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Mining investment down 10% in 2017
Feb 02, 2018

Mining investment down 10% in 2017

According to the latest statistics released by the National Bureau of Statistics of China, the national economy in 2017 witnessed steady growth better than expected. It is understood that, as a basic industry of national economy, mining industry has made further progress in its transformation and upgrading, and a change has been made.


According to Ning Ji Zhe, director of the National Bureau of Statistics, last year's economic performance remained at a reasonable range. All four major macroeconomic indicators were steady-going and better-than-expected. Real GDP growth in 2017 was 6.9%, with more than 13 million new jobs in cities and towns. The National Bureau of Statistics also plans to formally announce the unemployment rate of urban areas surveyed later this year. The urban unemployment rate in December was below 5%, at 4.98%. From the price perspective, the annual CPI rose 1.6%, also better than expected. Judging from the balance of payments, the country's foreign exchange reserves at the end of nearly 314 billion U.S. dollars.


In 2017, the output of major mineral products will maintain steady growth. Raw coal output of 3.45 billion tons, an increase of 3.2%. Crude oil output 190 million tons, down 4%. The output of natural gas reached 147.42 billion cubic meters, up by 8.5% over the same period of last year. Ten non-ferrous metals production 53.78 million tons, an increase of 3%.


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