Tianjin Municipal Party Committee: in Accordance with the 12th Five-Year Plan

Tianjin Evening News (今晚报), via Enorth — Main Link: http://news.enorth.com.cn/system/2011/07/20/006965691.shtml. Links within the blockquotes are mine, not the original article’s.

According to information from the standing committee of the municipal party committee’s  (市委常委) extended session on the morning of July 20, the whole city conscientiously implemented the central authorities’ macro-economic policies and all the municipal party committee’s dispositions. During the first half year, the city’s economy developed in a stable (平稳) and comparatively fast manner, achieving a good start for the 12th five-year plan (十二五). During the first half year, the city’s GDP grew by 16.6 per cent, which is an acceleration by 0.1 percentage points compared with the first quarter1), which is 0.5 per cent faster than the five-year plan.

Firstly, the economy showed a stable, high-level performance, continuing the trend of strong growth and low consumption. While fast economic growth was maintained, energy consumption per ten-thousand Yuan RMB of GDP2), on the basis of the 12th five-year plan’s cumulative decline by 21 per cent, fell by more than 4 per cent.

Secondly, the three sectors’ coordinated development achieved optimum structure, with high-level initial results. [I can’t translate the following two lines: 上半年规模以上工业增加值增长21.1%,总产值增长30.2%,比一季度加快0.1个和1.5个百分点。] The tertiary sector continued to grow rapidly, by 14.6 per cent, which is 0.1 percentage point more [than the first half of last year].

Thirdly, there was a more balanced demand, by building strong domestic demand and stable demand from outside. Investment grew by 33.3 per cent during the first half year, which is an acceleration by 3.2 percentage points compared with the first quarter. As of the end of June, 580 of 1,120 major projects had been completed (竣工), and 485 projects are under close attention. 198.2 bn Yuan RMB were invested during the first half of the year. Retail of social consumption products3) (社会消费品) rose by 18.5 per cent, an increase by 0.6 per cent. […]

The article mentions two more aspects (“fourthly” and “fifthly”), which (my vague interpretation, as I’m running out of time) refer to quality of growth. The fifth point also mentions twenty popular aspirations projects (民心工程) which were going well, and newly-created jobs for 335,500 people (上半年新增就业23.55万人) during the first half year. Urban and rural incomes had risen by 13.6 and 17 per cent respectively.
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Notes

1) this number appears to compare this year’s second and first quarter, rather than this and last year’s first halves.
2) 万元生产总值能耗, wàn yuán shēngchǎn zǒng zhí néng hào
3) Social consumption is a term frequently connected with “ethical consumption” elsewhere – that’s not how it is meant here, and it most probably simply means household consumption. Your expertise is welcome; just use the commenting function for your definitions or explanations. Explanations of the term 利用内外资分别 would also be welcome.

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Related

» National Bureau of Statistics Press Conference, July 13, 2011
» At the Crossroads: China’s Development, February 20, 2009

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