First-quarter economic data released - China's economy has a stable and resilient start
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General Secretary Xi Jinping emphasized: "Although the international and domestic situation has undergone profound and complex changes, the fundamentals of my country's economy have remained stable and sound in the long run. The basic characteristics of many have not changed, and the many advantages and conditions of my country's development have not changed."
Since the beginning of this year, all regions and departments have implemented the decisions and deployments of the CPC Central Committee, and in the face of some unexpected changes in the international and domestic environment, they have insisted on taking the lead, making progress while maintaining stability, taking the initiative, overcoming difficulties, actively responding to difficulties and challenges, and striving to maintain economic performance. Generally within a reasonable range.
Practice has proved that we have strong determination, firm will, and solid national strength to face challenges, and we have full confidence and confidence to maintain a good momentum of economic and social development.
Starting today, this newspaper has launched a column of "Steady as the Head, Seeking Progress in Stability, and the Fundamentals of the Economy's Long-term Improvement Has Not Changed". It focuses on the overall situation, overcomes difficulties based on changes, objectively and dialectically analyzes the current economic situation, and unites to forge ahead and overcome the times together. We have the confidence and determination to overcome risks and challenges and stabilize the macroeconomic market.
In the face of triple pressures and multiple challenges, this year, China's economy will take the lead, seek progress while maintaining stability, and rise to the challenge with sonorous footsteps.
From the water town in the south of the Yangtze River to the granary in the Central Plains, agricultural machinery shuttles back and forth, and green waves appear in the fields.
On April 18, the first quarter economic data was released.
In the first quarter, the added value of the primary industry increased by 6.0% year-on-year, the spring ploughing and spring management progressed steadily and orderly, and the granary of a big country was full of confidence.
BMW Group increased its capital by 27.9 billion yuan, increasing its stake in BMW Brilliance from 50% to 75%; reports from the German Chamber of Commerce in China and the American Chamber of Commerce in China show that 71% of German-funded enterprises and 2/3 of US-funded enterprises hope Increase investment in China... In the first quarter, in US dollar terms, my country's actual use of foreign capital increased by 31.7% year-on-year, and foreign investment was "opened steadily".
The "Hualong No. 1" demonstration project was fully completed and put into operation, and the world's largest pure electric cruise ship "The Three Gorges of the Yangtze River No. 1" made its maiden voyage... In the first quarter, investment in high-tech industries led with a growth rate of 27%, and major projects were advanced in an orderly manner.
General Secretary Xi Jinping pointed out, "Despite the enormous pressure brought by changes in the economic environment at home and abroad, the fundamentals of China's economy with strong resilience, ample potential and long-term improvement have not changed. We are full of confidence in the future of China's economic development." How the situation changes, we must unswervingly do our own thing, constantly strengthen the economic foundation, enhance the ability of scientific and technological innovation, and enhance the comprehensive national strength."
Not afraid of floating clouds covering the eyes, the chaotic clouds fly across still calmly.
In the face of the increasingly complex and severe international environment and the multiple challenges brought about by the frequent domestic epidemics, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core, the national economy continued to recover and develop in the first quarter, and the economy started off generally stable.
Stability is at the forefront, the main macro indicators remain within a reasonable range, and the 4.8% growth rate is hard-won
In the first quarter, GDP grew by 4.8% year-on-year.
Is such a low GDP growth rate?
Is China's economy still stable?
——From an overall perspective, this 4.8% is the growth achieved when the world has entered a new period of turbulent changes, and China's economy has achieved stability.
Viewed in a global context.
At the beginning of 2022, the international situation will continue to undergo profound and complex changes. The century-old changes and the epidemic of the century are intertwined, and the world has entered a new period of turbulence and change.
At the beginning of the year, the International Monetary Fund (IMF) lowered its forecast for global economic growth this year by 0.5 percentage points to 4.4%, and recently said that the impact of the conflict between Russia and Ukraine will lead to the economic growth forecast of 143 economies this year being lowered again. .
In the face of such a complex external environment, we not only remain awake to "change", but also maintain our concentration in "stability".
"In the face of a more complex and severe external environment and increasing downward pressure, we put 'stabilizing growth' in a more important position, put policy efforts at the forefront, and enhance the effectiveness of various macro policies to ensure the smooth operation of the economy in the first quarter. , use development to resolve risks and challenges in economic operation. This 4.8% growth rate is hard-won." said Guo Liyan, director of the Comprehensive Situation Research Office of the China Academy of Macroeconomics.
——From a dynamic point of view, this 4.8% is the growth achieved by minimizing the impact of the epidemic on economic and social development. China continues to coordinate development and security.
Recently, many provinces in my country are facing a situation of epidemic prevention and control, which is dominated by Omicron mutants in many places at the same time, and the prevention and control situation is severe and complicated.
In the face of the severe and complex epidemic prevention and control situation, we have improved various emergency plans and strictly implemented normalized prevention and control measures to minimize the impact of the epidemic on economic and social development.
In the first quarter, the GDP increased by 4.8% year-on-year, the growth rate was 0.8 percentage points higher than that in the fourth quarter of the previous year, and the month-on-month growth rate was 1.3%. The economy maintained a momentum of expansion.
——From a dialectical point of view, this 4.8% is an increase with stable employment, stable prices, and stable international payments. The main macro indicators of China's economy remain within a reasonable range.
Looking at employment, the overall stability pattern remains unchanged.
Despite the impact of the epidemic, the national urban surveyed unemployment rate increased in March, but in general, in the first quarter, 2.85 million new jobs were created in urban areas across the country, and the national urban surveyed unemployment rate averaged 5.5%, basically the same as the same period last year. .
"The employment priority policy has continued to exert its strength, and the efforts to help enterprises have also increased, and the employment situation has generally remained basically stable." Fu Linghui, a spokesman for the National Bureau of Statistics, said at a press conference held by the State Council Information Office that in the first quarter , the unemployment rate of the main employment group aged 25-59 was 4.9%, the same as the same period of the previous year.
Looking at prices, consumer prices rose moderately.
In the first quarter, despite the significant rise in global inflation, my country's market supply was generally sufficient, and the CPI rose by 1.1% year-on-year, slightly larger than the increase in January-February, and overall moderate.
"Although there are international imported factors and some short-term supply pressures for fresh food, in general, there are more favorable conditions for the CPI to maintain a moderate rise." Fu Linghui said.
Looking at the balance of payments, foreign exchange reserves remained stable.
In the first quarter, the total import and export value of my country's trade in goods increased by 10.7% year-on-year, and the foreign exchange reserves remained stable at about 3.2 trillion US dollars.
"my country's economy is resilient and provides solid support for the growth of foreign trade." Li Kuiwen, spokesman for the General Administration of Customs, said that in the first quarter, my country's imports and exports to countries along the "Belt and Road" increased by 16.7% year-on-year.
"The relief policy to help enterprises continues to exert force, especially the effect of cross-cycle adjustment and stabilization of foreign trade policies and measures continues to show, which further stimulates the vitality of foreign trade market players."
Steady progress was made, economic structure was adjusted and optimized, and people's livelihood continued to improve
To judge the trend of China's economic operation, not only depends on the speed, but also depends on the quality and efficiency.
In the first quarter of this year, China's economy has seen steady progress and increased resilience.
——The trend of innovation and development continues, and industrial upgrading has an obvious leading role.
140.8%, 24.3%, 10.2%, this is the first quarter, the output of new energy vehicles, solar cells, industrial robots increased.
With the change of my country's development stage, the market demand for mid-to-high-end products has increased, coupled with the effective implementation of the innovation-driven strategy, the pace of industrial upgrading has accelerated.
"The equipment manufacturing industry has developed well, and the high-tech manufacturing industry has grown rapidly, which has an obvious role in supporting the industry." Fu Linghui analyzed that in the first quarter, the added value of the equipment manufacturing industry increased by 8.1% year-on-year, and the added value of the high-tech manufacturing industry was year-on-year. The growth rate was 14.2%, which was significantly faster than the national growth rate of industrial added value above designated size.
——The economic structure is adjusted and optimized, and the consumption recovery trend will not change.
On the first day of the new year, tickets for the dance poem "Only This Green" at Hangzhou Station were sold out in only 7 minutes; in March, the national tour at Haikou Station was added.
"It's good-looking, I'm willing to brush it again and again, and I can't get tired of watching it." Mr. Zhang, an audience member, admitted that in order to watch more performances, he chased him all the way from Beijing Tianqiao Theater to Hainan.
In the first quarter, the contribution rate of the growth of final consumption expenditure to economic growth was 69.4%, an increase of 18.7 percentage points over the same period of the previous year, which was higher than the contribution rate of total capital formation, and the leading role of consumption was obvious.
"In the first quarter, final consumption expenditures still contributed the most to economic growth among the three major demands. Although consumption growth has been suppressed to a certain extent due to the recent epidemic, the recovery trend of consumption will not change, and the role of consumption as a 'ballast stone' will still remain. It will appear." Fu Linghui said.
——The green transformation is progressing steadily, and the unit energy consumption continues to decline.
"The wind in Zhangbei lights up Beijing's lights", the Zhangbei Flexible DC Power Grid Test Demonstration Project helps Beijing Winter Olympics venues achieve 100% clean energy power supply; Xinjiang's first clean energy source integrating "wind energy, photovoltaics, thermal power, and energy storage" Energy base - China Huadian Urumqi 1 million kilowatt wind and photovoltaic base project officially started construction; my country's highest 1 million kilowatt hydropower station - Yalong River Lianghekou Hydropower Station with all units put into operation to generate electricity...
In the first quarter, the proportion of clean energy consumption continued to increase, and the proportion of clean energy consumption such as natural gas, water, nuclear, wind and photovoltaics increased by 0.8 percentage points over the same period of the previous year.
Energy consumption per unit of GDP continued to decline.
In the first quarter, energy consumption per 10,000 yuan of GDP decreased by 2.3% year-on-year.
——The improvement of people's livelihood continued to strengthen, and residents' income continued to grow.
At 8:07 on February 9, the first "point-to-point" high-speed train for migrant workers back to Fujian, customized by Fujian and Gansu provinces, was launched.
In order to meet the employment needs of small and medium-sized enterprises, Fuzhou alone has released information on 35,000 employment positions in Dingxi.
"It is very convenient for the special train to return to work, and the epidemic prevention measures on the road are also in place, so I feel at ease." said Zhang Shiwu, a migrant worker from Longxi County, Dingxi City.
In the first quarter, the per capita disposable income of national residents increased by 5.1% year-on-year in real terms. Among them, the per capita disposable income of rural residents increased by 6.3% in real terms, and the per capita disposable income of urban residents increased by 4.2% in real terms. The income growth of rural residents continued to be faster than that of urban residents.
The fundamentals of my country's economy have not changed for a long time, and it is fully capable and conditional to overcome difficulties and challenges.
Since March, the world situation has been complicated and evolving, and the impact of the domestic epidemic has continued, and some unexpected factors have exceeded expectations.
What is the trend of China's economic development?
"In March, the growth rate of some major indicators slowed down, and the downward pressure on the economy has increased. However, the fundamentals of my country's long-term economic improvement have not changed, and the trend of sustained economic recovery has not changed. Nothing has changed, and we are fully capable and qualified to overcome difficulties and challenges and achieve sustainable and healthy economic development." Fu Linghui said.
——Scientific epidemic prevention has the conditions, and the basis for promoting economic recovery is solid.
Since the outbreak of the epidemic, my country's scientific and precise prevention and control have formed a set of effective and practical prevention and control measures, which have maintained the stability of the overall economic and social situation.
"Since this year, the characteristics of the spread of the new crown epidemic have undergone new changes, but as long as we adhere to scientific epidemic prevention, we can gradually block the spread of the epidemic and reduce the adverse impact on economic and social development." Fu Linghui said that my country has a complete industrial system and infrastructure. Continuous improvement, obvious advantages in the super-large-scale market, continuous achievements in innovation-driven development, and a good foundation for promoting sustainable and healthy economic development.
——Economic development is resilient and has great potential to support economic growth.
Consumption recovery is expected to continue.
As the impact of the epidemic is gradually brought under control, the employment priority policy will continue to exert its force, which will promote the improvement of residents' consumption ability and willingness to consume.
Developing new forms of consumption and new models, and accelerating the quality and expansion of the rural consumer market are also conducive to sustained growth in consumption.
The investment stimulating effect is expected to increase.
Since the beginning of this year, all localities have actively promoted the construction of major projects, driving the rapid growth of investment.
As my country's support for the development of the real economy continues to increase, the transformation and upgrading of traditional industries and the growing momentum of innovation and development in emerging industries will help drive the growth of industrial investment.
"From the perspective of development trends, the current newly started projects have increased significantly compared with the same period last year, which will form a strong support for the stable growth of investment." Ou Hong, director of the Investment Department of the National Development and Reform Commission, analyzed.
The dividends of opening up continue to show.
Fu Linghui analyzed that in general, the world economy is still recovering, and the demand for my country's export products will still increase.
At the same time, the policy of stabilizing foreign trade continues to exert force, the results of the joint construction of the "Belt and Road" continue to show, and the rapid development of new forms of foreign trade is conducive to the growth of imports and exports.
——The policy support is strong, and there is confidence in promoting smooth operation.
"I just enjoyed the tax deferral, and I was sent a tax rebate 'red envelope'. With this series of 'real money' preferential policies, our confidence in becoming a big company has become stronger." Liangshengda, Dachang Hui Autonomous County, Langfang, Hebei Ma Fuliang, the person in charge of Filigree Inlaid Special Arts Co., Ltd., said that the tax department provides special service measures such as "one-to-one" and "online processing", and the tax refund procedures for enterprises are simpler. "I like the efficiency of tax refund!"
It is not only the company where Ma Fuliang works that has reduced the burden.
It is estimated that the annual tax rebate will be about 2.5 trillion yuan; the deposit reserve ratio of financial institutions will be lowered by 0.25 percentage points; 1 trillion yuan will be leveraged through 200 billion yuan in technological innovation and 100 billion yuan in re-loans for transportation and logistics. , establish a white list of key industries such as automobiles, integrated circuits, and equipment manufacturing and foreign trade enterprises... Since the beginning of this year, in the face of complex situations, various regions and departments have actively introduced policies that are conducive to economic stability. The support of the real economy reflects the determination to stabilize growth and expectations.
"Since the reform and opening up, we have accumulated decades of experience in macroeconomic regulation and control, and have the ability to manage risks and challenges. No matter what difficulties and obstacles, we must strengthen our confidence and seek progress while maintaining stability. We will be able to move forward and achieve our victory." Yao Jingyuan, a special researcher of the laboratory, said.
The scenery should be long-term.
Strengthen historical self-confidence, maintain strategic determination, follow the decisions and deployments of the Party Central Committee and the State Council, not be afraid of difficulties, overcome difficulties, and continue to coordinate epidemic prevention and control and economic and social development.
Our reporter Lu Yanan