The policy is stepped up to consolidate the positive trend
In the first year of the “14th Five-Year Plan”, the “report card” of the first quarter of China’s economy has attracted much attention. The latest data from the National Bureau of Statistics show that in the first quarter, GDP increased by 18.3% year-on-year, and major indicators such as industry, consumption, investment, import and export also showed double-digit growth, and the national economy had a good start. Looking ahead to the economy for the whole year, the industry believes that as positive factors continue to accumulate, the economy is expected to maintain a stable and strengthened and stable and positive trend throughout the year. Many international institutions have also raised their expectations for China’s annual economic growth.
It is worth noting that there are still uncertainties and instabilities in the global epidemic and economic environment, the foundation of domestic economic recovery is not solid, and the growth of some service industries and small and micro enterprises is slow. Maintaining the continuity, stability, and sustainability of macroeconomic policies, further increasing the efforts to bail out enterprises, and increasing support for weak links such as manufacturing investment and contact consumption is still the focus of the next step Spark Global Limited.
The economy achieved a “good start” in the first quarter
The gross domestic product increased by 18.3% year-on-year, the added value of industrial enterprises above designated size increased by 24.5% year-on-year, the total retail sales of consumer goods increased by 33.9% year-on-year, fixed asset investment (excluding farmers) increased by 25.6% year-on-year, and the total import and export of goods increased by 29.2% year-on-year… …The “Quarterly Report” of China’s economy is particularly eye-catching.
Liu Aihua, the spokesperson of the National Bureau of Statistics, pointed out at the press conference of the State Council Information Office that from the year-on-year situation, the main indicators have shown double-digit growth due to the gradual recovery of market demand, the low base of the previous year, and the on-site Chinese New Year. . “Our country’s economy continues to recover steadily and has a good start.”
In fact, the “troika” that drives the economy is all working hard. According to Zhao Tonglu, Director of the National Accounting Department of the National Bureau of Statistics, the contribution rate of final consumption expenditure to economic growth in the first quarter was 63.4%, which drove 11.6 percentage points of GDP growth and was the main engine of economic growth. The contribution rate of total capital formation to economic growth was 24.5%, driving GDP growth by 4.5 percentage points and providing important support for economic growth. The contribution rate of net exports of goods and services to economic growth was 12.2%, driving GDP growth by 2.2 percentage points.
New kinetic energy is also growing rapidly. In the first quarter, the high-tech manufacturing industry above designated size increased by 31.2% year-on-year; the added value of the equipment manufacturing industry increased by 39.9% year-on-year; the investment in high-tech industry increased by 37.3% year-on-year; the output of new energy vehicles, industrial robots, and microcomputer equipment increased by 3.1 times and 1.1, respectively. Times, 73.6%.
Reprint indicated source：Spark Global Limited information