CONFIDENTIAL
機密
CRC INF 1/92
Summary of Major Developments in Hong Kong China Economic Relations in the Third Quarter of 1991
(CEC 13/91)
(1)
(2)
(3)
(4)
China's
economy remained buoyant in the third quarter
of 1991. In the first three quarters of 1991, China's
gross national product was estimated at Rmb 1,365
billion and gross industrial output at Rmb 1,707
billion, representing increases of 6.8% and 13.9%
respectively in real terms over the same period in
1990 (paragraph 2). The state-owned enterprises still
recorded the slowest increase in output compared with
enterprises of other ownership types. In view of
this,
the Chinese government had taken more decisive
steps to improve the efficiency of the state-owned
sector (paragraph 3).
The growth rates of output from the bottleneck sectors
like energy and certain key raw materials were again
lagging significantly behind overall industrial
growth.
This deficiency could hamper industrial
growth in due course (paragraph 4).
Both investment and consumption expenditures showed
significant growth in the first three quarters of the
year (paragraphs 5 and 6).
The buoyant economic activity caused the rate of
inflation to edge up during the third quarter of 1991,
but it averaged at only 2.5% for the first three
quarters as a whole. However, the inflationary
higher in the cities (paragraph
pressures were
7).
much
CONFIDENTIAL #2
機密