China-Singapore Finance, March 15. The National Bureau of Statistics released data on the 15th showing that the recovery of the national economy from January to February was better than expected.
The national economy continued to recover steadily, production demand grew rapidly, employment prices were generally stable, new drivers continued to grow, and new progress was made in high-quality development.
1. Industrial production has accelerated, and high-tech manufacturing and equipment manufacturing have enjoyed good growth
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.
In terms of three categories, the added value of the mining industry increased by 9.8% year-on-year, the manufacturing industry increased by 7.3%, and the production and supply of electricity, heat, gas and water increased by 6.8%.
The added value of high-tech manufacturing and equipment manufacturing increased by 14.4% and 9.6% year-on-year, respectively, 6.9 and 2.1 percentage points faster than that of industries above designated size.
In terms of products, the output of new energy vehicles, industrial robots and solar cells increased by 150.5%, 29.6% and 26.4% year-on-year respectively.
In terms of economic types, the added value of state-controlled enterprises increased by 5.9% year-on-year; joint-stock enterprises increased by 8.4%, foreign-invested enterprises, Hong Kong, Macao and Taiwan-invested enterprises increased by 4.2%; private enterprises increased by 8.7%.
From a month-on-month perspective, the added value of industries above designated size in February increased by 0.34% over the previous month.
In February, the manufacturing purchasing managers' index was 50.2 percent, an increase of 0.1 percentage point from the previous month; the enterprise production and business activity expectation index was 58.7 percent, an increase of 1.2 percentage points.
2. The service industry continued to recover, and the modern service industry grew rapidly
From January to February, the national service industry production index increased by 4.2% year-on-year, 1.2 percentage points faster than that in December 2021, and 1.8 percentage points lower than the two-year average growth rate in 2021.
Among them, the production index of information transmission, software and information technology service industry increased by 16.3% year-on-year, and the production index of accommodation and catering industry increased by 8.2%.
In February, the service industry business activity index was 50.5 percent, up 0.2 percentage points from the previous month.
Among them, the business activity indexes of railway transportation, air transportation, postal express, culture, sports and entertainment industries all rose to a high prosperity range of over 57.0%.
In terms of market expectations, the service industry business activity expectation index was 59.6 percent, up 2.9 percentage points from the previous month.
3. Market sales rebounded, and sales of consumer upgrade products were active
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.
According to the location of the business units, the retail sales of urban consumer goods was 6,459.3 billion yuan, an increase of 6.7%; the retail sales of rural consumer goods was 983.3 billion yuan, an increase of 7.1%.
In terms of consumption types, the retail sales of goods was 6,670.8 billion yuan, an increase of 6.5%; the catering revenue was 771.8 billion yuan, an increase of 8.9%.
The sales of upgraded commodities grew rapidly, and the retail sales of gold, silver, jewelry, household appliances and audio-visual equipment, and cultural and office supplies for units above designated size increased by 19.5%, 12.7%, and 11.1%, respectively.
The sales of basic living commodities were good, and the retail sales of daily necessities and grain, oil, and food commodities of units above designated size increased by 10.7% and 7.9% respectively.
The national online retail sales reached 1,955.8 billion yuan, a year-on-year increase of 10.2%.
Among them, the online retail sales of physical goods was 1,637.1 billion yuan, an increase of 12.3%, accounting for 22.0% of the total retail sales of social consumer goods.
From a month-on-month perspective, the total retail sales of consumer goods in February increased by 0.30% over the previous month.
4. The growth of investment in fixed assets has accelerated, and the investment in high-tech industries has grown rapidly
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.
In terms of different fields, infrastructure investment increased by 8.1% year-on-year, manufacturing investment increased by 20.9%, and real estate development investment increased by 3.7%.
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%.
In terms of different industries, the investment in the primary industry increased by 8.8% year-on-year, the investment in the secondary industry increased by 19.6%, and the investment in the tertiary industry increased by 9.5%.
Private investment increased by 11.4%.
The investment in high-tech industries increased by 34.4%, of which the investment in high-tech manufacturing and high-tech service industries increased by 42.7% and 16.0% respectively.
In the high-tech manufacturing industry, investment in the electronics and communication equipment manufacturing, medical equipment and instrumentation manufacturing industries increased by 50.3% and 41.2% respectively; in the high-tech service industry, the investment in the information service industry and R&D design service industry increased by 26.3% and 26.3% respectively. 22.4%.
The investment in the social field increased by 19.1%, of which the investment in health and education increased by 29.3% and 19.8% respectively.
From a month-on-month perspective, fixed asset investment in February increased by 0.66% from the previous month.
5. The import and export of goods grew rapidly, and the trade structure continued to improve
From January to February, the total import and export of goods was 6,204.4 billion yuan, a year-on-year increase of 13.3%.
Among them, exports were 3,471.6 billion yuan, an increase of 13.6%; imports were 2,732.8 billion yuan, an increase of 12.9%.
Imports and exports were balanced, with a trade surplus of 738.8 billion yuan.
The import and export of general trade increased by 16.3%, accounting for 63.5% of the total import and export, an increase of 1.6 percentage points over the same period of the previous year.
The import and export of private enterprises increased by 16.1%, accounting for 48.2% of the total import and export, an increase of 1.1 percentage points over the same period of the previous year.
The export of mechanical and electrical products increased by 9.9%, accounting for 58.3% of the total export value.
6. The employment situation is generally stable, and the surveyed unemployment rate is basically stable
From January to February, 1.63 million new jobs were created in urban areas across the country.
In February, the national urban surveyed unemployment rate was 5.5%, an increase of 0.2 percentage points from the previous month and the same as the same period of the previous year.
The unemployment rate of the local household registration population survey is 5.5%; the unemployment rate of the migrant household registration population survey is 5.6%, of which the unemployment rate of the migrant agricultural household registration population survey is 5.6%.
The surveyed unemployment rates of the 16-24 and 25-59 age groups were 15.3% and 4.8% respectively.
The surveyed unemployment rate in 31 large cities and towns was 5.4%.
The national average weekly working hours of enterprise employees is 46.7 hours.
7. The consumer price rose moderately, and the year-on-year increase of industrial producer prices fell
From January to February, the national consumer price (CPI) rose by 0.9% year-on-year.
In terms of categories, the prices of food, tobacco and alcohol decreased by 1.8% year-on-year, the price of clothing increased by 0.5%, the price of housing increased by 1.4%, the price of daily necessities and services increased by 0.5%, the price of transportation and communication increased by 5.4%, the price of education, culture and entertainment increased by 2.7%, and the price of medical care increased by 0.5%. Health care prices rose 0.6 percent, while other supplies and services rose 0.1 percent.
Among food, tobacco and alcohol prices, pork prices fell by 42.0% year-on-year, grain prices rose by 1.5%, fresh fruit prices rose by 8.2%, and fresh vegetables prices fell by 2.1%.
The core CPI, which excludes food and energy prices, rose 1.2% year-on-year.
In terms of months, the national consumer price in January and February both rose by 0.9% year-on-year, and rose by 0.4% and 0.6% month-on-month respectively.
From January to February, the ex-factory price of industrial producers nationwide rose by 8.9% year-on-year.
On a monthly basis, in January and February, the national ex-factory prices for industrial producers rose by 9.1% and 8.8% year-on-year, respectively, down 0.2% and up 0.5% month-on-month.
From January to February, the purchasing price of industrial producers rose by 11.6% year-on-year.
In general, the economic recovery momentum was good in January-February.
At the same time, it should be noted that the external environment is still complex and severe, and my country's economic development faces many risks and challenges.
In the next stage, we must adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the spirit of the 19th National Congress of the Communist Party of China and the 19th Plenary Sessions, thoroughly implement the spirit of the Central Economic Work Conference and the deployment of the "Government Work Report", and adhere to the The general tone of China's work is to fully, accurately and comprehensively implement the new development concept, accelerate the construction of a new development pattern, comprehensively deepen reform and opening up, strengthen the drive for innovation, promote high-quality development, and keep the economy operating within a reasonable range.