Economy

National Bureau of Statistics: GDP in the first quarter increased by 5.4% year-on-year, and the national economy started well

2025-04-16   

According to the website of the National Bureau of Statistics, in the first quarter, all regions and departments conscientiously implemented the decisions and deployments of the Party Central Committee and the State Council, adhered to the general tone of seeking progress while maintaining stability, fully and accurately implemented the new development concept, accelerated the construction of a new development pattern, solidly promoted high-quality development, and focused on playing a good macro policy "combination punch". The policy effects continued to be released, the production and supply grew rapidly, the cultivation of new quality productive forces accelerated, domestic demand continued to expand, the overall employment situation remained stable, the national economy achieved a good start, and high-quality development moved towards a new direction. Preliminary calculations show that the gross domestic product (GDP) for the first quarter was 318758 billion yuan, with a year-on-year increase of 5.4% at constant prices and a month on month increase of 1.2% compared to the fourth quarter of the previous year. In terms of industries, the added value of the primary industry was 117.13 billion yuan, a year-on-year increase of 3.5%; The added value of the secondary industry was 1.11903 trillion yuan, an increase of 5.9%; The added value of the tertiary industry was 1.95142 trillion yuan, an increase of 5.3%. 1、 The agricultural production situation is good, with stable growth in animal husbandry in the first quarter. The added value of agriculture (planting) increased by 4.0% year-on-year. The sowing area of winter wheat has steadily increased slightly, and the overall growth is good. Spring plowing and sowing are progressing steadily and orderly. According to the national planting intention survey, the intended planting area for rice and corn has increased. In the first quarter, the production of pigs, cows, sheep, and poultry meat was 25.4 million tons, a year-on-year increase of 2.0%. Among them, the production of pork, beef, and poultry meat increased by 1.2%, 2.7%, and 5.1% respectively, while the production of mutton decreased by 5.1%; Milk production increased by 1.7%, while poultry egg production decreased by 0.1%. At the end of the first quarter, there were 417.31 million live pigs in stock, a year-on-year increase of 2.2%; In the first quarter, 194.76 million pigs were slaughtered, an increase of 0.1%. 2、 The growth of industrial production has accelerated, with equipment manufacturing and high-tech manufacturing growing rapidly. In the first quarter, the added value of industrial enterprises above designated size in China increased by 6.5% year-on-year, which is 0.7 percentage points faster than the whole year of the previous year. Looking at the three major categories, the added value of the mining industry increased by 6.2% year-on-year, the manufacturing industry increased by 7.1%, and the production and supply of electricity, heat, gas, and water increased by 1.9%. The added value of equipment manufacturing industry increased by 10.9% year-on-year, accelerating by 3.2 percentage points compared to the whole year of last year; The added value of high-tech manufacturing increased by 9.7%, accelerating by 0.8 percentage points. In terms of economic types, the added value of state-owned holding enterprises increased by 4.2% year-on-year; Joint stock enterprises increased by 7.2%, while foreign and Hong Kong, Macao, and Taiwan invested enterprises increased by 4.0%; Private enterprises grew by 7.3%. By product, the production of new energy vehicles, 3D printing equipment, and industrial robots increased by 45.4%, 44.9%, and 26.0% year-on-year, respectively. In March, the added value of industrial enterprises above designated size increased by 7.7% year-on-year, an increase of 1.8 percentage points compared to January and February; The month on month growth was 0.44%. In March, the Purchasing Managers' Index for the manufacturing industry was 50.5%, an increase of 0.3 percentage points from the previous month; The expected index of enterprise production and operation activities is 53.8%. In January and February, industrial enterprises above designated size in China achieved a total profit of 911 billion yuan, a year-on-year decrease of 0.3%, and a decrease of 3.0 percentage points compared to the whole year of the previous year. 3、 The service industry has grown rapidly, and the modern service industry has shown good growth momentum. In the first quarter, the added value of the service industry increased by 5.3% year-on-year, accelerating by 0.3 percentage points compared to the whole year of the previous year. Among them, the added value of information transmission, software and information technology services, leasing and business services, transportation, warehousing and postal services, wholesale and retail, accommodation and catering industries increased by 10.3%, 10.2%, 7.2%, 5.8%, and 5.1% respectively. In March, the national service industry production index increased by 6.3% year-on-year, accelerating by 0.7 percentage points from January to February. Among them, the production indices of information transmission, software and information technology services, leasing and business services, wholesale and retail, accommodation and catering industries increased by 9.9%, 9.3%, 7.7%, and 6.0% respectively. In January and February, the operating income of service industry enterprises above designated size increased by 8.2% year-on-year, accelerating by 1.0 percentage point compared to the whole year of the previous year. In March, the service industry business activity index was 50.3%, an increase of 0.3 percentage points from the previous month; The expected index of business activities in the service industry is 57.5%, an increase of 0.6 percentage points. Among them, the business activity index of industries such as water transportation, air transportation, postal services, telecommunications, broadcasting and television, satellite transmission services, and monetary and financial services is in the high prosperity range above 55.0%. 4、 The growth rate of market sales has rebounded, and the sales of goods related to the trade in program have grown rapidly. In the first quarter, the total retail sales of consumer goods reached 1.24671 trillion yuan, a year-on-year increase of 4.6%, which is 1.1 percentage points faster than the previous year. According to the location of the operating units, the retail sales of urban consumer goods reached 1.08057 trillion yuan, a year-on-year increase of 4.5%; The retail sales of consumer goods in rural areas reached 166.14 billion yuan, an increase of 4.9%. By consumption type, the retail sales of goods reached 11064.4 billion yuan, an increase of 4.6%; The catering revenue was 1402.7 billion yuan, an increase of 4.7%. The sales of basic living and some upgraded products have shown good growth, with retail sales of grain and oil food, daily necessities, and sports and entertainment products for units above designated size increasing by 12.2%, 6.8%, and 25.4% respectively. The policy of exchanging old for new consumer goods continues to be effective, with retail sales of communication equipment, cultural and office supplies, household appliances and audiovisual equipment, and furniture for units above designated size increasing by 26.9%, 21.7%, 19.3%, and 18.1% respectively. The national online retail sales amounted to 3624.2 billion yuan, a year-on-year increase of 7.9%. Among them, the online retail sales of physical goods reached 2994.8 billion yuan, an increase of 5.7%, accounting for 24.0% of the total retail sales of consumer goods in society. In March, the total retail sales of consumer goods increased by 5.9% year-on-year, an acceleration of 1.9 percentage points from January to February; A month on month increase of 0.58%. In the first quarter, the service retail sales increased by 5.0% year-on-year. 5、 Fixed assets investment increased steadily. Investment in high-tech industries grew rapidly in the first quarter. fixed assets investment (excluding farmers) nationwide was 10317.4 billion yuan, up 4.2% year on year, 1.0 percentage points faster than the previous year; Excluding real estate development investment, the national fixed assets investment increased by 8.3%. By sector, infrastructure investment increased by 5.8% year-on-year, manufacturing investment increased by 9.1%, and real estate development investment decreased by 9.9%. The sales area of newly-built commercial housing in China was 218.69 million square meters, a year-on-year decrease of 3.0%, which narrowed by 2.1 percentage points compared to January and February; The sales revenue of newly-built commercial housing reached 2079.8 billion yuan, a decrease of 2.1%, narrowing the decline by 0.5 percentage points. Looking at different industries, investment in the primary industry increased by 16.0% year-on-year, investment in the secondary industry increased by 11.9%, and investment in the tertiary industry increased by 0.1%. Private investment increased by 0.4%; Excluding real estate development investment, private investment increased by 6.0%. Investment in high-tech industries increased by 6.5% year-on-year, with investment in information services, aerospace and equipment manufacturing, computer and office equipment manufacturing, and professional technical services increasing by 34.4%, 30.3%, 28.5%, and 26.1%, respectively. In March, fixed assets investment (excluding farmers) grew 0.15% month on month. 6、 The import and export of goods maintained growth, and the trade structure continued to optimize. In the first quarter, the total import and export of goods was 1.03013 trillion yuan, a year-on-year increase of 1.3%. Among them, exports amounted to 613.14 billion yuan, an increase of 6.9%; Imports amounted to 4.17 trillion yuan, a decrease of 6.0%. The import and export of private enterprises increased by 5.8%, accounting for 56.8% of the total import and export volume, an increase of 2.4 percentage points compared to the same period last year. The export of electromechanical products increased by 8.7%. In March, the total import and export volume was 3766.3 billion yuan, a year-on-year increase of 6.0%. Among them, exports amounted to 225.15 billion yuan, an increase of 13.5%; Imports amounted to 1.5148 trillion yuan, a decrease of 3.5%. 7、 Resident consumer prices have remained relatively stable, while industrial producer prices have decreased in the first quarter. The national consumer price index (CPI) has decreased by 0.1% year-on-year. By category, food, tobacco, and alcohol prices have decreased by 0.7%, clothing prices have increased by 1.2%, housing prices have increased by 0.1%, daily necessities and services prices have decreased by 0.4%, transportation and communication prices have decreased by 1.9%, education, culture, and entertainment prices have increased by 0.7%, healthcare prices have increased by 0.3%, and other goods and services prices have increased by 6.0%. In terms of food, tobacco, and alcohol prices, fresh vegetable prices decreased by 5.9%, grain prices decreased by 1.4%, fresh fruit prices decreased by 0.1%, and pork prices increased by 8.1%. After deducting food and energy prices, the core CPI increased by 0.3% year-on-year. In March, the national consumer price index decreased by 0.1% year-on-year, narrowing the decline by 0.6 percentage points compared to the previous month; The month on month decrease was 0.4%. In the first quarter, the ex factory prices of industrial producers in China decreased by 2.3% year-on-year. Among them, the year-on-year decrease in March was 2.5%, and the month on month decrease was 0.4%. In the first quarter, the purchasing prices of industrial producers decreased by 2.3% year-on-year. Among them, the year-on-year decrease in March was 2.4%, and the month on month decrease was 0.2%. 8、 The overall employment situation is stable, with a slight decrease in the urban survey unemployment rate in the first quarter. The average urban survey unemployment rate nationwide is 5.3%. In March, the national urban survey unemployment rate was 5.2%, a decrease of 0.2 percentage points from the previous month. The unemployment rate of local registered residence labor force survey is 5.3%; The unemployment rate of migrant registered residence labor force survey is 4.9%, of which the unemployment rate of migrant agricultural registered residence labor force survey is 5.0%. The surveyed unemployment rate in 31 major cities is 5.2%. The average weekly working hours of employees in enterprises nationwide are 48.5 hours. At the end of the first quarter, the total number of rural laborers who went out to work was 187.95 million, a year-on-year increase of 1.1%. 9、 Resident income has steadily increased, with rural residents' income growing faster than urban residents in the first quarter. The per capita disposable income of residents in China was 12179 yuan, a nominal increase of 5.5% year-on-year, and an actual increase of 5.6% after deducting price factors. Divided by permanent residence, the per capita disposable income of urban residents was 15887 yuan, a nominal increase of 4.9% year-on-year and an actual increase of 5.0%; The per capita disposable income of rural residents was 7003 yuan, a nominal increase of 6.2% year-on-year and an actual increase of 6.5%. From the perspective of income sources, the per capita wage income, net operating income, net property income, and net transfer income of residents in China have increased by 5.9%, 5.7%, 2.7%, and 5.5% respectively in nominal terms. The median per capita disposable income of residents in China was 9939 yuan, a nominal increase of 5.0% year-on-year. Overall, in the first quarter, with the continued effectiveness of various macro policies, the national economy started steadily and had a good start, continuing to recover and improve. The leading role of innovation was enhanced, and new driving forces for development were rapidly cultivated and strengthened. However, it should also be noted that the current external environment is becoming more complex and severe, with insufficient driving force for domestic effective demand growth, and the foundation for sustained economic recovery and improvement still needs to be consolidated. In the next stage, we must resolutely implement the decisions and deployments of the Party Central Committee and the State Council, adhere to the general tone of seeking progress while maintaining stability, fully and accurately implement the new development concept, accelerate the construction of a new development pattern, solidly promote high-quality development, implement more proactive macro policies, strengthen the domestic circulation, fully stimulate the vitality of various business entities, actively respond to the uncertainty of the external environment, and promote stable and continuous improvement in economic operation. (New Society)

Edit:Yao jue Responsible editor:Xie Tunan

Source:China.org.cn

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