China GDP up 9.6% in H1, industrial value-added up 14.3%

A construction site of the Beijing-Shanghai high-speed railway

July 13 -- China posted a 9.6 percent year-on-year growth in first half 2011 gross domestic product (GDP) to 20.45 trillion yuan, according to the National Bureau of Statistics. Second quarter GDP growth hit 9.5 percent, while first quarter GDP growth was 9.7 percent.

Compared with the first quarter, GDP was up 2.2 percent in the second quarter.

Large-scale industrial enterprises recorded a 14.3 percent year-on-year increase in value-added during the first six months.

State-owned and state-controlled industrial enterprises recorded year-on-year growth of 10.7 percent, while foreign companies, and companies from Hong Kong, Macau and Taiwan, posted growth of 11.1 percent.

The value-added generated by the primary industry hit 1.57 trillion yuan during the first half, an increase of 3.2 percent.

The secondary industry recorded an 11 percent year-on-year increase in value-added to 10.22 trillion yuan, while the value-added of the tertiary industry rose 9.2 percent to 8.66 trillion yuan.

Heavy industry posted a 14.7 percent year-on-year growth in value-added, while the light industrial sector recorded a 13.1 percent rise in value-added.

All the 39 broad industrial categories posted year-on-year growths in value-added.

The sales-output ratio of large-scale industrial enterprises during the first six months hit 97.8 percent, up 0.1 percentage point year-on-year.

The sales-output ratio of large-scale industrial enterprise in June increased 15.1 percent year-on-year and 1.48 percent month-on-month.

During the first five months, large-scale industrial enterprise earned cumulative net profit totaling 1.92 trillion yuan, an increase of 27.9 percent year-on-year.

Thirty-seven of the 39 broad industrial categories recorded increases in net profits.

Shares of Baoshan Iron and Steel (600019) were trading at 5.93 yuan at 11:00 today.