Continuously consolidating the foundation for industrial economic recovery and improvement
2023-11-10
In the first three quarters, the added value of industries above designated size in China increased by 4% year-on-year, with a growth rate of 0.2 percentage points faster than the first half of this year, showing a trend of improving quarter by month. This is a result of overcoming numerous difficulties and fully demonstrating the development potential and resilience of China's industrial economy. However, the fourth quarter still faces serious challenges and requires continuous efforts to consolidate the foundation for recovery and improvement. The recovery of the industrial economy is not only reflected in quantity, but also in quality and momentum. Based on quality, the industrial structure continues to optimize, and high-tech manufacturing accounts for 15.3% of the added value of industries above designated size. Products in new energy fields such as solar cells and new energy vehicles maintain a high growth rate. Looking at the trend, positive factors continue to accumulate, with investment in high-tech manufacturing increasing by 11.3% year-on-year, maintaining double-digit growth for 36 consecutive months, and the decline in industrial exports narrowing. The efficiency of enterprises is improving month by month, and the expectations and confidence of industrial enterprises are gradually increasing. The long-term fundamentals of the industrial economy remain stable. China has a complete industrial system, a wide variety, and a large scale, with enormous potential for industrial upgrading. Among the 500 major industrial products, China's production of over 40% of the products ranks first in the world, and the scale of its manufacturing industry has been ranked first in the world for 13 consecutive years. At the same time, the Central Committee of the Communist Party of China and the State Council are exerting significant efforts to stabilize growth, which will further unleash the driving force of industrial upgrading, residents' consumption potential, and the vitality of business entities. It is also important to be aware that the situation facing the industrial economy is still complex and severe. Internationally, multiple factors are squeezing China's advantageous industries, which is not conducive to unleashing the external circulation power. The domestic industrial economy is still affected by factors such as insufficient demand expansion momentum, changes in the real estate market, and prevention of local debt risks. Efforts need to be made to make up for the export gap of industrial products, the confidence gap of small and medium-sized enterprises, and the growth gap in the real estate cycle. Continuously consolidating the foundation for the recovery of the industrial economy, with a focus on industries. Since the beginning of this year, the Ministry of Industry and Information Technology has focused on 10 key industries such as steel, non-ferrous metals, petrochemicals, and chemicals, and has introduced relevant stable growth plans. These industries have a large scale, strong driving force, and high correlation, which are important pillars supporting the stable growth of the industrial economy. Stabilizing these key industries basically stabilizes the industrial economy. According to the development level and characteristics of different industries, relevant stable growth plans are also implemented according to the industry and tailored to the situation. The next step is to implement the series of stable growth policies and measures that have been introduced in detail, and strengthen the precise integration and collaborative efforts between industrial policies and policies such as finance, taxation, finance, trade, and investment, in order to maximize the effectiveness of policies. The key to continuously consolidating the foundation of industrial economic recovery lies in the region. Practice has proven that major industrial provinces play an important role in industrial growth, and we need to continue to support these provinces in "boldly taking on the big beam" and encourage various regions to leverage their respective advantages and achieve growth goals. For example, fully leveraging the key supporting role of the eastern industrial province, consolidating the rapid growth momentum of the central and western regions, promoting the comprehensive revitalization of the Northeast region, supporting the accelerated development of the Beijing Tianjin Hebei, Yangtze River Delta, Guangdong Hong Kong Macao Greater Bay Area, and other regions, and forming more growth poles. Continuously consolidating the foundation for the recovery of the industrial economy, with enterprises as the main body. Only when enterprises are stable can the economy be stable. Currently, small and medium-sized enterprises still face prominent problems in production and operation, such as insufficient orders, rising costs, and difficulties in collecting payments
Edit：Ling Xiaotong Responsible editor：Li Yi
Source：ECONOMIC DAILY
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