Source: Xinhua Daily Telegraph
The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released data on April 30. In April, China's manufacturing purchasing managers' index (PMI), non manufacturing business activity index and comprehensive PMI output index were 50.4%, 51.2% and 51.7%, respectively. Although they all declined from the previous month, the three indexes continue to remain in the expansion range, It shows that China's economic operation continues to pick up on the whole.
"In April, the PMI of China's manufacturing industry was 50.4%, which was in the expansion range for two consecutive months, and the manufacturing industry continued to maintain its recovery and development trend," said Zhao Qinghe, senior statistician of the Service Industry Survey Center of the National Bureau of Statistics.
——Enterprise production continued to accelerate and market demand continued to expand.
In April, the production index was 52.9%, up 0.7 percentage points from the previous month, the highest since April 2023. Wen Tao, an expert of China Logistics Information Center, said that in April, the steady increase of new orders and the digestion of early backlog of orders, combined with the continuous growth of enterprise profits, accelerated the growth of manufacturing enterprises' production activities.
From the demand index, in April, the new order index was 51.1%, down 1.9 percentage points from the previous month, but still in the expansion range, and the manufacturing market demand continued to recover. In terms of external demand, the index of new export orders was 50.6%, which continued to expand, indicating that the overall export business of enterprises continued to improve.
Wen Tao said that the concentrated release of market demand in March led to a correction of demand growth in April. However, in combination with the changes in the previous index, from March to April, new orders of manufacturing industry and new export orders maintained a growth trend, and the momentum of economic recovery was strengthened.
——All large, small and medium-sized enterprises operated steadily, and new drivers continued to expand rapidly.
In April, the PMI of large enterprises was 50.3%, continuing to be in the expansion range; The PMI of medium-sized enterprises was 50.7%, up 0.1 percentage points over the previous month, rising for four consecutive months; The PMI of small enterprises was 50.3%, unchanged from the previous month. At the same time, the production index and new order index of enterprises of all sizes were in the expansion range for two consecutive months, and the production and demand continued to release.
"In combination, the current coordinated growth of large, small and medium-sized enterprises has improved the stability and balance of economic recovery," Wen Tao said.
In April, the PMI of equipment manufacturing industry and high-tech manufacturing industry was 51.3% and 53.0% respectively, which continued to be in the expansion range and both were higher than the overall manufacturing industry. The PMI of the consumer goods industry was 50.5%, and continued to expand. Wen Tao said that since this year, the new driving force has shown a steady and rapid growth momentum, which has formed a positive interaction with the development of new quality productivity and further promoted the optimization of economic structure.
——The market expectation is generally stable, and there is a foundation for a better future.
In April, the expected index of production and business activities was 55.2%, down 0.4 percentage points from the previous month, which continued to be in a high boom zone, indicating that manufacturing enterprises' confidence in recent market development was generally stable.
"In the first four months of this year, the company's sales volume was 22.12 million yuan, and the shipment volume was 22.45 million yuan, up 33% and 35.1% year on year respectively." Wang Luohai, general manager of Anhui Kaimo Equipment Mould Co., Ltd., said that this year, while stabilizing the domestic market share, the company will increase the export volume, further enrich the product types, and expand the sales market of automobile lamp molds and non-standard automation equipment, Constantly cultivate and expand new growth points.
Zhao Qinghe said that although the manufacturing PMI continued to be in the expansion range this month, the survey results showed that the proportion of enterprises reflecting high raw material costs was 46.0%, 4.2 percentage points higher than that of the previous month. At the same time, the purchase price index of main raw materials rose to 54.0%, which increased the cost pressure of manufacturing enterprises.
From the perspective of non manufacturing industry, in April, the non manufacturing business activity index was 51.2%, 1.8 percentage points lower than the previous month, but still higher than the critical point, and the non manufacturing industry continued to expand.
The prosperity level of the service industry has dropped. In April, the service industry business activity index was 50.3%, 2.1 percentage points lower than the previous month. From the perspective of market expectations, the expected index of business activities is 57.4%, which continues to remain in a high boom range. Service enterprises continue to be optimistic about the market development prospects.
The expansion of the construction industry has accelerated slightly. In April, with the acceleration of infrastructure construction, the business activity index of the construction industry increased by 0.1 percentage points to 56.3%, which continues to be in a high boom zone.
"In April, the comprehensive PMI output index was 51.7%, down 1.0 percentage points from the previous month, indicating that the expansion of production and operation activities of Chinese enterprises slowed down," Zhao Qinghe said.
The Ministry of Commerce and other departments have successively issued the Action Plan for Promoting the Trade in of Consumer Goods and the Detailed Rules for the Implementation of the Subsidy for Trade in of Automobiles; The Ministry of Industry and Information Technology and other six departments deployed to carry out green building materials to the countryside activities in an all-round way; Identify key areas of support for ultra long term special national debt, accelerate project construction and fund use progress... Recently, the policy of stabilizing the economy has continued to work, focus on expanding domestic demand, and boost the confidence of business entities.
Sheng Laiyun, deputy director of the National Bureau of Statistics, said that we should resolutely implement the decisions and arrangements of the CPC Central Committee and the State Council on promoting stable economic development, further strengthen the implementation of policies, and consolidate and strengthen the foundation for a sustained economic recovery.
(Reporter: Wei Yukun, Li Huiying) Xinhua News Agency, Beijing, April 30
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