Understanding "China's Confidence" from Data and Presenting Various Meteorology of High Quality Development
2024-03-28
On March 27th, the National Bureau of Statistics introduced that in the first two months of this year, industrial production grew rapidly, and the profits of industrial enterprises above designated size nationwide increased rapidly. The revenue of industrial enterprises has significantly improved, and the efficiency of industrial enterprises has started steadily. From January to February, industrial enterprises above designated size in China achieved a total profit of 914.06 billion yuan, a year-on-year increase of 10.2%, and profits decreased by 2.3% from the previous year to a positive growth. From a monthly perspective, the profits of industrial enterprises above designated size have continued to increase year-on-year since August of last year, and the first two months of this year have continued to recover with a positive trend. The efficiency of industrial enterprises has started steadily. The operating income of industrial enterprises has significantly improved. With the continuous recovery of market demand and rapid growth of industrial production, industrial enterprises above designated size achieved a revenue of 19.44 trillion yuan from January to February, a year-on-year increase of 4.5%, 3.4 percentage points higher than the annual revenue growth rate of the previous year. The recovery trend of enterprise revenue is obvious, creating favorable conditions for profit growth. More than 70% of industries saw profit growth, while industries such as equipment manufacturing and high-tech manufacturing saw a significant rebound in profits. From January to February, the profit of high-tech manufacturing industry decreased from 8.3% in the previous year to an increase of 27.9%, with a growth rate 17.7 percentage points higher than the average level of large-scale industries. Among them, the profit of the intelligent consumer equipment industry increased by 1.13 times, and the profit of the lithium-ion battery industry increased by 66.3%. The profits of the consumer goods manufacturing industry continue to recover. From January to February, the profit of the consumer goods manufacturing industry decreased by 1.1% from the previous year to a year-on-year increase of 12.9%. Among the 13 major consumer goods manufacturing industries, 11 have seen profit growth, with paper making, furniture, textiles, and cultural, educational, industrial, and aesthetic industries experiencing profit growth of 3.37 times, 1.98 times, 51.1%, and 50.4%, respectively. Chen Xi, Deputy Researcher at the China Institute of Macroeconomics, stated that this year, the government has introduced a series of policy measures, including large-scale equipment upgrades and consumer goods trade ins, to actively cultivate and develop new quality productivity, which will strongly promote subsequent industrial development and drive continuous improvement in the efficiency of industrial enterprises. The sustained growth of profits in industrial enterprises means that they have better conditions to implement expanded reproduction, invest in innovation, and invest in development, which is conducive to promoting a virtuous cycle of industrial economy. In the two months leading up to a stable start, China's imports and exports amounted to 6.61 trillion yuan. On March 26th, the State Council Information Office invited officials from multiple departments to introduce recent data and policies related to production, consumption, imports and exports, and responded to external concerns. The relevant person in charge of the General Administration of Customs stated that in the first two months of this year, China's imports and exports reached a new historical high of 6.61 trillion yuan. In the current sluggish international market, achieving such results is commendable and inspiring. Wang Lingjun, Deputy Director of the General Administration of Customs, introduced that in the first two months of this year, China's exports and imports achieved "double growth", with an export scale of 6.61 trillion yuan basically equivalent to China's total foreign trade value 20 years ago. Wang Lingjun stated that the activity of cross-border flows has increased. In the first two months, the daily average number of customs supervised inbound and outbound transportation vehicles has steadily increased compared to the end of last year, with the number of regulated inbound and outbound aircraft increasing by nearly 10%. In the first two months of this year, cross-border e-commerce imports and exports increased by nearly 10%, and market procurement exports increased
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