China Financial Daily

China’s energy consumption over the past 30 years the average annual growth of 5.5% is far lower GDP growth
China’s energy-saving campaign have achieved considerable economic benefits. National Development and Reform Commission disclosed today that since the reform and opening, China’s cumulative energy savings of about 1.38 billion tons of standard coal and reduce carbon dioxide emissions of about 3.1 billion tons. Three decades, an average annual rate of 5.5 percent of China’s energy consumption growth of 9.8 percent supported economic growth.

China has 1.3 billion population, and in the middle stage of industrialization, energy demand significantly, but China is not a major energy power. In the energy issue, China has long been a rainy day. After the founding of New China, especially in the last century the late seventies, early eighties, with the two world oil crisis set off a global energy conservation movement, China, formulated the “equal emphasis on development and conservation, the conservation priority “slogan.

The three decades since China’s energy-saving effectiveness of the most significant of a period of time. In 1978, the Chinese unit GDP energy consumption to 3.745 tons of standard coal / million; in 2008, compared with 1.1 years and two tons of standard coal / million, an average of 4 percent to reduce energy use improved efficiency.

Bank forecast: Third quarter GDP growth rate of 9%
According to Xinhua News Agency yesterday, Bank of Communications [11.10 -0.27%] Research Department released the report pointed out that the rebound in the second half of China’s economic growth momentum will continue to be upheld, and will further accelerate the expected third quarter GDP growth rate will reach 9%.

The report holds that the price is still down due to the recent passage of deflation pressures still exist, and this year is unlikely to form a significant inflationary pressures. China is expected to report third-quarter CPI, PPI negative growth will continue, but the drop will tend to narrow down. Year-on-year CPI growth in the fourth quarter is expected to turn negative to positive, while the PPI from negative to positive may be postponed until early next year.

The report pointed out that although the absolute increment of the second half of the credit will be decreased, but by the Government continue to invest in investment projects, project the proportion of capital adjustment, the real estate market and other factors continue to promote warmer, credit balances will continue to maintain a certain growth rate is expected to full – in new RMB loans reached from 9 to 10 trillion yuan, tend to optimize credit structure.

The report also for the second half of the monetary policy towards China is forecasted. “Taking into account the economic recovery of the foundation is not strong, rising asset prices, the risk of excessive, we expect that monetary policy will be returned to ‘moderate liberal’ intent, the relevant departments will be through open market operations, window guidance, the risk of prompt, standardized approach to credit behavior flexible and fine-tuning. “Report of person in charge, chief economist of Bank of Communications said Lianping.

Income outperform GDP growth in the first half of
Under the influence of the financial crisis, China’s urban and rural people’s income growth, in the first half more than the GDP. National Bureau of Statistics announced yesterday, the first half of urban residents per capita disposable income grew 11.2 percent, 8.1 percent by rural residents.

Gap between urban and rural areas

Bureau of Statistics said, as far as 65,000 urban households in sample survey data shows that the first half of urban residents per capita disposable income of 8856 yuan, an increase of 9.8%; deducting price factors, the actual growth of 11.2%.

In contrast, according to the country’s 31 provinces (autonomous regions and municipalities) 68,000 rural households in the sample survey, the first half of the per capita cash income of rural residents 2733 yuan, an increase of 8.1%, after deducting price factors, the actual growth is still 8.1%.

From last year comparing actual income and growth, the city of more than 11,110 yuan for rural residents of high, an increase of only 0.4 percentage points. The first half of this year, urban high-income than rural residents 6123 yuan, an increase of 3.1 percentage points high.