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NBS: Data shows no evidence for 'retreat of private sector'

08-02-2010 16:31 BJT

According to China's National Bureau of Statistics (NBS), there is no data to support the theory that state-owned enterprises are expanding while the private sector is shrinking.

Some people believe that as state-owned enterprises are acquiring private enterprises in certain fields, the trend in China's economic situation is shifting toward the retreat of the private sector.

In the first half of this year, among all industrial enterprises above the designated size (state-owned and non-state-owned enterprises with an annual sales revenue of over 5 million yuan) in China, the production volume of state-owned and state-holding enterprises rose nearly 18 percent from last year, while the production volume of non-state-owned enterprises and private enterprises rose 18 percent and nearly 21 percent, respectively. The non-state-owned economy is still developing faster than state-owned economy.

Statistics from the NBS show that the proportion of the state-owned economy in industry decreases year by year. Among all industrial enterprises above the designated size, the unit volume, gross output value, total assets and profits of the state-owned and state-holding enterprises fell by more than 5 percent, nearly 7 percent, more than 4 percent and more than 17 percent, respectively, from 2005 to 2009.

By contrast, the proportion of the non-state-owned economy in industry has gradually increased in recent years. The unit volume, gross output value, total assets and profits of non-state-owned enterprises increased more than 13 percent, 10 percent, more than 6 percent and nearly 14 percent, respectively.

In addition, investments have been an important driving force of China's economic development in recent years. Statistics show that the proportion of private investments has exceeded 50 percent of the total investments in Chinese cities for the first time since the first quarter of 2010.

The growth rate of investments by state-owned and state-holding enterprises in the first half of 2010 fell to nearly 22 percent, compared with the more than 27 percent in the first two months of 2010, while the monthly growth rates of private investments all exceeded 30 percent since early 2010.

Statistics on domestic trade show that the proportion of non-state-owned enterprises continued to increase in recent years and has accounted for the absolute majority. The non-state-owned economy, represented by the self-employed private economy, has rapidly and gradually evolved into the main body of China's economy.

The result of the second national economic census shows that in 2008, non-state-owned enterprises accounted for more than 96 percent of China's 1.4 million wholesale and retail corporate enterprises, and the total sales and assets of the non-state-owned enterprises accounted for more than 67 percent and more than 70 percent of the 1.4 million total enterprises, respectively.

Meanwhile, the number, sales, and assets of non-state-owned enterprises accounted for nearly 92 percent, more than 83 percent, and nearly 72 percent of 145,000 accommodation and catering corporate enterprises, respectively, and the proportion of state-holding enterprises in domestic trade continued to decline in 2009. The data does not include self-employed laborers. Otherwise, the proportion of the non-state economy would be even higher.

Editor:Xiong Qu |Source: People's Daily

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