China Q2 GDP growth at a three year low

The gross domestic product (GDP) of China in the first half of this year was 22,709.8 billion yuan, a year-on-year increase of 7.8 per cent, according to the National Bureau of Statistics.

The gross domestic product of the second quarter of 2012 went up by 1.8 per cent on a quarterly basis.

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The quarter-on-quarter growth of GDP in each quarter of 2011 and in the first two quarters of 2012 were 2.2 per cent, 2.4 per cent, 2.3 per cent, 1.9 per cent, 1.6 per cent and 1.8 per cent respectively.

China's agricultural production showed a good momentum with the total output of summer grain at 129.95 million tons, an increase of 3.56 million tons, up by 2.8 percent year-on-year.

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In the first half, the total value added (calculated at comparable price) of the industrial enterprises was up by 10.5 percent year-on-year, a decrease of 1.1 percentage points than that in the first quarter, or 3.8 percentage points lower than that in the same period of 2011.

In the first five months of this year, the profits made by industrial enterprises stood at 1,843.4 billion yuan, down by 2.4 percent year-on-year.

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In terms of investment, in the first half of the year, investment in fixed assets (excluding rural households) was 15,071.0 billion yuan, a year-on-year growth of 20.4 percent (a real growth of 18 percent after deducting price factors), or 0.5 percentage points lower than that in the first quarter, or 5.2 percentage points lower than that in the same period of 2011.

The total value of imports and exports in the first half of 2012 was $1,839.84 billion, a year-on-year growth of 8 per cent, which was 0.8 percentage points higher than that in the first quarter, or 17.8 percentage points lower than that in the same period of 2011.

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The total value of exports was $954.38 billion, up by 9.2 per #162 and that of imports was $885.46 billion, up by 6.7 per cent.

In the first half, the per capita total income of urban households was 13,679 yuan.

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Specifically, the per capita disposable income of urban households was 12,509 yuan, a year-on-year growth of 13.3 percent, or a real growth of 9.7 percent after deducting price factors, which was 2.1 percentage points higher than that in the same period of 2011.

The per capita cash income of rural households was 4,303 yuan, up by 16.1 per cent year-on-year, or 12.4 per cent in real terms, dropped by 1.3 percentage points than that in the same period of last year.