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Think Tank

Q1 economic data highlights the strong resilience of China's economy

2023-04-25   

2023 is the beginning year of fully implementing the spirit of the 20th National Congress of the Communist Party of China, and also a key year for comprehensive economic recovery after the epidemic. A good beginning, increasing qi and benefiting the end "is often related to the overall situation and plays an important role in laying the foundation and establishing momentum. Only by taking good steps can we accelerate. As the starting season of the opening year, the importance of the first quarter for the entire year's economic operation and high-quality development is self-evident. Overall, the main indicators of China's economy have stabilized and rebounded, with a year-on-year growth of 4.5% in gross domestic product (GDP); The consumer price index index (CPI) keeps rising moderately and there is no deflation; The employment situation is improving, with the unemployment rate decreasing by 0.1% compared to the fourth quarter of last year; The total import and export volume of goods increased by 4.8% year-on-year, with a trade surplus of 1409 billion yuan. From the perspective of production demand, the three industries have steadily recovered, and the support of the tertiary industry, especially the service industry, has significantly improved, contributing 69.5% to economic growth; Fixed assets investment increased by 5.1% year on year, effectively enhancing the development potential; The per capita disposable income of residents increased by 5.1% year-on-year in nominal terms, and consumption returned to its position as the primary driving force of economic growth. The contribution rate of final consumption expenditure to economic growth reached 66.6%. From the perspective of subject expectations, the confidence of market entities has been boosted, and the flow of logistics personnel has become more active. The expected index of enterprise production and operation activities, service industry business activity index, and business activity index are all located in a relatively high prosperity range of 55.5% or above. The opening "transcript" of the first quarter reflects the continuous consolidation of a solid foundation for China's economic stability and the accumulation of positive factors for progress, demonstrating the strong resilience of the Chinese economy. Focusing on the "starting point" of the people's position, in order to demonstrate the resilience and collective strength of China's economy. The foundation of economic stability and upward progress has been continuously consolidated, thanks to various factors. First, the leadership of the CPC and the system of socialism with Chinese characteristics are the fundamental guarantee for China to concentrate its efforts on major issues. We always adhere to the value pursuit of people first, and can fully mobilize the initiative, enthusiasm and creativity of the 1.4 billion people. Secondly, China has a super large market advantage, with 170 million market entities providing strong demand incentives to the real economy, and playing a role in suppressing the economic downturn by increasing consumption and investment demand. Thirdly, China's economic policies always adhere to the principles of continuity, stability, and sustainability. Based on the characteristics and situation of China's own economic development, the Chinese government takes into account the countercyclical adjustment of the overall economic fundamentals and the structural adjustment of cultivating economic growth potential, ensuring that various specific deployments can be "drip irrigated" to practical and detailed aspects according to local conditions. Macroscopic policies are proactive, micro measures are precise and effective, and the people-centered development concept is integrated into the entire process of economic and social practice, enhancing the vitality of economic development, helping the economy move forward steadily, and providing a stable social environment for consolidating China's economic resilience. Seize the "opportunity points" of the trend of the times and contribute to demonstrating China's economic resilience. Faced with the severe and complex international environment and the arduous and heavy workload of the country

Edit:qihang Responsible editor:xinglan

Source:GMW.cn

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