National Economy Continued to Recover with Expected Development Targets Well Achieved in 2021
2022/01/18

National Economy Continued to Recover with Expected Development Targets Well Achieved in 2021

National Bureau of Statistics of China2022-01-17 10:00



In 2021, faced with multiple tests of grave and complex international environment and sporadic outbreaks of the pandemic at home, under the strong leadership of the Central Committee of the Communist Party of China with Comrade Xi Jinping as the core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, adhered to the general working guideline of making progress while maintaining stability, coordinated the work of epidemic prevention and control and economic and social development in a scientific way, consolidated the work in stabilizing the six fronts (employment, finance, foreign trade, foreign investment, domestic investment, and market expectations), fully implemented the task of safeguarding the six areas (employment, basic living needs, operation of market entities, food and energy, stable industrial and supply chains, and normal functioning of primary-level governments), strengthened the macro polices for cross-cyclical adjustment, and increased the support to the real economy. As a result, the national economic recovery and development were sustained, the reform and opening up and innovation were further advanced, people’s livelihood was strongly and effectively safeguarded, new strides were made in building a new development pattern and new achievements were secured in high-quality development, kicking off a good start for the 14th Five-Year Plan.

 

According to preliminary estimates, the gross domestic product (GDP) was 114,367.0 billion yuan in 2021, an increase of 8.1 percent over the previous year at constant prices with the average two-year growth of 5.1 percent. By quarter, the GDP for the first quarter went up by 18.3 percent year on year, up by 7.9 percent for the second quarter, 4.9 percent for the third quarter and 4.0 percent for the fourth quarter. By industries, the value added of the primary industry was 8,308.6 billion yuan, up by 7.1 percent over the previous year, that of the secondary industry was 45,090.4 billion yuan, up by 8.2 percent and that of the tertiary industry was 60,968.0 billion yuan, up by 8.2 percent.

 

1. The Grain Output Reached Another High and Production of Animal Husbandry Grew Steadily.

 

The total output of grain in 2021 was 682.85 million tons, an increase of 13.36 million tons, or up by 2.0 percent over the previous year. Of this total, the output of summer grain was 145.96 million tons, up by 2.2 percent, and that of early rice was 28.02 million tons, up by 2.7 percent. The output of autumn grain reached 508.88 million tons, up by 1.9 percent. By species, the output of rice was 212.84 million tons, up by 0.5 percent; wheat, 136.95 million tons, up by 2.0 percent; corn, 272.55 million tons, up by 4.6 percent; soybean, 16.40 million tons, down by 16.4 percent. The total output of pork, beef, mutton and poultry in 2021 was 88.87 million tons, up by 16.3 percent over the previous year. Of this total, the output of pork was 52.96 million tons, up by 28.8 percent; beef, 6.98 million tons, up by 3.7 percent; mutton, 5.14 million tons, up by 4.4 percent; poultry, 23.80 million tons, up by 0.8 percent; milk, 36.83 million tons, up by 7.1 percent; and eggs, 34.09 million tons, down by 1.7 percent. At the end of 2021, pigs and breeding sows registered in stock were up by 10.5 percent and 4.0 percent respectively over that at the end of 2020.

 

2. Industrial Production Experienced Sustained Development and High-tech Manufacturing and Equipment Manufacturing Experienced Fast Growth.

 

The total value added of industrial enterprises above the designated size increased by 9.6 percent over the previous year, an average two-year growth of 6.1 percent. In terms of sectors, the value added of mining was up by 5.3 percent, that of manufacturing up by 9.8 percent and that of production and supply of electricity, thermal power, gas and water up by 11.4 percent. The value added of the high-tech manufacturing and equipment manufacturing went up by 18.2 percent and 12.9 percent respectively, or 8.6 percentage points and 3.3 percentage points faster than that of the industrial enterprises above the designated size. By products, the production of new energy vehicles, industrial robots, integrated circuits, and micro computer equipment grew by 145.6 percent, 44.9 percent, 33.3 percent, and 22.3 percent, respectively. In terms of ownership, the value added of the state holding enterprises grew by 8.0 percent, that of the share-holding enterprises up by 9.8 percent, that of the enterprises funded by foreign investors and investors from Hong Kong, Macao and Taiwan up by 8.9 percent and that of private enterprises up by 10.2 percent. In December, the total value added of the industrial enterprises above the designated size grew by 4.3 percent year on year with an increase of 0.42 percent month on month. The Manufacturing Purchasing Managers’ Index was 50.3 percent, 0.2 percentage points higher than that of the previous month. In 2021, the national industrial capacity utilization rate reached 77.5 percent, 3.0 percentage points higher than that of the previous year.

 

In the first eleven months, the total profits made by industrial enterprises above the designated size were 7,975.0 billion yuan, up by 38.0 percent year on year with the average two-year growth of 18.9 percent. The profit rate of the business revenue of industrial enterprises above the designated size was 6.98 percent, up by 0.9 percentage points year on year . 

 

3. Service Sector Witnessed Sustained Recovery with Modern Service Industries Demonstrating Sound Momentum of Growth.

 

The tertiary industry experienced fast growth in 2021. By industries, the value added of the information transmission, software and information technology services, accommodation and catering services, and transportation, storage and postal services grew by 17.2 percent, 14.5 percent, and 12.1 percent over the previous year respectively, maintaining the restorative growth. In 2021, the Index of Services Production grew by 13.1 percent over that of the previous year with the average two-year growth of 6.0 percent. In December, the Index of Services Production grew by 3.0 percent year on year. In the first eleven months, business revenue of service enterprises above the designated size grew by 20.7 percent year on year with the average two-year growth of 10.8 percent. In December, the Business Activity Index for services was 52.0 percent, 0.9 percentage points higher than that of the previous month. Specifically, the Business Activity Index for sectors like telecommunication, broadcast, television and satellite transmission services, monetary and financial services, and capital market services stayed within the high expansion range of 60.0 percent and above.

 

4. Market Sales Expanded with Sales of Basic Living Goods and Upgraded Consumer Goods Growing Fast.

 

In 2021, the total retail sales of consumer goods reached 44,082.3 billion yuan, up by 12.5 percent over the previous year with the average two-year growth of 3.9 percent. Analyzed by different areas, the retail sales in urban areas reached 38,155.8 billion yuan, up by 12.5 percent; and the retail sales in rural areas stood at 5,926.5 billion yuan, up by 12.1 percent. Grouped by consumption patterns, the retail sales of goods were 39,392.8 billion yuan, up by 11.8 percent; and the income of catering was 4,689.5 billion yuan, up by 18.6 percent. The basic living consumption sustained good momentum of growth, with the retail sales of beverages and grain, oil and food by enterprises above the designated size growing by 20.4 percent and 10.8 percent over the previous year. The demand for upgraded consumer goods continued to unleash, with the retail sales of gold, silver and jewelry and that of cultural and office supplies by enterprises above the designated size growing by 29.8 percent and 18.8 percent respectively. In December, the total retail sales of consumer goods grew by 1.7 percent year on year, or down by 0.18 percent month on month. In 2021, the national online retail sales reached 13,088.4 billion yuan, growing by 14.1 percent over the previous year. Specifically, the online retail sales of physical goods were 10,804.2 billion yuan, up by 12.0 percent, accounting for 24.5 percent of the total retail sales of consumer goods.

 

5. Investment in Fixed Assets Continued to Increase and Investment in Manufacturing and High-tech Industries Maintained a Good Momentum of Growth.

 

In 2021, the investment in fixed assets (excluding rural households) reached 54,454.7 billion yuan, up by 4.9 percent over the previous year with the average two-year growth of 3.9 percent. Specifically, the investment in infrastructure went up by 0.4 percent, manufacturing up by 13.5 percent and real estate development up by 4.4 percent. The floor space of commercial buildings sold reached 1,794.33 million square meters, up by 1.9 percent. The total sales of commercial buildings were 18,193.0 billion yuan, up by 4.8 percent. By industries, the investment in the primary industry went up by 9.1 percent; that in the secondary industry up by 11.3 percent; and that in the tertiary industry up by 2.1 percent. The private investment was 30,765.9 billion yuan, up by 7.0 percent, accounting for 56.5 percent of the total investment. The investment in high-tech industries grew by 17.1 percent, 12.2 percentage points faster than the total investment, of which the investment in high-tech manufacturing and high-tech services grew by 22.2 percent and 7.9 percent, respectively. In terms of high-tech manufacturing, the investment in electronics and communication equipment manufacturing and in manufacturing of computers and office devices grew by 25.8 percent and 21.1 percent, respectively. In terms of high-tech services, the investment in e-commerce services and services for transformation of scientific and technological achievements grew by 60.3 percent and 16.0 percent, respectively. The investment in social sector went up by 10.7 percent over the previous year. Specifically, the investment in health sector and in education sector went up by 24.5 percent and 11.7 percent respectively. In December, the investment in fixed assets grew by 0.22 percent month on month.

 

6. Imports and Exports of Goods Witnessed Fast Growth and Trade Structure Continued to Optimize.

 

In 2021, the total value of imports and exports of goods was 39,100.9 billion yuan, an increase of 21.4 percent over the previous year. Specifically, the total value of exports was 21,734.8 billion yuan, up by 21.2 percent; the total value of imports was 17,366.1 billion yuan, up by 21.5 percent. The trade balance was 4,368.7 billion yuan in surplus. The imports and exports of general trade grew by 24.7 percent, accounting for 61.6 percent of the total value of the imports and exports, an increase of 1.6 percentage points over the previous year. The imports and exports by private enterprises grew by 26.7 percent, accounting for 48.6 percent of the total value of the imports and exports, 2 percentage points higher than that of the previous year. In December, the total value of imports and exports of goods was 3,750.8 billion yuan, up by 16.7 percent year on year. Specifically, the total value of exports was 2,177.7 billion yuan, up by 17.3 percent; the total value of imports was 1,573.0 billion yuan, up by 16.0 percent. The trade balance was 604.7 billion yuan in surplus.

 

7. Consumer Price Grew Moderately and Growth of Producer Prices for Industrial Products Slowed Down from High Levels.

 

In 2021, the Consumer Price Index (CPI) went up by 0.9 percent over the previous year. Specifically, the price went up by 1.0 percent in urban areas and 0.7 percent in rural areas. Grouped by commodity categories, prices for food, tobacco and alcohol went down by 0.3 percent; clothing up by 0.3 percent; housing up by 0.8 percent; articles and services for daily use up by 0.4 percent; transportation and communication up by 4.1 percent; education, culture and recreation up by 1.9 percent; medical services and health care up by 0.4 percent; and other articles and services down by 1.3 percent. In terms of food, tobacco and alcohol prices, prices for grain went up by 1.1 percent, fresh vegetables up by 5.6 percent and pork down by 30.3 percent. Core CPI excluding the prices of food and energy went up by 0.8 percent. In December, the consumer price went up by 1.5 percent year on year, and the growth was 0.8 percentage points lower compared with the previous month or down by 0.3 percent month on month. In 2021, the producer prices for industrial products went up by 8.1 percent over the previous year. And in December, it went up by 10.3 percent year on year and the growth was 2.6 percentage points lower than the previous month or down by 1.2 percent month on month. The purchasing prices for industrial producers went up by 11.0 percent over the previous year. And in December, it went up by 14.2 percent year on year, or down by 1.3 percent month on month.

 

8. Employment Was Generally Stable and Surveyed Unemployment Rate in Urban Areas Declined.

 

The newly increased employed people in urban areas totaled 12.69 million, 0.83 million higher than the previous year. The surveyed unemployment rate in urban areas in 2021 averaged 5.1 percent, 0.5 percentage points lower than the average of the previous year. In December, the surveyed unemployment rate in urban areas was 5.1 percent, 0.1 percentage points lower than the same period of the previous year. Specifically, the surveyed unemployment rate of population with local household registration was 5.1 percent and that of population with non-local household registration was 4.9 percent. The surveyed unemployment rate of population aged from 16 to 24 was 14.3 percent, and that of population aged from 25 to 59 was 4.4 percent. In December, the urban surveyed unemployment rate in 31 major cities was 5.1 percent. The employees of enterprises worked 47.8 hours per week on average. In 2021, the number of rural migrant workers reached 292.51 million, 6.91 million more than that of the previous year, or up by 2.4 percent. Specifically, local migrant workers totaled 120.79 million, up by 4.1 percent; outside migrant workers totaled 171.72 million, up by 1.3 percent. The average monthly income of migrant workers was 4,432 yuan, up by 8.8 percent over the previous year.

 

9. Resident Income Grew Generally at the Same Pace with the Economic Growth and Urban-Rural Per Capita Income Ratio Narrowed.

 

In 2021, the nationwide per capita disposable income of residents was 35,128 yuan, a nominal increase of 9.1 percent over that of the previous year, an average two-year nominal growth of 6.9 percent; the real growth after deducting price factors was 8.1 percent, an average two-year growth of 5.1 percent, which was generally at the same pace with the growth of the economy. In terms of permanent residence, the per capita disposable income of urban households was 47,412 yuan, a nominal growth of 8.2 percent compared with the previous year and a real growth of 7.1 percent after deducting price factors. That of rural households was 18,931 yuan, a nominal growth of 10.5 percent compared with the previous year and a real growth of 9.7 percent after deducting price factors. The per capita disposable income of urban households was 2.50 times that of the rural households, 0.06 less than the ratio of the previous year. The median of the nationwide per capita disposable income was 29,975 yuan, a nominal increase of 8.8 percent over that of the previous year. Taking the per capita disposable income of nationwide households by income quintile, that of the low-income group reached 8,333 yuan, the lower-middle-income group 18,446 yuan, the middle-income group 29,053 yuan, the upper-middle-income group 44,949 yuan, and the high-income group 85,836 yuan. In 2021, the nationwide per capita consumption expenditure was 24,100 yuan, a nominal increase of 13.6 percent over the previous year, or an average two-year nominal growth of 5.7 percent; the real growth was 12.6 percent , or an average two-year growth of 4.0 percent after deducting price factors.

 

10. Total Population Increased and Urbanization Rate Continued to Grow.

 

By the end of 2021, the national population was 1,412.60 million (including the population of 31 provinces, autonomous regions and municipalities and servicemen, but excluding residents of Hong Kong, Macao and Taiwan and foreigners living in the 31 provinces, autonomous regions and municipalities), an increase of 0.48 million over that at the end of the previous year. In 2021, the number of births was 10.62 million with a birth rate was 7.52 per thousand; the number of deaths was 10.14 million with a death rate of 7.18 per thousand; the natural growth rate was 0.34 per thousand. In terms of gender, the male population was 723.11 million, and the female population was 689.49 million; the sex ratio of the total population was 104.88 (the female is 100). In terms of age structure, population at the working age from 16 to 59 was 882.22 million, accounting for 62.5 percent of the total population; population aged 60 and over was 267.36 million, accounting for 18.9 percent of the total population; population aged 65 and over was 200.56 million, accounting for 14.2 percent of the total population. In terms of urban-rural structure, the permanent residents in urban areas was 914.25 million, an increase of 12.05 million over the end of the previous year; and the permanent residents in rural areas was 498.35 million, a decrease of 11.57 million. The share of urban population in the total population (urbanization rate) was 64.72 percent, 0.83 percentage points higher than that at the end of the previous year. The population who reside in areas other than their household registration (refers to population whose residence and household registration place are not in the same towns or streets and who have been away from their household registration place for over 6 months) reached 504.29 million, which was 11.53 million more than the previous year. Specifically, the floating population stood at 384.67 million, or 8.85 million more than the previous year.

 

Generally speaking, in 2021, China sustained the continuous and steady recovery of the national economy and maintained the leading position in economic growth and epidemic prevention and control in the world, with major indicators reaching the expected targets. However, we must be aware that the external environment is more complicated and uncertain, and the domestic economy is under the triple pressure of demand contraction, supply shock and weakening expectations. At the next stage, we must take Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as the guideline, implement the spirits of the 19th CPC National Congress and the Plenary Sessions of the 19th Central Committee of the CPC and follow through the spirits of the Central Economic Work Conference. We must adhere to the general working guideline of making progress while maintaining stability, fully and faithfully implement the new development philosophy on all fronts, accelerate the pace to foster a new pattern of development, and promote high-quality development. We must coordinate the efforts of epidemic prevention and control and economic and social development, continue to ensure stability on six fronts and security in six areas and double the efforts to stabilize the macro economy, so as to keep the economy performing within a reasonable range, ensure social stability and greet the opening of the 20th CPC National Congress with practical actions.

 

Notes:

 

1. The growth rates of gross domestic product, value added of industrial enterprises above designated size and its sub-items are real growth by using comparable prices. The growth rates of other indicators are nominal growth by using current prices unless otherwise specified.

 

2. According to the auto-revision function of the seasonal adjustment model, revisions were made to quarter-on-quarter growth of GDP and to month-on-month changes of the value added of industrial enterprises above designated size, investment in fixed assets (excluding rural households), and total retail sales of consumer goods. The revised figures, quarter-on-quarter GDP growth for the fourth quarter of 2021, and month-on-month changes of other indicators for December 2021 are as follows:

 

The quarter-on-quarter growth of GDP in 2020 and 2021 were -10.5 percent, 11.6 percent, 3.4 percent, 2.6 percent, 0.3 percent, 1.3 percent, 0.7 percent and 1.6 percent respectively.

 

Month-on-Month Changes in 2021

 


Value Added of Industrial Enterprises above Designated Size

(%)

Investment in Fixed Assets (Excluding Rural Households)

(%)

Total Retail Sales of Consumer Goods

(%)





January

0.63

0.20

-0.52

February

0.62

0.55

0.69

March

0.61

0.02

0.62

April

0.51

0.21

0.01

May

0.49

0.23

0.69

June

0.51

0.22

0.32

July

0.23

0.21

-0.42

August

0.30

0.23

0.46

September

0.06

0.24

0.25

October

0.39

0.25

0.39

November

0.37

0.23

0.14

December

0.42

0.22

-0.18





 

3. The average two-year growth is the geometric mean of the growth with the data of the same period in 2019 as the base.

 

4. Industrial enterprises above the designated size are industrial enterprises with annual revenue from principal business over 20 million yuan.

 

As industrial enterprises above the designated size change every year, to ensure the data comparability between years, the coverage of the data of the same period the previous year used for estimating year-on-year growth rates like that of products output, are as consistent as possible with the current period and different from the coverage of the data published the previous year. The main reasons are as follows: First, the statistical units change. Every year, some enterprises are included in the survey as they meet the threshold, while some enterprises are removed from the survey because of downsizing. Besides, enterprises that have newly gone into operation, been bankrupted, canceled their registrations or had their business licenses revoked also cause impact. Second, duplicated outputs across regions of enterprise groups have been removed based on the ad hoc surveys since duplication was found in the products output of some enterprise groups.

 

5. The Index of Services Production is the change of production in the reporting period compared to the base period with the price factors deducted.

 

6. The scope of the total retail sales of consumer goods include all legal entities, establishments and self-employed individuals involved in retail trades or providing catering services. Specifically, businesses above the designated size include wholesale enterprises (businesses), retail enterprises (businesses) and lodging and catering enterprises (businesses) with annual revenue from principal business over 20 million yuan, 5 million yuan and 2 million yuan respectively.

 

As the wholesale, retail, and lodging and catering enterprises (businesses) above the designated size change every year, to ensure the data comparability between years, the coverage of the data of the same period the previous year used for estimating year-on-year growth rates like that of the retail sales of consumer goods by businesses above the designated size is consistent with the current period and different from the coverage of data published the previous year. The main reason is that every year, some enterprises (businesses) are included in the survey as they meet the threshold, while some enterprises (businesses) are removed from the survey because of downsizing. Besides, enterprises (businesses) that have newly gone into operation, been bankrupted, canceled their registrations or had their business licenses revoked also cause impact.

 

Online retail sales refer to the retail sales of goods and services realized through internet trading platforms (including self-built websites and third-party platforms). Goods and services include physical goods and non-physical goods (e.g. virtual goods and services).

 

The total retail sales of consumer goods include the online retail sales of physical goods, but not the non-physical goods.

 

7. The data of investment in fixed assets of the same period the previous year are revised according to the results of statistical law enforcement as well as the regulations of statistical programmes. The growth rates are calculated on a comparable basis.

 

8. Data of imports and exports are from the General Administration of Customs. Data of newly increased employed people in urban areas are from the Ministry of Human Resources and Social Security.

 

9. Employed people refer to people aged 16 and above who have the ability to work and engage in gainful employment for remuneration payment or business income.

 

10. Rural migrant workers refer to those who work in urban areas, or in the non-agriculture sectors in local or other areas for 6 months and above with their permanent household registrations being in rural areas. Local migrant workers refer to those who work in the administration area where they register their households permanently. Outside migrant workers refer to those who work in areas other than the administration area where they register their households permanently.

 

11. The median of the nationwide per capita disposable income of residents refers to the per capita disposable income of households which lies in the middle of all surveyed households ranked from low to high on the basis of per capita disposable income level.

 

The per capita disposable income of nationwide households by income quintile refers to the five equal partitions of all surveyed households, who are ranked from low to high based on per capita income level. The top 20 percent with the highest income are classified as high-income group, and the other four levels are upper-middle-income group, middle-income group, lower-middle-income group and low-income group.

 

12. Floating population refers to the population who live in places other than their household registration excluding those with current residence different from the place of their household registration but still in the same city. Population who live in places other than their household registration but still in the same city refer to those whose current residences are different from the registered towns or streets in the same district or in different districts but still in the same municipality or prefecture-level city.

 

13. Due to the round-off reasons, the subentries may not add up to the aggregate totals.

 

In case of any differences between English translation and the original Chinese text, the Chinese edition shall prevail.