The three major indices are expanding, and the Chinese economy is starting to improve

In March, the Purchasing Managers' Index (PMI) for China's manufacturing industry was 50.4%, once again operating within the expansion range of the 50% boom bust line after two months; The non manufacturing business activity index in China was 50.1%, an increase of 0.6 percentage points from the previous month, marking two consecutive months of month on month growth; The comprehensive PMI output index was 50.5%, up 1.0 percentage point from the previous month.

The overall improvement of the three leading indicators not only sends a strong signal of sustained improvement in the level of economic prosperity, but also demonstrates the vitality and resilience of the Chinese economy in a complex and changing environment.

The overall improvement of PMI index is due to the determination of high-quality development.

In March, the new orders index for the manufacturing industry was 51.6%, up 3 percentage points from the previous month, and returned to the expansion range after running below 50% for two consecutive months. Driven by the expanding demand, the purchasing willingness of enterprises has significantly recovered. In March, the purchasing volume index rebounded by 2.7 percentage points, reaching 50.9%. The synchronous expansion of production and demand shows a good situation of consolidating the positive trend of the economy and activating endogenous growth momentum.

Faced with the uncertainty brought by weak global economic recovery and geopolitical conflicts, China is firmly committed to promoting high-quality development, improving total factor productivity, promoting the aggregation of various advanced factors into new quality productivity, and continuously moving towards high-end, intelligent, and green manufacturing. Looking to the future, the outline of the 15th Five Year Plan outlines 20 major indicators in 5 aspects, 16 major strategic tasks in 16 aspects, and 109 major projects... outlining China's development prospects for the next 5 years, which will further consolidate the industrial foundation of China's economic development and accumulate momentum for economic growth.

The PMI index is overall improving, demonstrating the vitality of new driving forces.

Upon closer inspection of the sub indicators, the performance of the equipment manufacturing industry and high-tech manufacturing industry, which represent new driving forces, is impressive. In March, the new order index of the equipment manufacturing industry increased by more than 3 percentage points compared to the previous month, reaching over 53%, while the new order index of the high-tech manufacturing industry increased by more than 2 percentage points compared to the previous month, reaching over 54%. Moreover, the new order indices of the two industries have been operating in the expansion range for 20 and 14 consecutive months, respectively.

Currently, China is accelerating the cultivation of new quality productive forces, promoting the deep integration of cutting-edge technologies such as artificial intelligence and quantum technology with the manufacturing industry. The iterative upgrading of traditional industries and the accelerated rise of emerging industries are working in both directions, forming a diversified and coordinated industrial development pattern. This not only enhances the core competitiveness of industries, but also injects inexhaustible power into the sustained recovery and improvement of the economy.

The first independently developed quantum computer operating system, "Benyuan Sinan," has officially opened for online download and will empower various industries; Domestic humanoid robots enter the "era of ten thousand units", breaking the global production speed record; The world's leading integrated professional engineering ship delivery, China's shipbuilding is moving towards high-end and green... China has become an important source of global innovation.

The PMI index is overall improving, releasing new consumption potential.

In March, the new order index of the consumer goods manufacturing industry increased by more than 3 percentage points compared to the previous month, reaching over 52%, indicating a significant rebound in demand in the consumer goods market. Since the beginning of this year, the consumer market has steadily developed towards novelty and excellence. The pace of consumption upgrading is accelerating, and the demand for new types of consumption such as green consumption and intelligent consumption continues to grow. This not only drives the development of consumer goods manufacturing industry, but also drives the transformation of manufacturing industry towards high-end and quality-oriented.

Since the beginning of this year, the special action to boost consumption has been continuously deepened, with new demand leading new supply and new supply creating new demand. Each measure will promote sustained growth, expansion, and upgrading of consumption, providing important support for resisting external demand fluctuations and promoting sustained economic recovery.

The three leading indicators have entered the expansion range comprehensively, reflecting the current increase in development confidence and improvement in expectations, and the economy is showing a good trend of economic recovery. Continue to implement more proactive fiscal policies and moderately loose monetary policies, achieve the integrated effect of stock policies and incremental policies, step by step, and advance stage by stage. The Chinese economy is worth looking forward to in the first year.