In the first 2 months, total retail sales of consumer goods increased by 5.5% year-on-year, and total imports and exports of goods increased by 8.7%; in February, the urban survey unemployment rate fell by 0.3 percentage points year-on-year; in March, China's manufacturing Purchasing Managers' Index (PMI) returned to the expansion zone ......
In the crucial year of realizing the objectives and tasks of the "14th Five-Year Plan", China's economy has achieved an "open door". Recently, the domestic market is expected to continue to improve, the consumer market spring tide, the economy rebound to good posture distinct; a number of foreign media also released reports, optimistic about China's development potential. Singapore's Lianhe Zaobao reported that "the latest PMI data returned above the glorified line, indicating that China's economy has found a new growth engine."
At the end of the first quarter, the reporter combed through the published economic indicators, in-depth field to touch the pulse of economic development, from a variety of dimensions to observe China's economic operation, perceive the confidence of economic and social development.
(i)Economic performance starts steady and rises steadily
Entering March, spring plowing production is in full swing from south to north. Walking in the field, from the driverless plowing machine to the intelligent seedling center, all over the effort to science and technology to food, in the field sowing the hope of a good harvest.
Food security is the "country of greatness", is the chassis of economic development. According to the Ministry of Agriculture and Rural Development, as of April 8, the national spring sowing of grain to complete the intention of the area of 11%, spring sowing of grain intention of the area of a steady increase over the previous year.
Since the beginning of this year, all regions and departments have been working hard, and all industries have been making progress, promoting high-quality development with a new atmosphere and new actions. Major economic indicators that have been released show that China's economy has made a steady start and is rising steadily:
--Macroeconomically.In the first 2 months, fixed asset investment grew by 4.2% year-on-year, of which the growth rate of private investment turned from negative to positive; retail sales of services grew by 12.3%; total import and export of goods grew by 8.7%, of which exports grew by 10.3%, and the national economy continued to rebound to a better position.
Balance of payments, reflecting a country's influence on the world economy. As of the end of March, the size of China's foreign exchange reserves amounted to 324.57 billion U.S. dollars, up 0.62% from the end of February.
--From industry performance.In the first two months, the national industrial enterprise profits above designated size from the previous year annual decline of 2.3% to year-on-year growth of 10.2%; service industry production index growth of 5.8%, most of the industry development continues to restore the good trend.
New kinetic energy products grow faster. In the first 2 months, the value added of equipment manufacturing industry above scale increased by 8.6% year-on-year, and the value added of high-tech manufacturing industry increased by 7.5%; the output of new energy vehicles, charging piles and other products increased by 25.6% and 41.8%, respectively, and the output of smartphones increased by 31.3%.
From the commercial maiden voyage of the first domestic large-scale cruise ship "AIDA - Mordor" to the first flight of the independently developed AG60E electric aircraft, this year, one after another major projects have come with good news, which is a vivid portrayal of the accelerated cultivation of China's new quality productivity.
"The company's research and development of new drugs following the completion of the third phase of the domestic stroke clinical breakthrough in the asymptomatic disease, has completed the bioequivalence test, is scheduled for June this year in the U.S. FDA to submit a new drug listing application." Suzhou Auzong Biotechnology Co., Ltd. said that another indication for this new drug is childhood autism, is expected to break the global children's autism field "no drug available" status quo.
-- from the point of view of business development.In March, the manufacturing PMI rose to 50.8% after five consecutive months of contraction, in which the PMI of medium-sized and small enterprises rose to 50.6% and 50.3%, respectively, both of which rose to the expansion zone for the first time in 12 months, indicating that the market confidence has been steadily picking up.
More indicators to convey the enterprise operation to the good signal: in March, technology innovation-oriented enterprise business vitality index increased by 27.9% year-on-year, entrepreneurial enterprise business vitality index increased by 14.6% year-on-year ......
(ii)Internal dynamic energy accumulation and enhancement of development vitality continues to show
Station airport crowded, long lines in front of restaurants, popular scenic spots hard to find a ticket ...... Just past the Qingming holiday, domestic tourism outings 119 million people, domestic tourists spent 53.95 billion yuan, according to a comparable caliber than the same period in 2019, respectively, increased by 11.51 TP3T, 12.71 TP3T.
South to north, eastbound and westbound, lively and red-hot travel and consumption scenes, releasing a strong warmth of China's economy to speed up the repair of internal energy.
Back to the expansion zone - In March, China's logistics industry sentiment index was 51.5%, up 4.4 percentage points from the previous month.
"With the acceleration of the resumption of work and production, the upstream and downstream activities of the supply chain tend to be active, leading to the acceleration of the recovery of logistics demand, the total business index, the new order index and other indicators have rebounded." He Hui, chief economist of China Federation of Logistics and Purchasing, said.
Transportation and logistics is the economic cycle "artery". This year, the transportation and logistics industry, a number of statistical indicators to achieve positive growth. In the first two months, the volume of operating passenger traffic increased by 27.4%, freight traffic increased by 7.5%, the postal industry, the volume of mail delivery business increased by 25.1%.
"With the gradual repair of the economy's internal energy, the flow of people and logistics factors has become more active, which is conducive to the gradual improvement of the economic cycle." Liu Aihua, spokesman for the National Bureau of Statistics, said.
Looking at the consumer market, the potential of service consumption is released, and new consumption patterns emerge with vitality--
This year, from "Erbin" ice and snow tour hot, to Gansu Tianshui spicy hot "hot out of the circle", an IP emerges, the consumer scene continues to be new.
The main engine of consumption has strong momentum. In the first two months, total retail sales of consumer goods increased by 5.5% year-on-year. in terms of new growth points in consumption, digital music, energy-saving washing machines and ski equipment and other digital, green and health goods increased by 95.1%, 167.5% and 66.4% respectively.
Driven by faster growth in consumer demand, prices stabilized and rebounded. in February, the national consumer price index turned from a year-on-year decline of 0.8% in the previous month to a rise of 0.7%; the year-on-year increase of 1.0%. in March, China's commodity price index rose by 0.6% year-on-year.
According to the National Information Center, in the first quarter, the offline business district crowd heat index, life service consumption heat index increased by 9.9% and more than 30% year-on-year respectively.These intuitive reflection of the economic operating situation of the "high-frequency indicators" show that the consumption of a stable and improving trend continues to be consolidated.
(iii) Continuous release of the "magnetic attraction" of the big market provides new opportunities for the world.
On the morning of March 24, the Diaoyutai State Guesthouse in Beijing was filled to capacity for the first symposium of the China Development Forum (CDF) 2024 Annual Meeting, which focused on "China's momentum and prospects for sustained development".
Gaisin, president of Synopsys, who attended the China Development Forum for the first time, said that China has been one of the fastest-growing markets in the world for Synopsys over the past 10 years, and that this time the company participated in the annual meeting in the hope of finding new opportunities for cooperation in technological innovation and talent cultivation in future industries such as artificial intelligence.
Recently, from the Boao Forum for Asia, China's new development opportunities have become the focus of attention, to the "Invest in China" first landmark event attracted more than 140 entrepreneurs and representatives of foreign business associations in China, to the Apple CEO Tim Cook and other multinational corporations, such as more than one hundred heads of the intensive visit to China, the U.S. Secretary of the Treasury, Yellen, visit to China. The "magnetic attraction" of the Chinese market continues to be released, strongly boosting global development confidence.
In the same period last year on the basis of a high base, the first two months of this year, China's actual use of foreign capital amounted to 215.09 billion yuan, although a decline, but still in the last 10 years, the third highest. The structure of attracted capital continues to optimize, high-tech industries attracted 71.44 billion yuan, accounting for the proportion of the actual use of foreign capital amounted to 33.2%.
From the perspective of the general trend of future development, China's economy has strong resilience, great potential and sufficient vitality, and the basic trend of rebounding and improving in the long term will not change, and will continue to provide new opportunities for the world with China's new development -
This is a vibrant consumer market: the world's second largest consumer market, the first largest online retail market, more than 1.4 billion people in the elderly care, culture, tourism and sports, green living and other consumer quality and expansion potential.
This is a hot spot for investment with huge space: as of the end of February, the total number of 5G base stations in China reached 3,509,000, and the integration of digital technology and the real economy has broad prospects. At the same time, the per capita infrastructure capital stock is only 20% to 30% of developed countries, and there is a vast space for investment in optimizing structure and replenishing short boards.
A more open and high-quality developing China will continue to power world economic growth:
The Fourth Consumer Fair has attracted more than 3,000 brands from 59 countries and regions; the 135th Canton Fair has 93,000 buyers from 215 countries and regions to complete the pre-registration, more than 220 head enterprises and industrial and commercial institutions to confirm the organization of delegations to participate in the same period of the previous scale of both ......
"China's economy rebounded strongly after the epidemic in 2023 with a growth rate of more than 51 TP3T, and China will continue to be an important contributor to global growth in the future." International Monetary Fund Managing Director Georgieva said.
