The national economy started strongly and had a good start in January and February
Beijing, March 16 (Reporter Yang Xi) - The National Bureau of Statistics released multiple data on the 16th, showing that from January to February, production and supply growth accelerated, market demand remained stable with some increase, employment and prices remained overall stable, new quality productivity grew and expanded, and the economy started strongly, achieving a good start.
Fu Linghui, spokesperson for the National Bureau of Statistics, stated that overall, major economic indicators showed a significant rebound in January and February, and the national economy started well. However, it should also be noted that the impact of external environmental changes is deepening, geopolitical risks continue to rise, and there are still many old problems and new challenges facing domestic economic development and transformation, as well as some enterprises facing operational difficulties. In the next stage, we must fully, accurately, and comprehensively implement the new development concept, accelerate the construction of a new development pattern, focus on promoting high-quality development, adhere to the general principle of seeking progress while maintaining stability, implement more proactive macro policies, develop new quality productive forces according to local conditions, focus on stabilizing employment, enterprises, markets, and expectations, and promote the effective improvement of the economy in terms of quality and reasonable growth in terms of quantity.
Industrial production is accelerating, and the equipment manufacturing and high-tech manufacturing industries are showing good growth
In January and February, the added value of industrial enterprises above designated size in China increased by 6.3% year-on-year, accelerating by 1.1 percentage points compared to December of the previous year. Looking at the three major categories, the added value of the mining industry increased by 6.1% year-on-year, the manufacturing industry increased by 6.6%, and the production and supply of electricity, heat, gas, and water increased by 4.7%. The added value of equipment manufacturing industry increased by 9.3% year-on-year, and the added value of high-tech manufacturing industry increased by 13.1%, which were 3.0 and 6.8 percentage points faster than the added value of all industries above designated size, respectively. In terms of economic types, the added value of state-owned holding enterprises increased by 4.2% year-on-year; Joint stock enterprises increased by 6.9%, while foreign and Hong Kong, Macao, and Taiwan invested enterprises increased by 4.0%; Private enterprises grew by 7.4%. By product, the production of 3D printing equipment, lithium-ion batteries, and industrial robots increased by 54.1%, 42.6%, and 31.1% year-on-year, respectively. From a month on month perspective, the added value of industrial enterprises above designated size in February increased by 0.83% compared to the previous month. In February, the Purchasing Managers' Index for the manufacturing industry was 49.0%; The expected index of enterprise production and operation activities is 53.2%, an increase of 0.6 percentage points from the previous month.
The service industry is growing rapidly, and the modern service industry is developing rapidly
In January and February, the national service industry production index increased by 5.2% year-on-year, accelerating by 0.2 percentage points compared to December of the previous year. By industry, the production indices of information transmission, software and information technology services, leasing and business services, finance, transportation, warehousing and postal services, and accommodation and catering industries increased by 10.1%, 8.2%, 7.0%, 6.3%, and 5.4%, respectively. In February, the service industry business activity index was 49.7%, an increase of 0.2 percentage points from the previous month; The expected index of service industry business activities is 55.8%. Among them, the business activity index of industries such as accommodation, catering, culture, sports and entertainment is in the high prosperity range above 60.0%.
The growth rate of market sales has rebounded, and the growth of service retail is relatively fast
In January and February, the total retail sales of consumer goods reached 8607.9 billion yuan, a year-on-year increase of 2.8%, which was 1.9 percentage points faster than December of the previous year. According to the location of the operating units, the retail sales of urban consumer goods reached 744.49 billion yuan, an increase of 2.7%; The retail sales of consumer goods in rural areas reached 1.163 trillion yuan, an increase of 3.2%. By consumption type, the retail sales of goods reached 758.15 billion yuan, an increase of 2.5%; The catering revenue was 1026.4 billion yuan, an increase of 4.8%. The sales of basic daily necessities and some upgraded products have grown rapidly. The retail sales of clothing, shoes, hats, needles, textiles, grain and oil food, communication equipment, and gold, silver, and jewelry by units above the quota increased by 10.4%, 10.2%, 17.8%, and 13.0% respectively year-on-year. From a month on month perspective, the total retail sales of consumer goods in February increased by 0.81% compared to the previous month. In January and February, the service retail sales increased by 5.6% year-on-year, accelerating by 0.1 percentage points compared to the whole year of the previous year. Among them, the retail sales of communication and information services, tourism consulting and rental services, and cultural and leisure services have grown rapidly. In January and February, the online retail sales of goods and services in China reached 3254.6 billion yuan, a year-on-year increase of 9.2%. Among them, the online retail sales of goods reached 208.12 billion yuan, an increase of 10.3%, accounting for 24.2% of the total retail sales of consumer goods in society; The retail sales of online services reached 1173.4 billion yuan, an increase of 7.3%.
Fixed assets investment increased from a decrease, and infrastructure investment grew rapidly
From January to February, the national fixed assets investment (excluding farmers) was 5272.1 billion yuan, up 1.8% year on year and down 3.8% year on year; Excluding real estate development investment, the national fixed assets investment increased by 5.2%. By sector, infrastructure investment increased by 11.4% year-on-year, manufacturing investment increased by 3.1%, and real estate development investment decreased by 11.1%. The sales area of newly-built commercial housing nationwide was 92.93 million square meters, a year-on-year decrease of 13.5%; The sales revenue of newly-built commercial housing reached 818.6 billion yuan, a decrease of 20.2%. Looking at different industries, investment in the primary industry increased by 17.4% year-on-year, investment in the secondary industry increased by 5.4%, and investment in the tertiary industry decreased by 0.4%. Private investment decreased by 2.6% year-on-year, narrowing the decline by 3.8 percentage points compared to the entire previous year; Excluding real estate development investment, private investment increased by 1.0%. Investment in high-tech industries increased by 5.1% year-on-year, with investments in aviation, spacecraft and equipment manufacturing, research and design services, and information services growing by 20.2%, 20.6%, and 16.5% respectively. On a month on month basis, fixed assets investment (excluding farmers) in February increased 0.39% over the previous month.
The import and export of goods are growing rapidly, and the trade structure continues to optimize
In January and February, the total import and export volume of goods was 7732.1 billion yuan, a year-on-year increase of 18.3%, accelerating by 13.4 percentage points compared to December of the previous year. Among them, exports amounted to 4617.8 billion yuan, an increase of 19.2%; Imports amounted to 3114.3 billion yuan, an increase of 17.1%. The import and export of general trade increased by 13.5% year-on-year. Import and export to countries jointly building the "the Belt and Road" increased by 20.0%. The import and export of private enterprises increased by 22.8%. The export of electromechanical products increased by 24.3%.
The overall employment situation is stable, and the surveyed urban unemployment rate remains unchanged year-on-year
In January and February, the average urban survey unemployment rate in China was 5.3%, unchanged from the same period last year. In February, the national urban survey unemployment rate was 5.3%, an increase of 0.1 percentage points from the previous month. The unemployment rate of local registered residence labor force survey is 5.4%; The unemployment rate of migrant registered residence labor force survey is 5.0%, of which the unemployment rate of migrant agricultural registered residence labor force survey is 5.2%. The surveyed unemployment rate in 31 major cities is 5.1%. The average weekly working hours of employees in enterprises nationwide are 48.1 hours.
The increase in consumer prices for residents has expanded, while the decrease in prices for industrial producers has narrowed
In January and February, the national consumer price index (CPI) rose by 0.8% year-on-year, with a 0.2% increase in January and a 1.3% increase in February. By category, from January to February, food, tobacco, alcohol, and dining prices increased by 0.6% year-on-year, clothing prices increased by 1.9%, housing prices decreased by 0.1%, daily necessities and services prices increased by 2.7%, transportation and communication prices decreased by 2.1%, education, culture, and entertainment prices increased by 1.0%, healthcare prices increased by 1.8%, and other supplies and services prices increased by 14.3%. In terms of food, tobacco, alcohol, and dining prices, pork prices decreased by 11.2%, grain prices decreased by 0.2%, fresh fruit prices increased by 4.5%, and fresh vegetable prices increased by 8.8%. After deducting food and energy prices, the core CPI increased by 1.3% year-on-year. From a month on month perspective, the national consumer price index rose by 0.2% in January and 1.0% in February.
In January and February, the ex factory prices of industrial producers in China decreased by 1.2% year-on-year. On a monthly basis, January saw a year-on-year decrease of 1.4% and a month on month increase of 0.4%; In February, there was a year-on-year decrease of 0.9% and a month on month increase of 0.4%. In January and February, the purchasing prices of industrial producers nationwide decreased by 1.1% year-on-year.