Look at the upward force! , in China's economic report card in May

Today, here, the State Council Information Office held a press conference and the National Bureau of Statistics released the report card on China's economic performance in May.

How was the overall performance? After listening to the entire presentation, the most profound feeling I had was that many fields, many industries, and many data released upward forces.

Let's first talk about consumption, which is relevant to everyone. In May, the total retail sales of consumer goods increased by 3.7% year-on-year, 1.4 percentage points faster than the previous month, and increased by 0.51% month-on-month, which is a recent high. Among these, a trend that cannot be ignored is that the sales of some upgraded products have grown relatively fast. For example, the retail sales of fitness and entertainment products increased by 20.2% in May; the retail sales of cosmetics also increased by 18.7%. It can be said that the shopping during the "May Day" holiday and the consumer goods trade-in that is currently being carried out across the country have all helped to boost our consumption.

In the industrial sector, the upward force is also obvious. From a general perspective, in May, production in 90% of regions and 80% of industries increased. From a specific perspective, the added value of high-tech manufacturing increased by 10%. What does this mean? This growth rate is 4.4 percentage points faster than that of all industries above designated size. To be more specific, we can see that 3D printing equipment increased by 36.3%, new energy vehicles increased by 33.6%, and integrated circuits increased by 17.3%. These products can be said to be top students in growth and are also representatives of the high-end development of our manufacturing industry.

The foreign trade sector is also surging with upward forces. In May, our import and export of goods achieved a year-on-year growth of 8.6%. What specific products are shipped across the ocean to all parts of the world? There are several categories, such as ships, integrated circuits, automobiles, and household appliances. Their export volume has increased by double or even triple digits in the first five months. Have you noticed that these products have one thing in common, that they are all high-tech products and high-value-added electromechanical products, which also reflects the continuous upward force of our Made in China.

The spokesperson of the National Bureau of Statistics today summarized the performance of China's economy in May as "the economy is generally stable, major indicators have rebounded, and new drivers are growing rapidly." We have seen that international organizations such as the World Bank have also recently raised their expectations for China's economic growth. We believe that this upward force will continue to flow and accelerate its release, driving China's economy to continue to recover and improve.

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