111.9 trillion, 16.3%... strong support! Multiple growth data reflect the strong momentum of China’s economy

News: The China Federation of Logistics and Purchasing announced on May 29 the logistics operation data from January to April 2024. As the effects of macroeconomic policies continue to emerge, the national economy continues to rebound and improve, the total volume of social logistics continues to recover, and the growth rate has accelerated.

From January to April, the total amount of social logistics nationwide was 111.9 trillion yuan, a year-on-year increase of 6.1%, and the growth rate was 0.2 percentage points faster than the first quarter. The year-on-year growth in April was 6.6%, an increase of 2.2 percentage points from March.

Liu Yuhang, director of the China Logistics Information Center, said that judging from the social logistics operation situation from January to April, the previous recovery trend has continued, and the foundation has been further consolidated. Especially in the industrial sector, the growth rate of logistics demand is relatively obvious.

From January to April, the total volume of industrial product logistics increased by 5.8% compared with the previous year, an increase of 0.2 percentage points from the first quarter. In April, the total volume of industrial product logistics increased by 6.3% year-on-year, and the growth rate was 1.8 percentage points faster than in March.

The total logistics volume of more than 80% of the industries has rebounded, especially the supporting role of logistics demand in some export-oriented industries has increased. In April, the total volume of automobile manufacturing, communications and other electronic equipment manufacturing, shipbuilding and other transportation equipment manufacturing and logistics increased by 16.3%, 15.6% and 13.2% respectively year-on-year. The growth rate accelerated by 6.9, 5.0 and 4.6 percentage points respectively from the previous month. Equipment manufacturing The overall supporting role of the field in logistics demand remains strong.

In April, the growth rate of import logistics volume turned from negative to positive and increased significantly.

Judging from the situation of import logistics, the growth rate of total import logistics has accelerated. In April, the import logistics volume rebounded significantly, turning from negative year-on-year growth last month to a year-on-year growth of more than 10%.

From January to April, the total import logistics volume increased by 6.8% year-on-year, and the growth rate was 1.3 percentage points higher than that in the first quarter. In April, the import logistics volume increased by 10.8% from a decrease of 0.4% in the previous month, with a significant rebound.

From the perspective of the composition of imported products, driven by the growth in manufacturing logistics demand, the import logistics volume of integrated circuits, diodes and semiconductor devices increased by 20.2% and 15.7% year-on-year in April, indicating an obvious upgrading trend in import logistics.

Liu Yuhang introduced that the demand for imported logistics around transistors and semiconductor devices has increased significantly, indicating that the logistics demand for the entire domestic industrial upgrading and high-end manufacturing sectors has seen relatively good growth.

Logistics demand in areas such as consumer goods production and distribution continues to increase

In the field of people's livelihood consumption, from January to April, the logistics of goods for units and residents increased by 11.0% year-on-year. Online retail sales of physical goods increased by 11.1% year-on-year, accounting for 23.9% of the total retail sales of consumer goods, an increase of 0.6 percentage points from January to March, indicating that logistics demand in the production, circulation and express delivery fields of consumer goods continues to grow.

The vitality of the rural e-commerce logistics market is still strong. In April, the rural e-commerce logistics business volume index was 127.9 points, an increase of 0.2 points from the previous month and an increase of more than 25% from the same period in 2023.

Wang Xifu, a professor at the Department of Logistics Engineering, School of Transportation, Beijing Jiaotong University, said that the demand for high-end, lean and branded fresh agricultural products in the field of consumer logistics is gradually growing. Many agricultural product logistics companies have now established a three-level distribution network of origin warehouses, transfer warehouses and front-end warehouses, which can achieve "seamless connection" of agricultural products from the origin to the consumer, significantly improving efficiency and reducing costs.

Imports of manufacturing intermediate goods increased by 10% in the first four months

In early May, the General Administration of Customs released my country’s foreign trade import and export data for the first four months of 2024. In the first four months of 2024, the total import and export value of my country's goods trade was 13.81 trillion yuan, a year-on-year increase of 5.7%. Among them, imports continued to show a good momentum. The continued improvement of domestic production has led to the acceleration of the import of related products, especially the continued growth of imports of energy, mineral sand and other bulk commodities that ensure domestic production and life.

Customs statistics show that in the first four months of 2024, my country imported 6 trillion yuan, an increase of 6.8%. Among them, the import of manufacturing intermediate goods was 2.89 trillion yuan, an increase of 10%, accounting for 48.2% of the total import value.

What are intermediate goods? According to the United Nations classification standards, international goods are divided into three categories: capital goods, intermediate goods and consumer goods. Among them, intermediate products include raw materials, semi-finished products, parts and components, etc. They are used to produce other goods and services and are the products that cooperate most closely with the international industrial chain and supply chain. Economic globalization has formed an industrial division of labor system among countries, and trade in intermediate goods has accounted for more than half of global trade.

my country's foreign trade has been the largest exporter of intermediate goods in the world for 12 consecutive years, and the import of intermediate goods accounts for 80% of our country's imports. Experts said that intermediate goods and manufacturing are closely linked. my country's continued expansion of imports of intermediate goods is a driving force for global economic growth. Expanding trade in intermediate goods will further leverage the advantages of China's manufacturing industry.

The scale of ship exports ranked first in the country in the first four months

In the first four months of 2024, in terms of my country's foreign trade exports, high value-added advantageous products such as automobiles, ships, and mechanical and electrical products have continued to maintain growth momentum. Jiangsu is the largest province in the country's shipbuilding and offshore engineering industry. It stretches from Nantong Qidong in the east to Yangzhou Yizheng in the west along the Yangtze River's offshore engineering equipment and high-tech shipbuilding industry belt, which gathers 80% of the shipbuilding and offshore engineering manufacturing companies in Jiangsu Province.

According to statistics from Nanjing Customs, in the first four months of 2024, Jiangsu Province exported 34.83 billion yuan of various types of ships, ranking first in the country in terms of export scale, with a year-on-year increase of 90.3%, accounting for 34.7% of the country's total ship export value during the same period. Among them, the exports of container ships and tankers were 17.43 billion yuan and 3.43 billion yuan respectively, with exports increasing 1.9 times and 1.1 times respectively.