SCIO briefing on China's economic performance in first quarter of 2021

Speaker:

Liu Aihua, spokesperson of the National Bureau of Statistics (NBS), director general of the Department of Comprehensive Statistics of the NBS

Chairperson:

Shou Xiaoli, deputy head of the Press Bureau of the State Council Information Office (SCIO) and SCIO spokesperson

Date:

April 16, 2021

Shou Xiaoli:

Ladies and gentlemen, good morning. Welcome to this press conference held by the State Council Information Office (SCIO). Today's press conference is a regular briefing on China's economic data. We are delighted to be joined by Ms. Liu Aihua, spokesperson of the National Bureau of Statistics (NBS) and director general of the Department of Comprehensive Statistics of the NBS. Ms. Liu will introduce details concerning China's economic performance in the first quarter of 2021 and answer your questions. Now, let's give the floor to Ms. Liu.

Liu Aihua:

Thank you. I'll start by briefing you all on China's economic performance in the first quarter of this year and then take your questions. The national economy has seen a good start in the first quarter. Faced with the impact of the COVID-19 pandemic during winter and spring as well as uncertainties in the external environment, local authorities and government departments have all worked under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, faithfully implemented the decisions and plans of the CPC Central Committee and the State Council, and consolidated and expanded the progress on epidemic prevention and control and socioeconomic development. Macro policies are being implemented in a scientific and targeted manner. As a result, China's national economy delivered a stable performance with a consolidated foundation and a good momentum of growth. The demand of production was expanded, market vitality improved, employment and consumer prices remained stable, and people's well-being was fully guaranteed. The national economy has seen a good start to the year.

According to preliminary estimates, gross domestic product (GDP) in the first quarter reached 24,931.0 billion yuan, up by 18.3% year on year at comparable prices, or up by 0.6% compared with the fourth quarter of 2020 and 10.3% compared with the first quarter of 2019, with an average two-year growth of 5.0%. By industry, the value added of the primary industry was 1,133.2 billion yuan, up by 8.1% year on year, or an average two-year growth of 2.3%; that of the secondary industry was 9,262.3 billion yuan, up by 24.4% year on year, or an average two-year growth of 6.0%; and that of the tertiary industry was 14,535.5 billion yuan, up by 15.6% year on year, or an average two-year growth of 4.7%. On one hand, the year-on-year GDP growth of 18.3% in the first quarter was affected by such unique factors as the low base figure of last year and the increased working days due to staff staying put during the Spring Festival. On the other hand, the quarter-on-quarter growth of 0.6% in the first quarter, with the average two-year growth reaching 5.0%, demonstrated the steady recovery of the national economy.