Confidence! Recognition! Strong! A number of data ＂gold content＂ highlights the new vitality of China economy
CCTV News:According to the latest data released by the National Bureau of Statistics, in May, driven by the sustained release of macro-policy effects, the improvement of external demand and the May Day holiday, the service industry, consumption, import and export rebounded, industrial production maintained rapid growth, transformation and upgrading continued to advance, and China’s economy continued to pick up.
Consumption accelerates, domestic demand recovers, and domestic demand drives continuous activation.
The fundamentals are very important when the economy is unstable. In May, the driving force of domestic demand continued to activate, and the total retail sales of social consumer goods reached 3,921.1 billion yuan, up 3.7% year-on-year, 1.4 percentage points faster than last month.
Investment in manufacturing and high-tech industries grew rapidly.
In the first five months, the national investment in fixed assets (excluding farmers) was 18.8 trillion yuan, a year-on-year increase of 4%. Among them, investment in manufacturing industry and high-tech industry increased by 9.6% and 11.5% respectively.
External demand continued to improve. In May, the total import and export volume of goods increased by 8.6% year-on-year, 0.6 percentage points faster than last month. In the first five months, the import and export scale of goods reached a record high in the same period.
With the continuous release of macro-policy effects, in May, the added value of industrial enterprises above designated size increased by 5.6% year-on-year, and 90% of regions and 80% of industries achieved growth. The service industry production index increased by 4.8% year-on-year, 1.3 percentage points faster than last month.
New quality productivity highlights new kinetic energy and vitality of economy
Many indicators related to the quality of development highlight the new kinetic energy and vitality of the economy. In the first five months, the investment in purchasing equipment and tools increased by 17.5% year-on-year, and the investment in technological transformation of manufacturing industry increased by 10% year-on-year, which will greatly stimulate the new quality productivity in traditional manufacturing industry.
International institutions have raised China’s economic growth expectations.
Recently, the World Bank, the International Monetary Fund and other international organizations and institutions have raised China’s economic growth expectations. Liu Aihua said that although the external environment is complicated and changeable and the domestic economy is facing some difficulties and challenges, the fundamentals of China’s economic recovery and long-term improvement have not changed.
From the perspective of production, innovation kinetic energy has been continuously cultivated and enhanced, and industrial transformation and upgrading have been solidly promoted; From the demand point of view, with the implementation of consumption promotion policies and the innovation and expansion of consumption scenarios, consumption potential is expected to be further released.
Expert: The policy continues to exert its strength in expanding demand.
Experts believe that looking forward to the next stage, external demand will continue to maintain resilience, and exports will maintain rapid growth in the short term, which will boost the formation of related industrial chains. Policies continue to play a role in expanding demand, especially fiscal policy, which has sufficient room for development and is expected to play a supporting role.
China’s economy continues to pick up and improve.
The World Bank recently released the China Economic Briefing, which raised China’s economic growth forecast by 0.3 percentage points in 2024. On June 17th, the National Bureau of Statistics introduced the operation of the national economy in May, and various economic indicators continued to rise to a good trend, which attracted public attention.
South Korea’s "Asian Economy": Export growth rate hit a new high.
The article points out that since 2024, China’s foreign trade has gone out of a very difficult rebound curve, and external demand has continued to recover. Data show that in May, the total import and export volume of goods in China increased by 8.6% year-on-year. In May, the export growth rate hit a new high since 2024, and the competitiveness of China’s commodities is still very strong. The analysis pointed out that the export data grew steadily, far exceeding the market expectation, and the trade surplus expanded, showing the very strong development momentum of China’s export industry.
Pakistan’s "National Daily": The consumer market is gradually picking up.
In May, China’s consumer price index rose for the fourth consecutive month, and China’s domestic consumer market showed signs of recovery. More and more people chose to travel and eat. The latest consumer confidence survey shows that during the Dragon Boat Festival holiday, the overall number of travelers is considerable, highlighting the vitality of China’s domestic consumer market. The China Municipal Government has also introduced a trade-in policy to encourage consumers to upgrade household appliances at preferential prices, and at the same time allow industrial enterprises to replace old machines with new ones.
Sin Chew Daily, Malaysia: Strong domestic demand.
In May, the total retail sales of social consumer goods, as a "barometer" of consumption, increased by 3.7% year-on-year, and the retail boom index maintained growth, and offline consumption steadily picked up, indicating that the consumer market in China continued to improve. The traditional physical retail industry in China actively promotes reform and innovation, and promotes a more balanced relationship between supply and demand. The retail market is expected to achieve steady growth. The basic role of consumption in driving China’s economic growth continues to increase, and China’s economy will usher in more strategic opportunities.
Hong Kong’s South China Morning Post: Macro-policy effects continue to be released.
The article pointed out that in May, the added value of industrial enterprises above designated size increased by 5.6% year-on-year, and 90% of regions and 80% of industries achieved growth. Many authoritative organizations have raised their forecasts for China’s economic growth, showing their recognition of China’s "high-quality" economic growth. The upward forecast is mainly based on objective economic data and a series of measures taken by China government to promote economic growth. A more balanced and comprehensive policy is an important guarantee for China’s sustained economic recovery.