China-Singapore Jingwei client June 30 (Zhang Shunan) A few days ago, various provinces successively announced the total retail sales of consumer goods for January-May. According to the incomplete statistics of China-Singapore Jingwei client, the 27 provinces that have published data accumulated a year-on-year record It had negative growth, but the decline was narrower than in January-April. Hubei fell by 37.3% year-on-year, ranking the bottom in the country.
The growth rate of 15 provinces is better than the national level
New latitude and longitude in the data map
The total retail sales of consumer goods refer to the amount of physical goods sold by enterprises or units to individuals, social groups for non-production and non-business purposes, and the amount of income obtained by providing catering services. Usually, the main indicator for observing the consumption situation in various markets
The situation of domestic epidemic prevention and control continued to consolidate, and the consumer market continued to improve. From January to May, the total retail sales of social consumer goods was 13.873 trillion yuan, a nominal decrease of 13.5% year-on-year. In May, the total retail sales of consumer goods fell by a nominal 2.8% year-on-year, and the decline narrowed again by 4.7 percentage points on the basis of narrowing by 8.3 percentage points in April.
The Sino-Singapore Jingwei client card found that, except for Jilin, Heilongjiang, Xinjiang, and Hunan, which have not yet been announced, the total retail sales of consumer goods of the 27 provinces with data released in the first five months of the year showed negative growth. Among them, the growth rate of 15 provinces including Hebei, Zhejiang, Fujian, Jiangxi and Chongqing is better than the national level.
"As the national epidemic prevention and control situation continues to improve, residents' outing shopping and dining activities have accelerated and market sales have improved for three consecutive months." Zhang Min, a statistician at the Department of Foreign Trade and Economic Cooperation of the National Bureau of Statistics, analyzed.
Pan Helin, executive dean of the Digital Economics Research Institute of Zhongnan University of Economics and Law, said that in the short term, the current consumption voucher issuance, full discounts, and live broadcast promotions have basically met the people's needs to release consumer repression. However, in the long run, the coverage of consumption promotion still needs to be expanded, and consumption model innovation and consumption supply upgrade also need to be accelerated to allow consumption promotion and active consumption to work together to create a long-term sustainable consumption growth space.
Who sits firmly and promotes consumption "C position"?
New latitude and longitude in the data map
From the data point of view, although consumption data is not as good as expected, there is no lack of bright spots. When interpreting the total retail sales of consumer goods in May, Zhang Min said that in May, the retail sales of automotive products above the designated size increased by 3.5% year-on-year, the growth rate was the second highest since May 2018 (the highest value was the implementation of the switching of automotive emission standards Before June 2019).
Combining the data of various provinces, it is found that the automobile industry has become one of the main forces to promote consumption, and the retail sales of commodities in the automobile category in Tianjin, Inner Mongolia, Jiangxi, Hubei and other places have narrowed compared with January-April.
In the first five months of Inner Mongolia, the retail sales of automobiles above designated size fell by 21.0% year-on-year, a decrease of 6.3 percentage points from January to April. Automobile consumption, as a relatively large commodity in its consumer goods market, already accounts for 28.8% of the retail sales of units above designated size in the region, which has a greater impact on the growth of retail sales of products above designated size.
According to data released by Hubei, from January to May, the province’s auto retail sales of goods reached 34.791 billion yuan, a year-on-year decrease of 38.9%, a decrease of 9.9 percentage points from January to April.
In addition, in terms of a single month, Fujian’s retail sales of units above designated size in May changed from a 2.6% decline in April to an increase of 5.9%, driving retail sales above designated size by 1.3 percentage points. Yunnan said that the sales of automotive products started to increase from negative to positive in April, with a year-on-year increase of 6.2% in May, an increase of 4.4 percentage points from the previous month.
In addition to automobiles, the "house economy" has also become a new bright spot to boost consumption and expand domestic demand. From January to May this year, the national online retail sales of physical goods increased by 11.5% year-on-year, and the growth rate was 2.9 percentage points faster than that from January to April; the online retail sales of physical goods accounted for 24.3% of the total retail sales of social consumer goods, an increase of 5.4 from the same period last year Percentage points.
According to the data of various provinces, the retail sales volume of units above the designated size in Yunnan in May increased by nearly 70% year-on-year; the sales of goods by the enterprises (units) above designated size in May in Shaanxi reached 5.178 billion yuan, an increase 33.4%, an increase of 11.6 percentage points from April and 35.2 percentage points higher than the growth rate of retail sales of consumer goods of enterprises above the limit; Guangxi’s retail enterprises above designated size participating in online retail in January-May achieved an online retail sales of physical goods of 4.24 billion yuan, a year-on-year increase 91.3%.
The consumer market will gradually return to normal
Consumption is the ballast stone of economic growth. To stabilize the economic fundamentals, consumption must maintain a certain growth rate.
Introducing the operation of China's consumer market from January to May, the head of the Consumer Promotion Department of the Ministry of Commerce pointed out that since March, China's consumer market has continued to pick up month by month, but at the same time, the operating income of the catering and accommodation industry has dropped significantly year-on-year, indicating that consumption The overall recovery of the market still faces some pressure.
The National Development and Reform Commission spokesman Meng Wei mentioned that the next step is to vigorously tap the potential of releasing domestic demand. Focus on adapting, leading and creating new needs with high-quality supply, actively promote the replacement and recycling of home appliances and automobiles, and accelerate the development, improvement and promotion of new consumer formats, taking full advantage of central budget investment and local government special projects Bonds and anti-epidemic special treasury bonds spur the traction, and accelerate the construction of the short board.
Liu Zhe, deputy dean of the Wanbo New Economic Research Institute, believes that direct subsidies and transfer payments to enterprises can be increased to stabilize consumption; it is recommended to increase price subsidies for new consumer products such as smartphones and new energy vehicles to increase residents' current consumption Willingness to stimulate the need for product replacement; at the same time, by improving the market-oriented allocation of factors, new consumption dividends can be tapped.
Zhang Min emphasized that with the continuous promotion of the "six stability" work, the full implementation of the "six guarantees" task, and the implementation of the strategy of expanding domestic demand, the consumer market will gradually return to normal. (China-Singapore Jingwei APP)
All rights reserved by Sino-Singapore Jingwei. Without written authorization, no unit or individual may reprint, extract or use it in other ways.