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China's macro-economic performance improves in May: NDRC spokeswoman

China

China's macro-economic performance improves in May: NDRC spokeswoman
China

China

China's macro-economic performance improves in May: NDRC spokeswoman

2024-06-18 21:06 Last Updated At:23:27

China's macro-economy demonstrated a sustained rebound in May, supported by the implementation of macroeconomic policies, according to Li Chao, spokeswoman for the National Development and Reform Commission (NDRC) on Tuesday.

Addressing a press conference in Beijing, Li said that overall, most macroeconomic indicators in May showed improvement compared to the previous month.

Production maintained rapid growth, with the equipment manufacturing industry and high-tech manufacturing industry showing value-added growth rates 1.9 and 4.4 percentage points higher than the overall industrial growth rate, respectively, Li stated.

Domestic demand continued to be unleashed, and the momentum of foreign trade exports remained strong. By the end of May, more than 80 percent of the one-trillion yuan government bond projects issued last year had commenced construction.

Regarding employment, the country's job market remained stable from January to May. In May, the surveyed urban unemployment rate stood at 5.0 percent, unchanged from April. The NDRC will take multiple measures to further consolidate the sound momentum of economic recovery, Li said.

"We will accelerate the implementation and effectiveness of various policies including "two majors" (the issuance of ultra-long special treasury bonds used to implement major national strategies and build up security capacity in key areas) and "two renewals" (promote large-scale upgrading of equipment and the replacement of old consumer goods with new ones), so as to effectively consolidate and enhance the positive trend of economic recovery," Li said.

China's macro-economic performance improves in May: NDRC spokeswoman

China's macro-economic performance improves in May: NDRC spokeswoman

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China's 2024 summer grain output hits record high

2024-07-15 11:55 Last Updated At:12:07

China achieved a bumper summer grain harvest in 2024, with the output reaching a record high of 149.78 million tons, up by 2.5 percent or nearly 3.63 million tons year on year, recent official data showed.

The ample yields of staple crops help bolster the country's food security, according to the National Bureau of Statistics.

The summer grain output per hectare reached 5,628 kilograms, an increase of 2.5 percent or 135.4 kilograms from last year. Notably, the wheat yield per hectare reached 5,986 kilograms, marking a 150-kilogram increase from 2023.

Currently, China has over 1 billion mu (about 66.67 million hectares) of high-standard farmland nationwide, effectively increasing grain yields per unit.

The Ministry of Agriculture and Rural Affairs has launched a three-year plan aimed at enhancing the unit yield of wheat, along with a governmental fund of 1.6 billion yuan (about 220 million U.S. dollars) to support efforts in pest control, disease prevention, and heat resistance.

"We focus on addressing challenges in wheat planting process, including issues with plowing, sowing, management, and harvesting. By integrating fine varieties, key technologies, and advanced agricultural machinery, we've significantly increased unit yield of wheat over extensive regions. Henan Province has seen a rebound in wheat production, and major wheat-producing provinces like Shandong, Hebei, Jiangsu, and Anhui have achieved record-high yields per unit area," said Lyu Xiutao, deputy director of Department of Crop Production at the Ministry of Agriculture and Rural Affairs.

China's 2024 summer grain output hits record high

China's 2024 summer grain output hits record high

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