Turn right! Turn right! China's economy draws an upward curve
2020 is an extraordinary year.
The unprecedented outbreak of new crown pneumonia in a century has caused the world economy to fall into a severe recession, and the external environment has brought huge challenges.
But this year, the Chinese economy has withstood the stress test.
China has become the first major economy to resume growth since the outbreak, which not only demonstrates the characteristics of sufficient economic resilience, strong vitality, large room for maneuver, and multiple policy tools, but also contributes to the global economy.
This year, we have experienced too many unforgettable moments, and “turning to a positive” should be the key word of China’s economy.
From GDP to investment, consumption, and exports, to industry, catering, and automobiles, one after another "regular" news has re-established people's confidence and hope.
Only with difficulty can we show more courage; only with hard work can be precious.
Let us look back at the moment of "turning to positive" this year and review the pace of China's economic recovery.
Time: April Industrial
Speed up the workshop
In April, the value-added of industrial enterprises above designated size increased by 3.9% year-on-year in real terms, and the growth rate of the month turned from negative to positive. In the first 8 months, the value-added of industries increased by 0.4% year-on-year, and the cumulative growth rate turned from negative to positive.
With the in-depth coordination of epidemic prevention and control and economic and social development, industrial production has shown steady growth and overall improvement. By November, the growth of industrial products continued to expand, and the growth rate of high-tech manufacturing rose to a new high during the year. The growth rate of manufacturing and consumer goods manufacturing has accelerated, the raw material industry has grown steadily, and the export of industrial products has risen sharply.
In November, among the 612 major industrial products, 439 products achieved year-on-year growth, with an increase of 71.7%, and the scope continued to expand.
Time: Second quarter GDP
Will break 100 trillion yuan throughout the year
3.2%, the second quarter GDP achieved positive growth!
0.7%, the cumulative GDP growth rate in the first three quarters turned from negative to positive!
"Right now!" "Right now!" The good news was swiped on the screen one after another.
Under complicated circumstances, China’s economy has shown a beautiful upward curve: GDP shrank by 6.8% in the first quarter, grew by 3.2% in the second quarter, and rebounded to 4.9% in the third quarter. The economic operation improved quarter by quarter and gradually returned to normal. Will exceed 100 trillion yuan.
The report issued by the International Monetary Fund predicts that the global economy will shrink by 4.4% in 2020, and China will be the only major economy in the world that will achieve positive growth.
"The global economy needs the support of the Chinese economy more than ever." "China's economic growth continues. This is a gift to the world economy!" "China provides huge market opportunities for the development of various regions"... Foreign media and institutions commented on the steady recovery of the Chinese economy.
Time: Service industry in May
Production and life "hot"
In May, the production situation of the service industry improved significantly. The service industry production index increased by 1.0% year-on-year, achieving positive growth for the first time this year; from January to October, the operating income of service industry enterprises above designated size increased by 0.3% year-on-year, and the growth rate changed from negative to positive for the first time in the year .
By November, the national service industry production index increased by 8.0% year-on-year.
From the perspective of the industry, the business activity index of railway transportation, air transportation, telecommunications, broadcasting and television satellite transmission services, and financial industry is in the high-level range of more than 60.0%.
In terms of market expectations, the service industry business activity expectation index is 61.1%, which has been in the high boom range above 61.0% for five consecutive months.
Both the producer service industry and the life service industry are improving, indicating that the balance of the entire economic recovery has improved.
Time: Export in June
Inject vitality into world economy and trade
Both exports and imports achieved positive growth in June; in the first three quarters, cumulative imports and exports achieved positive growth.
On a quarterly basis, in the first, second, and third quarters of this year, the growth rates of imports and exports were -6.5%, -0.2%, and 7.5% respectively. The total value of imports and exports, total exports, and total imports in the third quarter all hit quarterly historical highs.
Under various policies, the government, industries, and enterprises have formed a strong synergy to demonstrate China's strong foreign trade resilience and comprehensive competitiveness.
China has exported epidemic prevention materials to more than 200 countries and regions and has taken concrete actions to deepen international cooperation in epidemic prevention and control.
The rapid restoration of production order meets the home life and work needs of people from all countries during the epidemic, and promotes the stable operation of the international industrial chain supply chain.
China's imports accounted for a 0.8% increase in the global share, injecting vitality into world economic and trade cooperation.
Time: Second quarter investment
New momentum can be expected in the future
The epidemic has had a huge impact on China's economy, and investment growth has fallen sharply in the first quarter.
In response to a series of stable investment policies, the investment growth rate in the second quarter turned from negative to positive, increasing by 4.8%, an increase of 20.9 percentage points from the first quarter.
In the first three quarters, fixed asset investment increased by 0.8% year-on-year, and the cumulative growth rate turned from negative to positive.
From January to November, fixed asset investment increased by 2.6% year-on-year, and the growth rate was 0.8 percentage points higher than that from January to October.
At the same time, by November, the growth rate of private investment has turned positive for the first time in the year, indicating that the endogenous growth momentum of the market is strengthening and market entities are expected to improve.
What is more striking is the leading role of new kinetic energy.
Under the impact of the epidemic, the driving force for industrial transformation and development has accelerated significantly, and new momentum represented by the Internet economy has grown against the trend.
In the first three quarters, investment in high-tech industries increased by 9.1%, an acceleration of 2.8 percentage points. New momentum can be expected in the future.
Time: August consumption
Steady recovery is continuing
In August, the total retail sales of consumer goods achieved positive growth for the first time this year; in the third quarter, final consumption expenditures drove up GDP by 1.7 percentage points, turning positive for the first time this year.
Long-lost neighborhoods regained their popularity, and familiar cities and streets gradually returned to their original appearance.
Under the epidemic, consumption also has new bright spots.
From January to November, the national online retail sales increased by 11.5% year-on-year, and the online retail sales of physical goods accounted for 25% of the total retail sales of consumer goods. New business formats are developing rapidly.
Sales of upgraded products are also growing rapidly.
In November, the sales of communication equipment products above the designated size increased by more than 40%, and the growth of cosmetics, gold and silver jewelry, and sports and entertainment products were all by more than 20%. The consumption field was heated up.
Time: Third quarter revenue
Guarding residents' "money bags"
In the first three quarters, the actual per capita disposable income of residents nationwide was 23,781 yuan, an actual increase of 0.6% after deducting price factors, turning negative to positive.
This year, the social security is particularly strong. In the first three quarters, the national per capita pension and retirees increased nominally by 8.7% year-on-year, per capita income from social relief and subsidies increased by 12.9%, and per capita income from policy subsistence increased by 11.1%. Relatively fast growth, and much higher than the overall income growth rate of residents.
In the future, we must adhere to the strategic basis of expanding domestic demand, and we will continue to make efforts to increase residents' income and improve the consumption environment, so as to increase residents' pockets.
Time: October meals
"Fireworks" is back
The national catering revenue in October was 437.2 billion yuan, a year-on-year increase of 0.8%, and the growth rate turned positive for the first time this year.
"The long-lost fireworks are back again!" "This is what we all eat out of one meal!" For a while, catering consumption became a hot topic.
Behind the recovery of catering consumption is not only the hope of store operations, but also the precious consumer confidence of ordinary people.
In fact, from the perspective of the number of domestic tourists, tourism income, box office and other aspects, it shows that everyone's consumer confidence is increasing.
Orders for online take-out, offline "unmanned" restaurants... Various anti-epidemic measures have been adopted in many stores.
Recently, many restaurants have once again put up signs for recruiting hourly workers and dishwashers. They are making every effort to prepare for the Spring Festival!