Added Value of Industries above Designated Size Grows 1 Pct in First Four Months YoY
2020-05-27

  In the first four months of this year, the added value of industries above designated size increased by 1% year on year, 5.9 percentage points higher than the national average, and 1.9 percentage points higher than that of the first three months, according to major economic data released by Sichuan Provincial Bureau of Statistics.

  In March, the added value of industries above designated size in the province no longer dropped but saw an increase, and the data of the first four months turned positive compared with those in the first quarter, which all reflected the overall trend of economic pick-up. By sector, of the 41 major industries, 20 have maintained growth in added value. Of these, the value added of the computer, communications and other electronic equipment manufacturing industry increased by 11.6% year on year. In terms of the output of major industrial products, traditional Chinese medicinal materials, natural gas and plate glass maintained double-digit growth in the first four months.

  Investment data has also turned positive, but the pressure to ensure investment stability in the industrial sector has not diminished yet. In the first four months, the total fixed asset investment in Sichuan increased by 1.3% year on year, up 5.6 percentage points from the previous three months. In the real estate development sector, the investment saw a year-on-year growth of 5.9%. Specifically, the construction areas of commercial housing increased by 1.9% year on year, while the sales areas of commercial residential buildings fell by 15.8% year on year.

  Consumption continued to recover slowly. In the first four months, the total retail sales of consumer goods in the province reached RMB 593.57 billion, down 10.7% year on year, 5.5 percentage points lower than the national average and 2.3 percentage points lower than that of the previous three months. Specifically, food and beverage revenue fell by 29.4% year on year.

  Some experts said that the economic data in the first four months showed that the economy as a whole was recovering and picking up, and the recovery in production was better than the demand. Under such circumstances, new policies and measures to stimulate consumption need to be implemented. At the same time, further strengthening the investment momentum is also the work focus.