According to data released by the National Bureau of Statistics of China on the 16th, after preliminary calculations, China's gross domestic product in the first quarter of this year increased by 5.3% year-on-year at constant prices, and by 1.6% month on month compared to the fourth quarter of last year. The continuous recovery, stable start, and steady progress of the Chinese economy have achieved a good start, further enhancing the positive expectations of the international community for China's development prospects. International media reports believe that the Chinese economy has "achieved a good start" and "confidence continues to recover.". At present, the positive factors supporting the continued recovery and improvement of the Chinese economy are accumulating and increasing, laying a good foundation for achieving the annual target tasks. Taking a closer look at the "report card" of China's economy in the first quarter, the four macro indicators of growth, employment, inflation and balance of payments remained generally stable. The growth rate of fixed assets investment increased by 1.5 percentage points over the previous year, the total retail sales of social consumer goods and services increased by 4.7% and 10% respectively, the growth of imports and exports hit a new high since six quarters, and the per capita disposable income of residents increased by 6.2%. International financial institutions such as the Asian Development Bank, Goldman Sachs, and Morgan Stanley have recently raised their expectations for China's economic growth this year. The 2024 Asian Development Outlook report released by the Asian Development Bank predicts that China will contribute 46% of the economic growth of developing countries in Asia this year and next, continuing to be the largest contributor to global economic growth. Through the first quarter performance report of the Chinese economy, it can be seen that the development of new quality productivity has shown new results in some industries, business activities, and products. In the first quarter, the added value of China's high-tech manufacturing industry above designated size increased by 7.5% year-on-year, an increase of 2.6 percentage points from the fourth quarter of last year; The investment in high-tech industries increased by 11.4% year-on-year, an increase of 1.1 percentage points compared to the entire year last year; Investment in high-tech service industry increased by 12.7%. On the basis of rapid growth in previous years, the production of new energy vehicles increased by 29.2% in the first quarter of this year. The production of charging stations, 3D printing equipment, and electronic components increased by 41.7%, 40.6%, and 39.5% year-on-year in the first quarter. China's accelerated development of new productive forces not only shapes new driving forces and advantages for its own development, but also injects new impetus into international cooperation. China's exports of electric vehicles, lithium batteries, photovoltaic products, etc. have enriched global supply, alleviated global inflationary pressures, and made significant contributions to the global response to climate change and green and low-carbon transformation. Mike Hoss, CEO of the Association of Automobile Manufacturers and Traders in the UK, said that more Chinese electric vehicle brands entering the UK not only lower the prices of electric vehicles, but also encourage industry innovation, benefiting both consumers and the automotive industry. The continuous recovery of the Chinese economy is an important benefit for the world economy. "For every 1% increase in China's economy, the economies associated with China will grow by 0.3% more," said Barnett, Chief Representative of the International Monetary Fund in China, stating that the Chinese economy remains an important engine driving the world economy. In the first quarter, China's total import and export volume to countries jointly building the "the Belt and Road" increased by 5.5%, continuing to be an important driving force for global trade growth. The promising economic prospects of China have also attracted more multinational enterprises to explore opportunities and cooperation. Over a hundred executives from multinational corporations are visiting intensively
Edit：Yi Jing Responsible editor：Li Nian
Source：people.com.cn
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