China News Client Beijing, June 15 (Reporter Li Jinlei) China's economy continues to recover!
The National Bureau of Statistics released China's economic data for May on the 15th. The main economic indicators such as consumption and investment continued to improve. The employment prices were generally stable and the economic operation continued to recover. Of particular concern is that the property and automobile markets are on fire first.
Data Map: A real estate building just completed. China News Agency reporter Zhang Binshe
Main economic indicators continue to improve
Let's first look at the performance of the "troika" of consumption, investment and export.
In terms of consumption, as the national epidemic prevention and control situation continued to improve, residents' outing shopping and dining activities accelerated and market sales improved for three consecutive months.
Data show that in May, the total retail sales of consumer goods fell by 2.8% year-on-year. The decline was narrowed by 8.3 percentage points in April, and narrowed again by 4.7 percentage points.
In terms of investment, the decline in investment has narrowed for three consecutive months. From January to May, national fixed asset investment (excluding farm households) fell by 6.3% year-on-year, a decrease of 4.0 and 9.8 percentage points from January to April and the first quarter respectively. The growth rate of investment in high-tech industries and social fields has changed from negative to positive.
In terms of exports, exports maintained positive growth. The total import and export of goods in May was 2,469.6 billion yuan, a year-on-year decrease of 4.9%. Among them, exports were 1.4562 trillion yuan, an increase of 1.4%.
Fu Linghui, a spokesman for the National Bureau of Statistics, pointed out that in May, the resumption of production, production, and business was fully promoted, production demand continued to improve, employment prices were generally stable, positive factors gradually increased, and the economy continued to show a recovery trend, which was generally in line with expectations. However, the economy has not returned to normal levels.
Data map: Customers buy vegetables in supermarkets. China News reporter Li Jinlei
Two major livelihood indicators of employment prices are stable
Let's look at the two major livelihood indicators of employment and prices.
Among them, the unemployment rate of the national urban survey in May was 5.9%, a decrease of 0.1 percentage point from April.
Fu Linghui analyzed that the main reasons for the survey's unemployment rate slightly decreased from April: First, the economic operation has gradually improved; second, the effect of the employment priority policy has appeared; and third, the situation of employee resumption has continued to improve.
In terms of prices, the national consumer price (CPI) in May rose by 2.4% year-on-year, a decrease of 0.9 percentage points from April, and returned to the "2 era" after an interval of 8 months.
Wen Bin, chief researcher of China Minsheng Bank, told reporters at Chinanews.com that overall, the domestic epidemic situation is generally stable, the resumption of production and the resumption of operations in an orderly manner, the market supply and demand conditions have improved, and inflation has further declined. In the next stage, with the comprehensive advancement of resumption of production and production, supply and demand are expected to maintain a balance, and the price level will remain stable, superimposing last year's CPI base higher, inflation levels will continue to show a downward trend, opening up more space for monetary policy.
Regarding the annual price trend, Fu Linghui pointed out that there are many conditions for keeping prices generally stable or steadily decreasing. It is more likely that the market price will drop in the later period. On the whole, the consumer prices of the whole year have been steadily decreasing, and the possibility of "being high before low" is high.
More than a thousand Chinese and foreign models were unveiled at the 2020 Chongqing International Auto Show. Photo by Chen Yuan
Revenge to buy a house or car first?
In May, the automobile market and the property market were relatively hot.
First look at car consumption.
Driven by the stability of the central and local governments and the promotion of automobile consumption policies, residents' demand for car purchases and car replacements has been continuously released, and sales in the auto market have picked up. This year's "May Day" holiday, Beijing, Shanghai, Changsha, Zhengzhou and other 4S stores have seen hot scenes.
The data also confirmed the fiery auto market. In May, the retail sales of automotive commodities above the designated size increased by 3.5% year-on-year, and the growth rate was the second highest since May 2018 (the highest value is June 2019 before the implementation of the automotive emission standard switching).
According to data from the China Association of Automobile Manufacturers, passenger vehicle sales in May increased by 7% year-on-year, and fell by 2.6% in April. According to data from the China Automobile Dealers Association, comprehensive sales of passenger cars in May increased by 1.8% year-on-year, compared with a decrease of 5.6% in April.
Information figure: Real estate. China News Agency reporter Zhang Binshe
The property market has also started to catch fire.
Wen Bin pointed out that the restrained supply of housing and demand for housing purchases were gradually released. The major urban real estate market ushered in the delayed Xiaoyang Spring. The sales area of commercial housing and the area of newly constructed housing continued to improve.
The decline in the area and value of commercial housing sales has narrowed significantly. From January to May, the sales area of commercial housing nationwide was 487.03 million square meters, a year-on-year decrease of 12.3%; the sales of commercial housing were 4,692.9 billion yuan, a decrease of 10.6%, and the declines were 7.0 and 8.0 percentage points narrower than those from January to April.
Mortgage continues to increase. In May, medium- and long-term loans, mainly personal mortgage loans, increased by 466.2 billion yuan, a substantial increase from 438.9 billion yuan in April.
The land market continues to heat up. Statistics from the Central Plains Real Estate Research Center show that in May, Shenzhen, Guangzhou, Beijing and other cities continued to see high prices. Looking at the data as a whole, there are 48 plots with more than 2 billion plots.
House prices have risen. National statistics show that in May, housing demand was further released, and real estate market prices in 70 large and medium-sized cities rose slightly. The increase in the sales price of newly built commercial housing in all tier cities has slightly expanded, and the increase in second-hand housing is the same as last month or slightly expanded.
Among them, the sales prices of newly built commercial housing in four first-tier cities rose by 0.7% month-on-month, and the increase was 0.5 percentage points higher than last month. Second-hand residential sales prices rose 1.1% month-on-month, the same rate as last month, with Beijing, Shanghai, Guangzhou and Shenzhen up 1.8%, 0.6%, 0.4% and 1.6% respectively.
According to Zhang Dawei, the chief analyst of Centaline Real Estate, from the data of housing prices in 70 cities across the country, the prices of newly-built houses in 57 cities have risen, which is the same as the highest point in the third quarter of 2019; second-hand housing has risen in 41 cities, since September 2019 The highest point.
"Overall, Xiaoyangchun, a property market in first- and second-tier cities across the country, has appeared." Zhang Dawei said. (Finish)