Beijing, 5 May (ZXS) -- China's economic recovery is continuing. According to official data released on the 16th, the year-on-year growth rate of China's main production demand indicators in April rebounded significantly. Fu Linghui, spokesman of the National Bureau of Statistics, gave a judgment: Positive factors are accumulating.
Looking at the report card of China's economy in April, the continued improvement in production and supply is one of the most significant positive factors. The pent-up service demand in the early stage continued to be released, and the contact-type and cluster-type service industries rebounded significantly. In April, the production index of the service industry increased by 4.4% year-on-year, of which the production index of accommodation and catering, wholesale and retail trade, transportation and other industries was significantly faster than the production index of all service industries. In the same month, the added value of industries above designated size increased by 13.5% year-on-year, which also showed steady growth.
At the same time, China's domestic demand continues to expand. With the orderly recovery of consumption scenarios, residents' consumption tendency has gradually increased, especially service consumption. In April, the total retail sales of consumer goods increased by 4.18% year-on-year, 4.7 percentage points faster than the previous month, of which catering revenue increased by 8.43%. The scale of investment continued to expand, and from January to April, fixed asset investment increased by 8.1% year-on-year, continuing to maintain steady growth.
The momentum of new momentum has also continued. With the increasing leading role of innovation, the effects of China's industrial upgrading and development, digital technology application expansion, and green transformation deepening are constantly emerging. From January to April, investment in high-tech industries increased by 1.4% year-on-year, significantly faster than the growth rate of all investment. The production of green products grew rapidly, and the production of new energy vehicles in April increased by 14.7% year-on-year.
In addition, factors such as the overall stability of employment prices and the continued resilience of foreign trade have also become footnotes for China's economic recovery in April.
Pang Ming, chief economist and director of the research department of JLL Greater China, told the China News Agency reporter that from the data, the current policy stable growth effect and the economic recovery growth trend are relatively obvious, and positive signals in all aspects are continuing to accumulate and appear, laying a solid foundation for China's comprehensive and stable recovery of the economy and the achievement of various goals for the whole year.
Nevertheless, challenges remain. When the National Bureau of Statistics studied and judged the situation, it reminded that the international environment is still complex and severe, domestic demand is still insufficient, and the endogenous driving force of China's economic recovery is not strong.
This is also reflected in the data. In April, China's manufacturing purchasing managers' index (PMI) fell slightly to below the critical point; From January to April, private investment increased by 4.1% year-on-year, which was still significantly lower than the overall growth rate of fixed asset investment; Since the beginning of this year, the year-on-year increase in the consumer price index (CPI) has generally declined, and prices have run at a staged low. These phenomena reflect the lack of domestic demand, and the confidence of business entities needs to be further boosted.
How to enhance the "internal force" of economic recovery? Pang Min believes that in terms of specific policies, we should adhere to the dual engine of promoting consumption and stabilizing investment to ensure that effective social demand is driven and expanded. In terms of consumption, it is necessary to fundamentally increase residents' income, improve the consumption environment from channels, and promote service consumption from specific industries. In terms of investment, it is necessary to increase the growth rate and proportion of private investment in total investment through government investment and policy incentives.
Lian Ping, chairman of the China Chief Economist Forum, said that doing everything possible to stabilize employment and improve youth employment opportunities is one of the important starting points for expanding effective demand and price stability. To this end, the government should create an environment and conditions conducive to entrepreneurship and employment. Improve the employment security system and stabilize the employment situation.
In the face of these challenges, China has stepped up its action.
The Politburo meeting at the end of April stressed that restoring and expanding demand is the key to the current sustained economic recovery. It is necessary to increase the income of urban and rural residents through multiple channels, improve the consumption environment, and promote the consumption of cultural tourism and other services. It is necessary to give full play to the guiding role of government investment and policy incentives, and effectively promote and stimulate private investment. The graduation season of colleges and universities is approaching, and the issues related to optimizing and adjusting the employment stabilization policy have recently appeared on the table of the executive meeting of the State Council more than once.
In this context, Fu Linghui stressed that there are still positive factors supporting China's economic operation in the next stage of stable recovery. The overall improvement of the employment situation, the stabilization and recovery of consumption and the service industry are expected to become an important supporting force for the economic improvement in the second quarter. (End)