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Focus on the national economic data in April

Financial observation: the warmth of the beginning continues to release. The industrial economy rebounded in April

10:16, May 18, 2024 | Source: People's Network
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People's Daily Online, Beijing, May 18 (Reporter Shen Jiaping) On May 17, the National Bureau of Statistics released data on the operation of the national economy, which showed that in April, the economic operation continued to pick up and improve, and the added value of industries above designated size nationwide increased by 6.7% year-on-year, 2.2 percentage points faster than last month; The month on month growth was 0.97%.

In an exclusive interview with people.com.cn, experts said that in April, the growth rate of industrial production accelerated significantly, which effectively consolidated the recovery trend of industrial economy since the beginning of the year, and continued to strengthen its support for the macro-economy.

The month on month growth rate of industrial added value above designated size reached a monthly high

Over 80% of the industry growth picked up

At the press conference held by the Information Office of the State Council on May 17, Liu Aihua, spokesman of the National Bureau of Statistics, chief economist, and director of the Department of Comprehensive Statistics of the National Economy, said that in April, industrial production growth accelerated thanks to the continuous coordinated efforts of macro policies and accelerated export drive. The added value of industries above designated size increased by 0.97% month on month, which is a high point of monthly month on month growth in recent years.

"Industrial production has been significantly accelerated, mainly driven by factors such as technology, market and expected improvement." Qiao Baohua, chief researcher of industrial economic operation of CCID Research Institute, specifically pointed out that first, new technologies such as artificial intelligence have been accelerated to promote the rapid development of technology intensive industries. Second, the demand of the international market has gradually warmed up, driving industrial enterprises to accelerate the recovery of exports. Third, the recovery of industrial enterprises above designated size has led to the steady improvement of enterprise expectations.

Data shows that in April, among 41 major industrial sectors, the year-on-year growth rate of added value of 33 industries rebounded or narrowed compared with that of last month, with a recovery rate of 80.5%; Among the 619 major industrial products in the statistics, the output growth of 363 products rebounded or the decline narrowed, with a recovery rate of 58.6%.

At the same time, the export delivery value of industries above designated size increased by 7.3% year-on-year, 5.9 percentage points faster than last month. Among the 39 major categories of industries with exports, 31 industries experienced export growth, with growth rate approaching 80%.

Liu Aihua pointed out that under the effect of a series of policies to stabilize foreign trade, the delivery value of industrial exports continued to rise in April, driving electronics, textiles and other industries with a high proportion of exports to recover, which is also an important reason for the acceleration of industrial production.

The added value of equipment manufacturing industry above designated size increased by 9.9% year on year

Accelerate the cultivation of new quality productivity

The output of EMUs increased by 212.5% year on year; New energy vehicles increased by 39.2%; 5G smart phones grew by 18.7%... Experts told People's Daily Online Finance and Economics that the rapid growth of equipment manufacturing and high-tech manufacturing was the highlight of the industrial sector in April, which laid an important foundation for accelerating the recovery of industrial growth, and also provided strong support for the cultivation and growth of new quality productivity.

Data shows that in April, the added value of equipment manufacturing industry above designated size and high-tech manufacturing industry increased by 9.9% and 11.3% respectively year on year, 3.9 and 3.7 percentage points faster than that of last month. Among them, the added value of automobile manufacturing increased by 16.3%, and that of computer communication and other electronic equipment manufacturing increased by 15.6%.

At the same time, from January to April, the equipment manufacturing industry above designated size accounted for 32.4% of all industries above designated size, and the added value of high-tech manufacturing industry accounted for 15.4%, which has continued to increase since this year.

Liu Aihua pointed out that at present, China is in a critical period of transformation and upgrading. The innovation driven development strategy has been deeply implemented, the construction of a modern industrial system has been accelerated, and the digital economy and green low-carbon development have spawned more new growth points. New driving forces are rapidly forming and growing, which has effectively enhanced the stamina and resilience of economic development. With the continuous growth of new industries, new products and new models, the leading role of innovation will continue to be highlighted, and the space for economic development will be further expanded.

Investment in high-tech industry increased by 11.1% year on year

Rapid growth of equipment renewal investment

Liu Aihua pointed out that in April, the rain and waterlogging disasters in some parts of the south affected the construction progress to some extent. However, with the strong policy support of large-scale equipment renewal, and the steady progress of high-end, intelligent, and green manufacturing, the investment in equipment renewal grew rapidly, and the investment in manufacturing grew well.

The data shows that from January to April, 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, the expected index of manufacturing PMI production and operation activities was 55.2%, which continues to be in a high boom zone, indicating that manufacturing enterprises have overall stable confidence in recent market development." Li Yang, deputy director of CCID Think Tank Planning Institute, said that in April, the new order index of equipment manufacturing industry and high-tech manufacturing industry was more than 52%, with a relatively high outlook. The difference between the production index and the new order index is 1.8 percentage points, indicating that production is stronger than demand.

At the same time, Li Yang pointed out that the implementation plan for equipment renewal and technological transformation in the industrial field has been introduced from the central to local governments, which will continue to drive the whole society to form an atmosphere of equipment renewal and technological transformation to a large extent, and will help promote the continuous and stable growth of industrial investment.

Liu Aihua also pointed out that from January to April, the investment in technological transformation of manufacturing industry increased by 8.5% year on year, and the investment in high-tech industry increased by 11.1% year on year, both faster than the growth rate of all investment. The investment in purchasing equipment, tools and instruments that reflect the update of equipment has maintained a double-digit growth.

"The detailed measures for large-scale equipment upgrading have been gradually implemented, and investment in key areas has continued to increase, which will accelerate the formation of more physical workload, which is conducive to the steady expansion of investment." Liu Aihua said. (Intern Shi Zixiao also contributed to this article)

"Focus on April's National Economic Data" series reports:

Financial observation: multiple groups of data in April reflected the continued positive trend in the second quarter

Financial observation: China's economic operation continues to recover and is supported

Financial observation: new opportunities for small and medium-sized enterprises from the rise of social service industry index

(Editor in charge: Shen Jiaping, Gao Lei)
 Concerned public account: People's Daily Finance Concerned public account: People's Daily Finance

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