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The consumer goods industry maintained steady growth. Benefiting from the country's expansion of consumption policies, the production and operation of the consumer goods industry is better than the overall industrial situation. In the first quarter, the added value of the consumer goods industry above designated size increased by 7.8% year-on-year, of which 9.8% in March, 2.4 percentage points faster than the first two months. The value-added growth rate of the light industry, textile, tobacco and pharmaceutical industries was 6.1% to 14.7%, of which 9.4%, 8.4%, 9.9% and 16.3% respectively increased in March, 1.8-4.3 percentage points faster than the first two months. From January to February, the profits of the light industry and the textile industry decreased by 4.2% and 9.5% respectively, the decline was significantly lower than the national average. The profits of the pharmaceutical and tobacco industries increased by 22.4% and 13.8% respectively.
The investment has been spurred, and the equipment manufacturing industry and some raw materials industries have turned around. In the first quarter, the added value of machinery, nonferrous metals, automobiles and petrochemical industries increased by 6.5%, 4.2%, 3.7% and 4.5% respectively, of which the growth in March was above 10%. The small-displacement car preferential policies led to a rebound in automobile production and sales. In March, automobile production and sales both reached record highs. In the first quarter, the added value of the building materials industry increased by 12.6% year-on-year, faster than the overall industrial growth rate of 7.5 percentage points; the national cement output was 280 million tons, an increase of 12.9%. In the context of the decline of crude steel production by 37% in the first two months of the world's 65 other steel producing countries, China's crude steel output still increased by 1.4% in the first quarter. A number of national support policies have played a positive role in alleviating the difficulties of non-ferrous industries. The average spot prices of copper, electrolytic aluminum and zinc in the domestic market in March were 31,171, 12,594 and 11,281 yuan/ton respectively, up 12.8%, 5.5% and 7.3 from the end of February. %. The petrochemical association focused on 168 kinds of petrochemical products. In March, there were 81 kinds of prices rising in February, and 7 kinds were flat.
The urban and rural markets were activated, and the production and sales of home appliances, agricultural machinery and automobiles improved. The policy of “three rural areas†for home appliances, agricultural machinery and automobiles (motorcycles) is strong and effective. In the first quarter, the sales of home appliances to the countryside reached 2.7 million units, with a sales volume of 4 billion yuan; the production of household refrigerators and washing machines increased by 7.9% and 4.7% respectively; the decline in color TV production decreased from 21.4% in the first two months to 9.2%. The output of small and medium-sized tractors increased by 27.8% and 22.2% respectively, and the harvesting machinery and on-the-spot operation machinery increased by 44.1% and 37.6% respectively. The output of micro-vehicle products of SAIC-GM-Wuling and Changan increased by 47.5% and 78.5% respectively in March.
The growth rate of industrial production in nearly half of the provinces has accelerated. In the first quarter, the industrial added value of the eastern, central and western regions increased by an average of 3.7%, 5.2% and 11.8%. Production growth in most provinces accelerated, with provinces growing at more than 10% in March increasing from 10 in the first two months to 15. Among the major industrial provinces (cities), the industrial added value of Jiangsu, Shandong, Guangdong, and Liaoning provinces increased by 17.5%, 7.9%, 6.8%, and 14%, respectively. The growth rate was faster than the first two months; Zhejiang and Shanghai industrial added value ( The national average of 5.4% and 3.5% fell by 1% and 5.6% respectively, and the decline narrowed sharply, slowing by 7.2 and 6.8 percentage points from the first two months.
The export tax rebate rate was raised, and the decline in exports of some industrial products decreased. Since the second half of 2008, the state has adjusted the export tax rebate rate for some light industry, textile and mechanical and electrical products six times, involving more than 7,800 tax numbers. The comprehensive average tax rebate rate has been higher than before July 2007, and the export is stable. The situation has had a positive effect. In March, China's foreign trade exports fell by 17.1% year-on-year, a decrease of 4 percentage points over the first two months. The export of labor-intensive products such as clothing and furniture increased, and the decline in exports of mechanical and electrical products narrowed. The production situation of the electronics industry with a high proportion of exports in various industries showed signs of change. In March, the industrial added value of the electronics industry decreased from 9.4% in the first two months to 1.2% in the first two months; the export delivery value decreased by 10.1%, the first two declines. The monthly slowdown was 8.9 percentage points.
Promote energy conservation and emission reduction, and comprehensive energy consumption of key industries and enterprises will continue to decline. In the first two months, the comprehensive energy consumption of metallurgical, non-ferrous metals, petroleum and petrochemical, chemical, pharmaceutical, textile, electronics and other industries decreased by 7% to 16% year-on-year, and the energy consumption of industrial enterprises with annual comprehensive energy consumption of more than 10,000 tons of standard coal decreased by 9.2. %, the main industrial products (or processes) of 45 key monitoring products have reduced energy consumption in 33 units such as raw coal, caustic soda, synthetic ammonia, cement, steel and thermal power.
The issuance of 3G licenses has accelerated the construction of TD-SCDMA. In the first two months, the total volume of telecom services increased by 11.4% year-on-year, revenue increased by 2%, and profits decreased by 10%. The issuance of 3G licenses has driven the fixed assets investment in the communications industry, increasing the motivation and confidence of the society and enterprises to increase independent research and development. The 3G development plans of the three basic telecommunications companies and the investment of 180 billion yuan this year are being organized and implemented as planned. The investment in the first quarter has been completed by 120 billion yuan. The construction process of TD~SCDMA network has obviously accelerated.
At present, the impact of the international financial crisis is still spreading, the developed economies are in a full-scale recession, some emerging markets and developing countries are in trouble, the international financial market turmoil and the real economy are declining, uncertainties are still increasing, and external demand continues. Shrinking, the decline in exports is large; in some domestic industries, overcapacity, unreasonable structure and other deep-seated contradictions have far-reaching effects, and the economic benefits continue to decline. The problems are very prominent, making it difficult to maintain a stable and rapid industrial economy.
The international market is shrinking and the situation of foreign trade exports is grim. In the first quarter, China's foreign trade exports fell by 19.7% year-on-year, and industrial export delivery value fell by 13.9%; steel, electrolytic aluminum, color TV, and integrated circuit exports fell by 54.9%, 75.4%, 14.9%, and 19.7%, respectively. Due to the large depreciation of the Euro, the Japanese Yen and the Korean Won, it has affected the comparative advantage of China's products in the international market.
Insufficient effective demand and serious overcapacity in some industries. At the end of 2008, China's crude steel production capacity was 660 million tons, and it is expected that the overcapacity will exceed 100 million tons this year. The production capacity of non-ferrous metals, chemicals, electronics and other industries is also very prominent.
Production at low levels, the overall profitability has dropped significantly. In the first quarter, the growth rate of industrial added value above designated size was the lowest level in each quarter since 1992. Industrial profitability has fallen sharply due to a sharp drop in market prices. In the first quarter, the ex-factory price of industrial products decreased by 4.6% year-on-year. The purchase price of raw materials, fuels and power of enterprises decreased by 7.1%. In the first two months, the profits of industrial enterprises above designated size decreased by 37.3%, and the profits of metallurgical, non-ferrous metals and electronics industries decreased by 90.1. From % to 99.5%, the petrochemical and power industries decreased by 57.3% and 61.9% respectively, and the machinery industry decreased by 24.3%.
The “bottleneck†of financing is constrained, and the difficulty in securing SME loans is still very prominent. In the first quarter of this year, with the substantial increase in credit scale, the credit line of SMEs was generally small, and the loan difficulties were still widely reflected. The relevant departments have done a lot of work in increasing fiscal and taxation, credit support, innovation in financial services for SMEs, and expanding direct financing channels for SMEs. However, the problem of financing difficulties for SMEs has not been fundamentally resolved.
Some enterprises have weak risk awareness and are difficult to adapt to the drastic changes in the market situation. In the face of the impact of the international financial crisis, some companies lacked an accurate grasp of the market situation, blindly expanding production in the case of a slight increase in prices and no increase in demand. In the first two months, the loss of loss-making enterprises above designated size increased by 36.6% year-on-year, and the loss was expanded to one-fourth. The enterprises stopped production and the semi-stop production still reached about 9%. Among them, there are both the impact of the international financial crisis and the problems of the enterprise itself.
At present, although there have been some positive changes in the economic operation, the foundation is still not solid, and it cannot be said to the bottom. The industrial economy still faces a very complicated and severe situation.
In the first quarter, China’s industry’s rapid decline in momentum has initially reversed
In the first quarter, under the unfavorable situation of severe shrinking of external demand, the central measures of “expanding domestic demand, adjusting structure, and ensuring growth†showed the effects. The industrial growth rate quickly fell back to 3.8% in January-February this year, and the momentum of the decline was too fast. With initial containment, the added value of industrial enterprises above designated size increased by 5.1% year-on-year, and increased by 8.3% in March. The added value of light and heavy industry increased by 6.8% and 4.5% respectively year-on-year; of which, it increased by 8.5% and 8.3% in March, which was 2.0 and 5.6 percentage points higher than the first two months respectively. In terms of industries, the consumer goods industry has gradually stabilized, the production situation of the equipment industry and some raw materials industries has improved, and the growth rate of the electronics industry has slowed down. However, the growth of various industries is still at a low level, exports are still declining, and the industrial economy is recovering from a low level. No continuation remains to be seen. In the first quarter, the industrial communications industry showed the following characteristics.