Core point: The industrial economy in the first quarter was brilliant and bright, which can be said to be "new and new". Give full play to the role of industrial economy as "ballast", accelerate the cultivation of new quality productivity, and strive to consolidate the recovery trend, which will further consolidate the foundation of high-quality development.
Industry is the foundation of comprehensive national strength and the "ballast" of economic development. Recently, the State Council Information Office held a press conference to introduce the development of industry and informatization in the first quarter of 2024. The relevant person in charge said that in the first quarter, the added value of China's industries above designated size increased by 6.1% year on year, the highest value since eight quarters. The industrial economy maintained a rapid growth and achieved a good start in general.
The rapid growth of industrial economy is a highlight of the first quarterly report of China's economy in 2024. The GDP growth in the first quarter was mainly driven by the recovery of industry and the improvement of service industry. The contribution rate of industry and service industry to GDP growth exceeded 90%. Looking at the specific data, the industrial economy in the first quarter was brilliant and bright, which can be said to be "new and new".
One is that new changes boost confidence in development. Against the backdrop of increasing uncertainty in the global economy, corporate benefits continued to improve. In the first two months, industrial enterprises above designated size realized a year-on-year increase of 10.2% in profits; The production and operation activities of enterprises have accelerated and the economic prosperity level has rebounded. In March, the manufacturing purchasing manager's index (PMI) was 50.8%. The industrial recovery exceeded expectations, reflecting the positive results of the transformation and upgrading of the real economy, as well as the resilience and potential of China's economic development.
One is that new quality productivity brings new opportunities for development. In the first quarter, the added value of high-tech manufacturing above designated size increased by 7.5% year on year, the investment in high-tech industry increased by 11.4% year on year, and the output of charging piles, 3D printing equipment and electronic components increased by 41.7%, 40.6% and 39.5% year on year respectively. New industries are growing and new driving forces are surging, injecting more new forces into economic development.
It is not difficult to find that the positive factors for the recovery of the industrial economy continue to accumulate. From the production side, China has a complete industrial system, "China's creation" is accelerating, and some fields are changing from "follower" to "parallel" and "leader". At present, China has established 29 national manufacturing innovation centers, and 12000 "little giant" enterprises specialized in special and new products. As the efforts to cultivate and develop new quality productivity continue to increase, the innovation vitality of enterprises will continue to release, accumulating momentum for shaping new advantages for development.
From the consumer side, consumers' demand for high-end, high-quality and diversified products is increasing. The upgrading of "shopping carts" will promote the all-round upgrading of the entire industrial chain. For example, in terms of trade in of consumer goods, by the end of 2023, the number of civilian automobiles will reach 336 million, and the number of refrigerators, washing machines, air conditioners and other household appliances will exceed 3 billion. Only the upgrading of automobiles and household appliances can create a market space of trillion yuan, which is conducive to the transformation and upgrading of manufacturing industry and the optimization of economic structure.
At present, from a macro perspective, China's economy has shifted from a stage of rapid growth to a stage of high-quality development, with huge potential for stable growth. In the global competition, China has the advantages of a complete industrial system, a huge market scale and perfect information infrastructure. However, it should also be soberly noted that due to the late start of industry and other factors, China's industry is still generally large but not strong, all but not excellent, and the problem of unbalanced and inadequate development is prominent. In particular, there are still some factors restricting the recovery of the industrial economy, such as insufficient effective demand and high pressure on corporate profits.
Promoting new industrialization is a systematic project. China's economy is now in a new stage of transformation and development. Some traditional industries need adjustment, and fluctuations are normal. In the future, we should pay more attention to the imbalance of economic development and vigorously promote the construction of a modern industrial system. At the technical level, it is necessary to make up for shortcomings, forge long boards, strengthen the foundation, strengthen the deep integration of scientific and technological innovation and industrial innovation, and promote the implementation and transformation of innovative achievements; At the industrial level, it is necessary to coordinate the transformation and upgrading of traditional industries, cultivate and strengthen emerging industries, and layout future industries in advance, so as to continuously release innovation vitality and development momentum; At the enterprise level, we should further reduce the burden and provide more assistance, fully stimulate the endogenous power and development vitality of various business entities, and support high-quality economic development.
Start by looking at the overall situation, and increase confidence and motivation. Give full play to the role of industrial economy as "ballast", accelerate the cultivation of new quality productivity, and strive to consolidate the recovery trend, which will further consolidate the foundation of high-quality development. (Liang Yu, commentator of China Economic Network)
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