTO / XINHUA)

BEIJING - China's value-added industrial output, an important economic indicator, went up 5.3 percent year-on-year in August, data from the National Bureau of Statistics showed Wednesday.  

The figure was up 11.2 percent from the level in August 2019, bringing the average growth for the past two years to 5.4 percent, NBS data showed.

In the first eight months, China's industrial output gained 13.1 percent year-on-year, resulting in an average two-year growth of 6.6 percent

In the first eight months, industrial output gained 13.1 percent year-on-year, resulting in an average two-year growth of 6.6 percent.

The industrial output is used to measure the activity of designated large enterprises with an annual business turnover of at least 20 million yuan (about US$3.1 million).

ALSO READ: China's industrial output up 6.4% in July

Fixed-asset investment rises 8.9% in first eight months

China's fixed-asset investment rose 8.9 percent year-on-year in the first eight months of this year, NBS data showed.

During the Jan-Aug period, the nation's fixed-asset investment amounted to over 34.69 trillion yuan (about US$5.38 trillion), according to the NBS.

Compared with the 2019 level, the fixed-asset investment growth came in at 8.2 percent for the period. The average Jan-Aug growth rate in the recent two years stood at 4 percent.

Fixed-asset investment in manufacturing and infrastructure gained 15.7 percent and 2.9 percent year-on-year in the first eight months of this year, respectively, NBS data showed

Investment by the private sectors rose 11.5 percent year-on-year to 19.86 trillion yuan in the first eight months, NBS data showed.

On a month-on-month basis, fixed-asset investment gained 0.16 percent in August.

Investment in the primary industry increased 18.1 percent year-on-year in the first eight months, while investment in the secondary industry rose 12.9 percent and that in the tertiary industry climbed 6.8 percent.

Specifically, investment in manufacturing and infrastructure gained 15.7 percent and 2.9 percent year-on-year, respectively, NBS data showed.

Fixed-asset investment includes capital spent on infrastructure, property, machinery and other physical assets.

Retail sales up 2.5% in Aug

Meanwhile, China's retail sales of consumer goods went up 2.5 percent year-on-year in August, the data showed.

The country's retail sales of consumer goods totaled around 3.44 trillion yuan (about US$533 billion) in August, according to the data.

Retail sales in August were 3 percent higher from the level in August 2019. The two-year average growth was 1.5 percent.

In the Jan-Aug period, retail sales gained 18.1 percent year-on-year and 8 percent from the same period in 2019, according to the NBS.

In the first eight months, the catering industry saw a year-on-year increase of 34.4 percent in revenue, as the hardest-hit sector continued to recover from COVID-19 disruptions.

Online consumption remained a bright spot, with online retail sales rising 19.7 percent year-on-year to reach about 8.12 trillion yuan in the Jan-Aug. period.

Property investment up 10.9% in first eight months

China's investment in property development rose 10.9 percent year-on-year in the first eight months of this year, NBS data showed.

Compared with the 2019 level, property investment went up 15.9 percent, putting average Jan-Aug growth for 2020 and 2021 at 7.7 percent.

Investment in residential buildings gained 13 percent year-on-year during the eight-month period, the NBS data showed.

Commercial housing sales rose 15.9 percent year-on-year in terms of floor area to over 1.14 billion square meters. In terms of value, commercial housing sales went up 22.8 percent.

The property development climate index compiled by the NBS last month came in at 100.85 points.

Home prices ease

The country continued to see its housing market ease in August under strengthened market regulations, according to the NBS.

New home prices in four first-tier cities rose 0.3 percent month-on-month in August, representing a slower growth pace from the 0.4 percent seen in July, according to the NBS data.

On a year-on-year basis, new home prices in first-tier cities rose 5.7 percent in August, down from the 6-percent growth in July

Prices of second-hand homes in the four cities gained 0.2 percent month-on-month, down 0.2 percentage points from the growth in July. 

A total of 31 second-tier cities witnessed a month-on-month increase of 0.2 percent in new home prices, while 35 third-tier cities saw month-on-month growth in new home prices remain unchanged at 0.2 percent. 

In August, second-hand home prices in second-tier cities stayed the same, while those in third-tier cities edged down 0.1 percent month-on-month.

On a year-on-year basis, new home prices in first-tier cities rose 5.7 percent in August, down from the 6-percent growth in July, while those in second-tier and third-tier cities went up 4.4 percent and 2.8 percent, respectively.

READ MORE: China's home prices generally stable amid global rising trend

Job market stable

China's job market remained generally stable in August, official data showed.

The surveyed urban unemployment rate stood at 5.1 percent in August, unchanged from that in July, according to the data.

During the first eight months of this year, the country created 9.38 million new jobs in its urban areas, achieving 85.3 percent of the annual target

During the first eight months of this year, the country created 9.38 million new jobs in its urban areas, achieving 85.3 percent of the annual target.

READ MORE: Govt outlines plan to beef up employment

The surveyed unemployment rate among those aged between 16 and 24 dropped 0.9 percentage points from that in July to 15.3 percent last month, while the rate among those aged between 25 and 59, the majority of the labor market, stood at 4.3 percent.

The surveyed unemployment rate in 31 major cities was 5.3 percent last month, up 0.1 percentage points from that in July.

The rate is calculated based on the number of unemployed people who have participated in the employment survey in urban areas, including migrant workers in cities.


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