China has fulfilled its plan to create 11 million jobs in 2019 in the first three quarters alone, exceeding job growth expectations, according to data released by China's National Bureau of Statistics
MOSCOW (Pakistan Point News / Sputnik - 18th October, 2019) China has fulfilled its plan to create 11 million jobs in 2019 in the first three quarters alone, exceeding job growth expectations, according to data released by China's National Bureau of Statistics.
In a comprehensive report detailing the many aspects of China's economy in the first three quarters of the year, the Bureau of Statistics also documented a thriving online retail market, which grew 16.8 percent compared to the same period last year, crossing the $1 trillion mark. Sales of physical goods online, in particular, grew by 20.5 percent to reach $816 billion.
Over the same period from January to September, disposable income per capita in China amounted to about $3,200, a growth of 8.8 percent from last year � a real growth of 6.1 percent adjusting to price factors.
At the same time, the report detailed positive indicators in the economy of rural China, closing the income gap with the urban population. Disposable income per capita experienced real growth of 6.4 percent, which outpaced overall economic growth, according to the report.
Investment into industries and fixed assets, usually long-term investments, is where the growth appeared slowest compared to last year. At 5.4 percent growth over the first nine months of this year � compared to 4.7 percent from 2018 � Chinese manufacturers took in $6.5 trillion in investments. The Primary industry saw a fall of 2.1 percent in investments, while secondary industry investments went up by 2 percent. At the same time, investment into the hi-tech industry went up by 12.6 percent.
Overall, the Chinese economy saw a modest growth against the backdrop of its trade war with the United States, but newly sealed deals with the White House have increased hopes of more tangible growth. The annual report on the first three quarters is a pulse-taker of the economy's averages, as the last quarter usually sees frantic economic activity with China's Single's Day, Black Friday and Christmas tipping the scales for retail and spending and other indicators.
