Zhongxin Finance, March 16 (Reporter Li Jinlei) The National Bureau of Statistics released the national economic report card from January to February on the 15th, and major economic indicators have rebounded.
The acceleration of industrial production, the acceleration of consumption growth, the acceleration of investment growth... One by one, it means that the Chinese economy is showing bursts of warmth.
Idyllic scenery.
China News Agency issued Li Ke Photo source: CNSphoto
These important economic indicators are accelerating!
Industrial production accelerated.
From January to February, the added value of industrial enterprises above designated size increased by 7.5% year-on-year, 3.2 percentage points faster than that in December 2021, and 1.4 percentage points faster than the average growth rate for the two years in 2021.
Investment growth accelerated.
From January to February, the national fixed asset investment (excluding rural households) was 5,076.3 billion yuan, a year-on-year increase of 12.2%, 7.3 percentage points faster than that in 2021, and 8.3 percentage points faster than the two-year average growth rate in 2021.
Consumption growth accelerated.
From January to February, the total retail sales of consumer goods was 7,442.6 billion yuan, a year-on-year increase of 6.7%, 5.0 percentage points higher than that in December 2021, and 2.8 percentage points higher than the two-year average growth rate in 2021.
Wen Bin, chief researcher of China Minsheng Bank, told China-Singapore Finance and Economics reporter that from the demand side, consumption has begun to bottom out.
Infrastructure investment has rebounded significantly, and more physical workloads are emerging by carrying out infrastructure investment moderately ahead of schedule.
Fu Linghui, spokesman of the National Bureau of Statistics and director of the National Economic Comprehensive Statistics Department, believes that under the combined effect of macro policies and market players, the momentum of my country's economic recovery in the first two months of this year is improving, which is the first quarter of this year. A good game has laid a solid foundation.
Employment and prices are within expected targets
In terms of employment, from January to February, 1.63 million new jobs were created in urban areas across the country.
The surveyed urban unemployment rate was generally stable.
From January to February, the national urban surveyed unemployment rate averaged 5.4%, lower than the expected target of less than 5.5%.
In terms of prices, consumer prices rose by 0.9% year-on-year from January to February, lower than the expected target of around 3%.
In particular, the price of pork dropped significantly. From January to February, the price of pork fell by 42.0% year-on-year.
The Ministry of Agriculture and Rural Affairs pointed out that due to the inertial growth of production, there are currently too many live pigs in my country. In addition, the demand for pork in the off-season after the Spring Festival has declined, and there has been a period of excess pork supply.
It is expected that the downward trend of pork prices will continue for a while, and the price of pigs in March and April may fall to the bottom of about 12 yuan per kilogram.
It can be seen that pork freedom is still appropriate.
Profile picture.
Photo by China News Agency reporter Wang Dongming
The downturn in real estate has eased
Since last year, due to multiple factors, the real estate market has experienced a certain downward trend.
Data show that from January to February, the sales area of commercial housing nationwide was 157.03 million square meters, a year-on-year decrease of 9.6%; the sales of commercial housing was 1,545.9 billion yuan, a decrease of 19.3%.
Fu Linghui pointed out that with the joint efforts of all parties, the real estate market has experienced positive changes in the continuous stabilization of land prices, housing prices, and expectations.
The downward trend in real estate has slowed down.
Judging from the housing price index, although the residential sales price index in 70 large and medium-sized cities in January fell month-on-month, the rate of decline was narrowing.
Wen Bin said that under the background of the successive introduction of policies such as stabilizing land prices, stabilizing housing prices, and stabilizing expectations, real estate investment is expected to achieve a soft landing.
What is the impact of the epidemic and the conflict between Russia and Ukraine?
It should be noted that the recent outbreak of the epidemic in many places, as well as the conflict between Russia and Ukraine, will have any impact on the Chinese economy?
Fu Linghui believes that the tightening of the epidemic situation in some areas will objectively have a certain impact on the recovery of the local economy.
However, from a national perspective, the national epidemic prevention and control situation is generally stable, and the economic operation has remained basically stable.
Regarding the impact of the conflict between Russia and Ukraine, Fu Linghui analyzed that Russia and Ukraine account for a small proportion of China's import and export trade, and the direct impact is limited.
Due to geopolitical changes, the impact on global commodity prices is still relatively obvious, and the pressure of domestic imported inflation may increase.
In the next stage, as all localities continue to adhere to the principle of stability at the forefront, seek progress while maintaining stability, and increase the guarantee of economic operation,
external influences can be controlled within a limited range.
Wen Bin suggested that my country's economic development is currently facing triple pressures and the external environment is complex and changeable. We need to maintain strategic focus and strengthen inter- and counter-cyclical adjustments.
To give full play to the dual functions of monetary policy tools in terms of volume and structure, measures such as RRR cuts and interest rate cuts can be taken in a timely manner to enhance the confidence of market players, stabilize and expand market demand, and ensure that the economy operates within a reasonable range.
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