Steady Start Shows China's Economic Resilience Confidence

GDP grew by 5.0% year-on-year - In the spring of the first year of the 15th Five Year Plan, China's economy achieved a good start. The first quarter national economic operation data released on April 16th showed that the growth rate of major macroeconomic indicators has rebounded, not only laying a solid foundation for achieving the annual target tasks and achieving a smooth start to the 15th Five Year Plan, but also demonstrating the resilience and confidence of the Chinese economy in continuously enhancing high-quality development.

Stability is not only a clear signal, but also the foundation of confidence. Since this year, in the face of the external environment where unstable and uncertain factors have increased significantly, especially in the case of a high base in the first quarter of last year, the growth rate of fixed assets investment in China has changed from negative to positive, the quarterly growth rate of total imports and exports of goods has reached the highest in nearly five years, and the industrial economy has increased steadily... The achievements are hard won and commendable, which fully confirm that the characteristics of China's economy, such as stable foundation, many advantages, strong resilience and great potential, have not changed, and also inject strong confidence into China's economy to make progress while maintaining stability.

Innovation continuously injects new momentum into economic development. Currently, more and more industries are transforming and upgrading towards high-end, intelligent, and green development. In the first quarter, the growth rate of added value in the equipment manufacturing industry was significantly faster than that of all industries above designated size. The high-tech manufacturing industry had higher technological content, and investment in emerging fields showed good growth momentum. The positive data one by one demonstrated the increasing vitality of new driving forces in economic development.

The warmth of people's livelihoods is more abundant. This warmth is reflected in the continuously increasing income of urban and rural residents, the continuously increasing investment in people's livelihoods, and the continuously warming cultural tourism, digital, and green consumption. Continuously expanding domestic demand, optimizing supply, focusing on stabilizing employment, enterprises, markets, and expectations, so that people's aspirations for a better life are constantly responded to and satisfied, and development dividends are constantly transformed into tangible gains for the people.

The institutional advantages and policy effectiveness of our country have become more prominent. Since the beginning of this year, more proactive fiscal policies and moderately loose monetary policies have continued to show results, providing stronger support for key areas such as expanding domestic demand, technological innovation, and small and medium-sized enterprises; To cope with the significant increase in international energy prices, timely implement temporary price adjustments; Reform and opening up are advancing in depth, the pace of building a unified national market is accelerating, the effectiveness of deeply rectifying internal competition is constantly emerging, and the comprehensive pilot program for opening up the service industry is expanding. A series of policies have been effectively implemented, with ample policy space and reserves to safeguard the smooth operation of the economy.

The beginning is related to the overall situation, and the beginning determines the later stage. By maintaining strategic determination, strengthening confidence in development, and implementing policies, we have the ability and conditions to ride on the momentum and promote the steady progress of the Chinese economy on the path of high-quality development, based on the good start of the first quarter of the economy.