State Statistical Bureau spokesman Li Xiaochao said on the 19th, According to preliminary estimation, the gross domestic product (GDP) of China in the first half of this year was 10,676.8 billion yuan, a year-on-year increase of 11.5 percent. National Economy Kept Steady and Fast Growth, it present rapid economic growth, improved efficiency, harmonized structure and more substantial benefits to the masses.

In the press conference held by State Council Information Office, he said, agricultural production attained another bumper harvest with the unit output of summer grain recorded all round high; Industrial production accelerated its growth with a big margin of profits made by enterprises. The investment growth is running at a high level and the investment in central and western areas maintained rapid growth. Foreign trade increased rapidly and the utilization of foreign capitals increased steadily. Urban and rural residents’ income kept fast growth with record high growth rate. I Money supply grew steadily and the growth rate of savings deposits of residents slowed down.

The total output of summer grain reached 115.34 million tons, an increase of 1.46 million tons or an increase of 1.3 percent representing 4 straight years of good harvest. The unit production of summer grain grew by 1.1 percent. The output of early rice is expected to have another bumper harvest. The planting areas for cotton continued to increase, the ratio of high quality farm products further improved. In the first half of this year, the output of pork, beef, mutton and poultry was 36.52 million tons, a year-on-year growth of 1.3 percent.

In the first half of this year, the total value added of the industrial enterprises above designated size was up 18.5 percent year-on-year growth (19.4 percent in June), or 0.8 percentage point higher than that in the first half of 2006. In the first five months of this year, the profits made by industrial enterprises above designated size stood at 902.6 billion yuan, a year-on-year increase of 42.1 percent, or 16.6 percentage points higher than that in the same period last year.

In the first half of this year, the investment in fixed assets of the country was 5,416.8 billion yuan, up by 25.9 percent, or a drop of 3.9 percentage points as compared with the growth in the same period last year, or 2.2 percentage points higher than that in the first quarter of this year. In the first half of this year, the complete investment in central and western urban areas amounted to 1,111.1 billion yuan and 1,009.4 billion yuan respectively, the year-on-year growth of 35.6 percent and 30.2 percent, all topping that of the eastern area which stood at 22.3 percent.

In the first half of this year, the total retail sales of consumer goods reached 4,204.4 billion yuan, a year-on-year rise of 15.4 percent (up by 16 percent in June), representing the highest growth since 1997. In the first half of this year, the year-on-year consumer prices grew by 3.2 percent (year-on-year growth in June was 4.4 percent, or 0.4 percent growth over that in May), 1.9 percentage points higher than that in the same period last year.

In the first half of this year, the total value of imports and exports was US$ 980.9 billion, up 23.3 percent year-on-year, or 0.1 percentage point lower.Of the total, the value of exports was US$ 546.7 billion, up by 27.6 percent, and the value of imports was US$ 434.2 billion, up 18.2 percent. The trade surplus was US$ 112.5 billion, up by US$ 51.1 billion.

The total value of foreign direct investment actually utilized was US$ 31.889 billion, up by 12.2 percent. At the end of June, China registered a total of US$ 1,332.6 billion in foreign exchange reserves, an increase of US$ 266.3 billion over the end of 2006.

Li Xiaochao said, In the first half of this year, the per capita disposable income of urban residents was 7,052 yuan, a real growth of 14.2 percent year-on-year, or 4 percentage points higher than that in the same period last year. The per capita cash income of rural residents was 2,111 yuan, an increase of 314 yuan, a year-on-year growth of 13.3 percent in real terms, an increase of 1.4 percentage points, or 1.2 percentage points higher than that in the first quarter of this year. The momentum of urban and rural residents’ income growth was rarely seen in recent years.

He pointed out that the system and structural problems existed in economic performance are still outstanding, in particular, the unbalance balance of payments, the high price rise for food and the high pressure on energy consumption and pollutant emission reduction. In the future, we will adhere to the scientific approach to development to guide the economic and social development. We will further enhance and improve the macro-control, and put into practice various policies set by the central government. Efforts will also be made to adjust the structure, change the pattern of economic growth, deepen reform which will lead to the realization of a sound and rapid growth of the national economy.