New kinetic energy gathering and driving force, improving the quality of stable economic operation

On the 14th, the National Bureau of Statistics released data showing that in October, production and supply remained basically stable, employment remained overall stable, prices improved, new driving forces were cultivated and strengthened, and the national economy maintained an overall stable and steady development trend. Against the backdrop of complex and ever-changing external environment and pressure from internal structural adjustments, the steady growth of industrial production and the accelerated cultivation of new quality productivity constitute a solid support for the high-quality development of the current national economy.

Optimizing industrial production structure lays a solid foundation for economic upgrading. As the core engine of the real economy, the added value of industrial enterprises above designated size increased by 4.9% year-on-year in October, continuing the stable growth trend. Among them, the outstanding performance of high-tech manufacturing and equipment manufacturing is more iconic. Data shows that in October, the added value growth of high-tech manufacturing and equipment manufacturing industries was faster than that of all industries above designated size, and the pattern of "high-end leading" clearly demonstrates the effectiveness of industrial transformation. From the perspective of specific products, the production of 3D printing equipment, new energy vehicles, and industrial robots has increased by more than double digits year-on-year. The rapid growth of high value-added products not only drives current production, but also accumulates momentum for industrial upgrading, driving the linkage between production and efficiency, demonstrating the dual improvement of quality and efficiency in the industrial economy.

With the deepening integration of the digital economy and the real economy, the consumption of intelligent products and services is steadily expanding. From January to October, the online retail sales of physical goods accounted for 25.2% of the total social retail sales, and the dual efforts of digital industrialization and industrial digitization have achieved significant results. The green transformation field is full of highlights, not only maintaining high-speed growth in the production of new energy vehicles, but also achieving large-scale production of green and low-carbon products such as lithium-ion batteries for automobiles and wind turbines. This not only aligns with the "dual carbon" goal, but also forms a new economic growth point.

The structural optimization of fixed assets investment and foreign trade echoes the direction of transformation. On the investment side, manufacturing investment continues to play the role of a "stabilizer", focusing on key areas and weak links to expand effective investment, especially in high-tech fields where investment has grown rapidly. Investment represented by new energy, new materials, artificial intelligence, and other fields continues to expand, and investment qualifications and efficiency are improved accordingly. The continuous increase in research and development investment provides strong support for the cultivation of new quality productivity and industrial upgrading. In the field of foreign trade, the continuous improvement of industrial technological strength drives the upgrading of foreign trade structure and resilience. From January to October, the proportion of China's mechanical and electrical product exports to the total export value exceeded 60%. The dual optimization of trading entities and commodity structure has enabled China's foreign trade to maintain a competitive advantage in the global trade downturn.

Currently, China's economic structural adjustment is still steadily advancing, and there are pains in the transition from old to new driving forces. The national economy continued to operate steadily in October, with ample momentum for progress and confidence in achieving our future economic goals.