In the first 11 months, the economic operation of provinces and cities was released, and the momentum of new quality productivity was enhanced
The growth rate of industrial added value above the designated size in Guangzhou turned positive
From January to November, the growth rate of industrial added value above designated size in the province rebounded for 1 consecutive months; The cumulative growth rate of the city's industrial added value above designated size turned positive for the first time in the year; The total amount of social zero in the city exceeded one trillion yuan, close to the level of last year; Some products that represent new quality productivity are rapidly produced... Recently, the Guangdong Provincial Bureau of Statistics and the Guangzhou Municipal Bureau of Statistics have successively released the economic operation in the first 11 months of this year, showing that the economic operation of Guangdong and Guangzhou is stable and improving, the market demand has improved, and the recovery trend has been consolidated.
The added value of industry above the provincial and municipal regulations has rebounded for the better
According to the latest data from the Guangdong Provincial Bureau of Statistics, from January to November, the added value of industrial enterprises above designated size in the province was 1.11 trillion yuan, a year-on-year increase of 3.70%, and the growth rate was 4.0 percentage points faster than that from January to October, rebounding for seven consecutive months. In November, the added value of industrial enterprises above designated size increased by 1.10 percent, 0.4 percentage points faster than that in October.
Focusing on Guangzhou, in the first 11 months, the cumulative growth rate of the city's industrial added value above designated size turned positive for the first time in the year, with a year-on-year increase of 0.1%, an increase of 1.10 percentage points from January to October. It is worth noting that the output of some products representing new quality productivity has been rapidly produced, with the output of new energy vehicles and multi-functional passenger vehicles (MPVs) increasing by 1.0 times and 1.0% respectively. The output of a new generation of information technology products such as industrial robots, displays, service robots, and integrated circuits increased by 27.1%, 43.8%, 33.1%, and 32.6% respectively.
"The rebound in industrial added value above the designated size is to a certain extent related to the efforts of major state-owned enterprises in technological transformation." Lin Jiang, a professor at the Department of Economics of Lingnan College of Sun Yat-sen University, said that Guangdong Province has issued a "Ten Measures for Technological Transformation", and the advantage of technological transformation is that in the case of a complete recovery of the market, enterprises can transform traditional technologies through investment, and after the market recovers, enterprises can quickly seize market opportunities to resume production, thereby driving the growth of industrial added value above the designated size.
It is worth noting that industrial investment is moving towards "new". In the first 11 months, Guangzhou's high-tech manufacturing investment increased by 17% year-on-year, an increase of 1.10 percentage points from January to October, and its subordinate six industries, five industries had a double-digit investment growth rate, of which the investment in the two key industries of electronics and communication equipment manufacturing and pharmaceutical manufacturing continued to maintain a "fast run" trend in the past two years, with a year-on-year increase of 3.8% and 6.5% respectively.
"It can be seen that whether it is the rapid output of some products representing new quality productivity, or the intensity of investment in high-tech manufacturing, it reflects Guangzhou's support and cultivation of strategic emerging industries and the technological transformation of traditional industries have begun to bear fruit." Lin Jiang said.
In the first 11 months, the total amount of Guangzhou society exceeded one trillion yuan
Residents' consumption demand continues to recover. In the first 11 months, the total retail sales of consumer goods in Guangdong Province reached 4.34 trillion yuan, a year-on-year increase of 5.6 percent, and the growth rate was 1.10 percentage points faster than that from January to October, while the total retail sales of consumer goods in Guangzhou exceeded one trillion yuan, reaching 0,3.10147 billion yuan, a year-on-year increase of 97.6 percent, an increase of 7.1 percentage points from January to October.
It is worth mentioning that from January to November 2022, the total retail sales of consumer goods in Guangzhou was 1.11 billion yuan, and the total retail sales of consumer goods in the city in 9496 was 86,2022.10298 billion yuan. This means that the total amount of social zero data from January to November this year has almost reached the level of last year.
Lin Jiang believes that in the first 11 months, the total amount of provincial and municipal social zero has achieved positive year-on-year growth against the trend, thanks to the introduction of various consumption vouchers in Guangdong and Guangzhou in November and December to stimulate consumption. "It can be felt that the frequency of issuing consumption vouchers has increased significantly recently, the threshold for participation has been lowered, the convenience has also been greatly improved, and the public's willingness to grab consumption vouchers has also increased, creating a good consumption atmosphere." Lin Jiang told reporters.
The gradual improvement of market demand relies on the strong flow of people and logistics as support. In the first 11 months, the freight volume of Guangdong province increased by 4.6% year-on-year, and the growth rate was 1.10 percentage points faster than that from January to October. Passenger traffic increased by 0.7 percent, 71.0 percentage points faster than that from January to October, of which railway, waterway and civil aviation passenger traffic increased by 1.10 percent, 4.1 percent and 102.8 percent respectively. Passenger turnover increased by 217.0%.
Focusing on Guangzhou, in the first 11 months, the city's passenger volume was 27946,18,73, a year-on-year increase of 4.1%, an increase of 10.5 percentage points from January to October. Among them, the passenger throughput of Baiyun Airport continued to double, with a year-on-year increase of 6.1 times. The freight volume was 3,83179,82 tons, a year-on-year increase of 1.9%, an increase of 1.10 percentage points from January to October.
Investment and consumption will become Guangzhou's economic "stabilizer"
The Guangzhou Municipal Bureau of Statistics said that on the whole, from January to November, positive factors in Guangzhou's economic operation continued to accumulate. However, the internal and external pressures on the economic recovery are still large, the support for the continued improvement of production is insufficient, and the foundation for the accelerated recovery of demand is unstable. In the next stage, it is necessary to firmly anchor the primary task of high-quality development, conscientiously implement the spirit of the Central Economic Work Conference, adhere to the principle of seeking progress while maintaining stability, promoting stability with progress, establishing first and then breaking down, further stabilize the production structure, optimize supply and expand demand, grasp projects to promote investment, strengthen the main body of basic education, and go all out to promote the economic recovery and improvement.
Looking forward to the economic trend of the whole year, Lin Jiang believes that with the gradual issuance and implementation of trillions of yuan of treasury bonds, some commercial banks will be guided to cooperate with some investment plans, and the pull of investment will have a certain stabilizing effect on the economy at the end of the year; Combined with the peak consumption season at the end of the year, the centralized issuance of consumption vouchers will stabilize the current consumption momentum to a certain extent.
Text/Guangzhou Daily all-media reporter Zhao Fangyuan