National Bureau Of Statistics: The National Economy Continued To Pick Up In April

The national economy continued to pick up in April

(May 17, 2024)

National Bureau of Statistics

In April, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core, all regions and departments earnestly implemented the decisions and arrangements of the CPC Central Committee and the State Council, adhered to the general tone of seeking progress while maintaining stability, fully implemented the new development concept, accelerated the construction of a new development pattern, solidly promoted high-quality development, increased the implementation of macro policies, and steadily increased production demand, Employment prices are generally improving, social expectations continue to improve, high-quality development is steadily advancing, and the national economy is generally stable, continuing to pick up.

　　 1、 Industrial production accelerated, and the equipment manufacturing industry and high-tech manufacturing industry grew rapidly

In April, the added value of industries above designated size nationwide increased by 6.7% year on year, 2.2 percentage points faster than that of last month; The month on month growth was 0.97%. In terms of three categories, the added value of the mining industry increased by 2.0% year on year, the manufacturing industry increased by 7.5%, and the production and supply of electricity, heat, gas and water increased by 5.8%. The added value of equipment manufacturing industry increased by 9.9%, 3.9 percentage points faster than that of last month; The added value of high-tech manufacturing increased by 11.3%, 3.7 percentage points faster. In terms of economic types, the added value of state-owned holding enterprises increased by 5.4%; Joint stock enterprises increased by 6.9%, and foreign invested enterprises, Hong Kong, Macao and Taiwan invested enterprises increased by 6.2%; Private enterprises grew 6.3%. By product, the output of 3D printing equipment, new energy vehicles and integrated circuit products increased by 55.0%, 39.2% and 31.9% year on year respectively. From January to April, the added value of industries above designated size increased by 6.3% year on year, 0.2 percentage points faster than that from January to March. In April, the purchasing managers' index of manufacturing industry was 50.4%, and the expected index of enterprise production and operation activities was 55.2%. From January to March, the total profit of industrial enterprises above designated size nationwide was 1505.5 billion yuan, up 4.3% year on year.

　　 2、 The service industry continued to recover and the modern service industry developed well

In April, the national service industry production index increased by 3.5% year on year. In terms of industries, the production indexes of information transmission, software and information technology services, leasing and business services, finance, transportation, warehousing and postal services increased by 10.8%, 6.1%, 5.4% and 4.3% year on year, respectively, faster than the service industry production indexes of 7.3, 2.6, 1.9 and 0.8 percentage points. From January to April, the national service industry production index increased by 5.0% year on year. From January to March, the operating revenue of service enterprises above designated size increased by 8.5% year on year. In April, the service industry business activity index was 50.3%; The expected index of service business activities is 57.4%. Among them, the business activity index of railway transportation, road transportation, postal service, telecommunications, radio and television, satellite transmission services and other industries is higher than 55.0%.

　　 3、 The market sales kept growing and the service consumption grew well

In April, the total retail sales of consumer goods reached 3569.9 billion yuan, up 2.3% year on year; The month on month growth was 0.03%. By the location of the business unit, the retail sales of urban consumer goods reached 3102.6 billion yuan, up 2.1% year on year; The retail sales of rural consumer goods reached 467.3 billion yuan, up 3.5%. By type of consumption, retail sales of goods reached 3178.4 billion yuan, up 2.0%; Catering revenue was 391.5 billion yuan, up 4.4%. The sales of basic living goods and some upgraded goods grew rapidly, and the retail sales of communication equipment, sports and entertainment goods, grain and oil, food, and beverage goods of units above designated size increased by 13.3%, 12.7%, 8.5%, and 6.4% respectively. From January to April, the total retail sales of consumer goods reached 15602.6 billion yuan, up 4.1% year on year. The national online retail sales reached 4411 billion yuan, up 11.5% year on year. Among them, the online retail sales of physical goods reached 3735.6 billion yuan, up 11.1%, accounting for 23.9% of the total retail sales of consumer goods. From January to April, the retail sales of services increased by 8.4% year on year.

　　 4、 The scale of investment in fixed assets has expanded, and investment in high-tech industries has grown rapidly

From January to April, the national fixed asset investment (excluding farmers) was 14340.1 billion yuan, up 4.2% year on year; After deducting the investment in real estate development, the national investment in fixed assets increased by 8.9%. In terms of sectors, infrastructure investment increased by 6.0% year on year, manufacturing investment increased by 9.7%, and real estate development investment decreased by 9.8%. The sales area of newly built commercial housing nationwide was 292.52 million square meters, down 20.2% year on year; The sales volume of new commercial housing was 2806.7 billion yuan, down 28.3%. In terms of industries, the investment in the primary industry increased by 1.9% year on year, the investment in the secondary industry increased by 13.0%, and the investment in the tertiary industry increased by 0.3%. Private investment increased by 0.3%; Excluding real estate development investment, private investment increased by 7.2%. The investment in high-tech industry increased by 11.1% year on year, of which the investment in high-tech manufacturing industry and high-tech service industry increased by 9.7% and 14.5% respectively. In the high-tech manufacturing industry, the investment in aviation, spacecraft and equipment manufacturing, computer and office equipment manufacturing increased by 49.6% and 10.2% respectively; Among high-tech services, investment in e-commerce services and information services increased by 27.6% and 19.9% respectively. In April, fixed asset investment (excluding farmers) fell 0.03% month on month.

　　 5、 The import and export of goods grew rapidly, and the trade structure continued to be optimized

In April, the total import and export of goods was 3638.9 billion yuan, up 8.0% year on year. Among them, exports reached 2076.2 billion yuan, up 5.1%; Imports reached 1562.7 billion yuan, up 12.2%. Import and export balance, trade surplus 513.5 billion yuan. From January to April, the total import and export of goods was 13805.3 billion yuan, up 5.7%. Among them, the export was 7811.3 billion yuan, up 4.9%; Imports reached 5994 billion yuan, up 6.8%. From January to April, the import and export of general trade increased by 5.3%, accounting for 65.1% of the total import and export volume. The import and export of private enterprises increased by 10.7%, accounting for 54.6% of the total import and export volume, 2.5 percentage points higher than the same period last year. The export of mechanical and electrical products increased by 6.9%, accounting for 59.2% of the total export.

　　 6、 The employment situation is generally stable, and the unemployment rate in urban surveys has declined

From January to April, the average unemployment rate of the national urban survey was 5.2%, 0.2 percentage points lower than the same period of the previous year. In April, the national urban survey unemployment rate was 5.0%, 0.2 percentage points lower than that of the previous month and the same month last year. The unemployment rate of local registered labor force survey is 5.1%; The unemployment rate of migrant registered labor force is 4.9%, of which the unemployment rate of migrant agricultural registered labor force is 4.5%. The unemployment rate in 31 large cities and towns was 5.0%. The average weekly working hours of enterprise employees nationwide are 48.5 hours.

　　 7、 The year-on-year growth of consumer prices of residents has been steadily rising, and the year-on-year decline of industrial producer prices has narrowed

In April, the national consumer price (CPI) rose 0.3% year on year, 0.2 percentage points higher than that of the previous month; It rose 0.1% month on month and fell 1.0% last month. By category, the prices of food, tobacco and alcohol fell by 1.4% year on year, the prices of clothing rose by 1.6%, the prices of living goods and services rose by 0.2%, 1.4%, the prices of transportation and communication rose by 0.1%, the prices of education, culture and entertainment rose by 1.8%, the prices of medical care rose by 1.6%, and the prices of other goods and services rose by 3.8%. Among the food, tobacco and wine prices, the price of fresh fruit dropped by 9.7%, the price of grain rose by 0.5%, the price of fresh vegetables rose by 1.3%, and the price of pork rose by 1.4%. After deducting food and energy prices, the core CPI rose 0.7% year on year, 0.1 percentage points higher than that of last month. From January to April, the national consumer price rose 0.1% year on year.

In April, the ex factory price of industrial producers across the country fell 2.5% year on year, 0.3 percentage points lower than that of the previous month; 0.2% month on month. The purchase price of national industrial producers fell by 3.0% year on year and 0.3% month on month. From January to April, the factory price and purchase price of industrial producers across the country decreased by 2.7% and 3.3% respectively year on year.

In general, the national economy ran smoothly in April. Although the growth of some indicators slowed down due to the influence of holidays, staggered months and higher base in the same period of last year, the main indicators of industry, exports, employment, prices and other indicators improved overall. The new drivers of growth maintained a rapid growth. The national economy continued to pick up and improve, and positive factors accumulated. However, it should also be noted that the complexity, severity and uncertainty of the external environment have increased significantly, and the economy is still facing many difficulties and challenges in its sustained recovery. In the next stage, we should adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the spirit of the meeting of the Political Bureau of the CPC Central Committee, adhere to the general tone of the work of seeking progress while maintaining stability, fully implement the new development concept, accelerate the construction of a new development pattern, focus on promoting high-quality development, and effectively implement the macro policies that have been identified by making efforts forward, Consolidate and enhance the economic recovery trend, and continue to promote the effective improvement of the quality and reasonable growth of the quantity of the economy.

note appended

(1) The added value of industries above designated size and the growth rate of their classified projects are calculated at comparable prices, which is the actual growth rate; Unless otherwise specified, other indicators are calculated at current prices and are nominal growth rates.

(2) The statistical scope of industries above designated size includes industrial enterprises with annual main business income of 20 million yuan and above.

As the scope of industrial enterprises above designated size changes every year, in order to ensure that the data of this year is comparable with that of last year, the number of the same period used to calculate the year-on-year growth rate of various indicators such as product output is as consistent as possible with the statistical scope of enterprises in this period, and there is a difference in caliber with the data published last year. Main reasons: First, the range of statistical units has changed. Every year, some enterprises reach the scale and are included in the scope of investigation, while some enterprises withdraw from the scope of investigation due to smaller scale, as well as the impact of newly built enterprises, bankruptcy, injection (suspension) and sales enterprises. Second, the product output data of some enterprise groups (companies) has the phenomenon of cross regional duplicate statistics. According to the special survey, the cross regional duplicate output of enterprise groups (companies) has been eliminated.

(3) The service industry production index refers to the output change of the service industry in the reporting period relative to the base period after excluding the price factor.

(4) The statistical scope of total retail sales of social consumer goods covers corporate enterprises, industrial activity units and self-employed individuals engaged in retail activities or providing catering services. Among them, units above the designated size refer to wholesale enterprises (units, self-employed enterprises) with annual main business income of 20 million yuan and above, retail enterprises (units, self-employed enterprises) with annual main business income of 5 million yuan and above, and accommodation and catering enterprises (units, self-employed enterprises) with annual main business income of 2 million yuan and above.

Since the scope of wholesale and retail enterprises above the designated size, accommodation and catering enterprises (units, self-employed households) changes every year, in order to ensure that the data of this year is comparable with that of the previous year, the number of the same period used to calculate the year-on-year growth rate of various indicators such as retail sales of consumer goods per unit above the designated size is consistent with the statistical scope of enterprises (units, self-employed households) in this period, There is a difference in caliber from the data published last year. The main reason is that every year, some enterprises (units and self-employed enterprises) are included in the scope of investigation when they reach the quota standard, while some enterprises (units and self-employed enterprises) withdraw from the scope of investigation because they cannot reach the quota standard due to their smaller scale, as well as the impact of newly opened enterprises, bankruptcy, and registered (suspended) enterprises (units and self-employed enterprises).

Online retail sales refer to the sum of retail sales of goods and services realized through public online trading platforms (including self built websites and third-party platforms). Goods and services include physical goods and non physical goods (such as virtual goods, service goods, etc.).

Total retail sales of consumer goods include online retail sales of physical goods, excluding online retail sales of non physical goods.

(5) The retail sales volume of services refers to the total value of services directly provided by enterprises (industrial activity units, self-employed households) to individuals and other units for non production and non business purposes in the form of transactions. It is intended to reflect the value of services sold by service providers in monetary form that belong to consumption, including transportation, accommodation, catering, education, health, sports Retail sales of service activities in entertainment and other fields.

(6) The growth rate of fixed asset investment is calculated on a comparable basis.

(7) The import and export data are from the General Administration of Customs.

(8) Employed personnel refer to those who are 16 years old and above, have the ability to work, and are engaged in certain social labor for the purpose of obtaining labor remuneration or operating income.

(9) Some data are not equal to the total due to rounding.

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(Source: website of National Bureau of Statistics)