In May, the national economy continued to recover, transform and upgrade, and continued to promote investment | year-on-year | National economy

Release time:Apr 13, 2024 21:49 PM

According to data released by the National Bureau of Statistics on June 15th, in May 2023, China's production and demand steadily recovered, employment prices remained generally stable, transformation and upgrading continued to advance, and economic operation continued to recover.

The service industry is growing rapidly, and the contact based clustering service industry is continuously improving

In May, the national service industry production index increased by 11.7% year-on-year, a decrease of 1.8 percentage points from the previous month. Looking at industries, the production index of accommodation and catering, leasing and business services, wholesale and retail, information transmission, software and information technology services increased by 39.5%, 14.0%, 13.2%, and 12.9% year-on-year, respectively. From January to May, the national service industry production index increased by 9.1% year-on-year, which is 0.7 percentage points faster than from January to April. From January to April, the operating revenue of service industry enterprises above designated size increased by 6.9% year-on-year. In May, the business activity index of the service industry was 53.8%, and the expected business activity index was 60.1%. Among them, the business activity index of railway transport, water transport, air transport, telecommunications, radio and television and satellite transmission services, Internet software and information technology services and other industries was in a high boom zone above 60%.

Industrial production is growing steadily, while equipment manufacturing is growing rapidly

In May, the added value of industries above designated size in China increased by 3.5% year-on-year, a decrease of 2.1 percentage points from the previous month; A month on month increase of 0.63%. Looking at the three major categories, the added value of the mining industry decreased by 1.2% year-on-year, the manufacturing industry increased by 4.1%, and the production and supply of electricity, heat, gas, and water increased by 4.8%. The added value of the equipment manufacturing industry increased by 8.0% year-on-year, 4.5 percentage points faster than that of large-scale industries. From the perspective of economic types, the added value of state-owned holding enterprises increased by 4.4% year-on-year; Joint stock enterprises increased by 3.5%, while foreign and Hong Kong, Macao, and Taiwan invested enterprises increased by 4.2%; Private enterprises grew by 0.7%. In terms of products, the production of solar cells, new energy vehicles, and service robots increased by 53.1%, 43.6%, and 34.3% year-on-year, respectively. From January to May, the added value of industries above designated size in China increased by 3.6% year-on-year, which is the same as from January to April. In May, the Purchasing Managers Index for the manufacturing industry was 48.8%, and the expected index for enterprise production and operation activities was 54.1%.

Market sales continue to recover, with sales of upgraded products growing rapidly

In May, the total retail sales of consumer goods reached 3780.3 billion yuan, a year-on-year increase of 12.7%, a decrease of 5.7 percentage points from the previous month; A month on month increase of 0.42%. According to the location of the operating unit, the retail sales of urban consumer goods reached 3290.6 billion yuan, a year-on-year increase of 12.7%; The retail sales of rural consumer goods reached 489.7 billion yuan, an increase of 12.8%. By consumption type, the retail sales of goods reached 3373.3 billion yuan, an increase of 10.5%; Catering revenue reached 407 billion yuan, an increase of 35.1%. The sales of upgraded products have grown rapidly, with retail sales of communication equipment above quota, gold and silver jewelry, and sports and entertainment products increasing by 27.4%, 24.4%, and 14.3%, respectively. From January to May, the total retail sales of consumer goods reached 18763.6 billion yuan, a year-on-year increase of 9.3%, an increase of 0.8 percentage points from January to April. The national online retail sales reached 5690.6 billion yuan, a year-on-year increase of 13.8%, an increase of 1.5 percentage points from January to April. Among them, the online retail sales of physical goods reached 4805.5 billion yuan, an increase of 11.8%, accounting for 25.6% of the total retail sales of consumer goods in society.

The scale of fixed assets investment expanded, and investment in high-tech industries grew rapidly

In January May, the national fixed assets investment was 18881.5 billion yuan, up 4.0% year on year, 0.7 percentage points lower than that in January April. Looking at different sectors, infrastructure investment increased by 7.5% year-on-year, manufacturing investment increased by 6.0%, and real estate development investment decreased by 7.2%. The sales area of commercial housing nationwide is 464.4 million square meters, a year-on-year decrease of 0.9%; The sales revenue of commercial housing reached 4978.7 billion yuan, an increase of 8.4%. By industry, investment in the primary industry increased by 0.1% year-on-year, investment in the secondary industry increased by 8.8%, and investment in the tertiary industry increased by 2.0%. Private investment decreased by 0.1%. The investment in high-tech industries increased by 12.8% year-on-year, with investment in high-tech manufacturing and high-tech service industries increasing by 12.8% and 13.0% respectively. In the high-tech manufacturing industry, investment in medical equipment and instrument manufacturing, as well as electronic and communication equipment manufacturing, increased by 18.8% and 16.1% respectively; In the high-tech service industry, investment in technology achievement transformation services and professional technology services increased by 47.4% and 40.6% respectively. In May, fixed assets investment increased by 0.11% month on month.

The import and export of goods continue to grow, and the trade structure continues to optimize

In May, the total import and export volume of goods was 3446 billion yuan, a year-on-year increase of 0.5%. Among them, exports amounted to 1949.2 billion yuan, a decrease of 0.8%; Imports reached 1496.8 billion yuan, an increase of 2.3%. Import and export offset each other, with a trade surplus of 452.3 billion yuan. From January to May, the total import and export volume of goods was 16771.4 billion yuan, a year-on-year increase of 4.7%. Among them, exports reached 9621.4 billion yuan, an increase of 8.1%; Imports reached 7150 billion yuan, an increase of 0.5%. From January to May, the import and export of general trade increased by 7.0% year-on-year, accounting for 65.6% of the total import and export volume, an increase of 1.4 percentage points compared to the same period last year. The import and export of private enterprises increased by 13.1%, accounting for 52.8% of the total import and export volume, an increase of 3.9 percentage points compared to the same period last year. The export of mechanical and electrical products increased by 9.5%, accounting for 57.9% of the total export volume.

The overall employment situation is stable, and the urban survey unemployment rate remains the same as last month

In May, the national urban survey unemployment rate was 5.2%, unchanged from the previous month. The unemployment rate of local registered residence labor force survey is 5.1%; The unemployment rate of migrant registered residence labor force survey is 5.4%, of which the unemployment rate of migrant agricultural registered residence labor force survey is 4.9%. The surveyed unemployment rates for the 16-24 and 25-59 age groups were 20.8% and 4.1%, respectively. Among the labor force aged 25-59, the surveyed unemployment rates for those with junior high school education or below, high school education, college education, and bachelor's degree or above are 4.4%, 4.4%, 4.1%, and 3.2%, respectively. The surveyed unemployment rate in 31 major urban areas is 5.5%. The average weekly working time for employees in enterprises nationwide is 48.6 hours.

Residential consumption prices have slightly increased year-on-year, while industrial producer prices have decreased year-on-year

In May, the national consumer prices increased by 0.2% year-on-year and decreased by 0.2% month on month. By category, the prices of food, tobacco, and alcohol increased by 1.2% year-on-year, clothing prices increased by 0.9%, residential prices decreased by 0.2%, daily necessities and services prices decreased by 0.1%, transportation and communication prices decreased by 3.9%, education, culture, and entertainment prices increased by 1.7%, healthcare prices increased by 1.1%, and other goods and services prices increased by 3.1%. In terms of food, tobacco, and alcohol prices, pork prices have decreased by 3.2%, fresh vegetable prices have decreased by 1.7%, grain prices have increased by 0.5%, and fresh fruit prices have increased by 3.4%. After deducting food and energy prices, the core CPI increased by 0.6% year-on-year. From January to May, the national consumer price increased by 0.8% year-on-year.

In May, the ex factory prices of industrial producers nationwide decreased by 4.6% year-on-year and 0.9% month on month. The purchasing prices of industrial producers nationwide decreased by 5.3% year-on-year and 1.1% month on month. From January to May, the factory prices and purchase prices of industrial producers nationwide decreased by 2.6% and 2.3% year-on-year, respectively.

"Overall, in May, the national economy continued to recover and transformation and upgrading continued to advance," said Fu Linghui, spokesperson for the National Bureau of Statistics and Director of the Department of Comprehensive Statistics of the National Economy. However, it should also be noted that the international environment is complex and severe, domestic structural adjustment pressure is high, and the foundation of economic recovery is not yet stable. In the next stage, we must adhere to the overall tone of seeking progress while maintaining stability, fully, accurately, and comprehensively implement the new development concept, accelerate the construction of a new development pattern, promote high-quality economic development, comprehensively deepen reform and opening up, focus on restoring and expanding demand, accelerate the construction of a modern industrial system supported by the real economy, combine the effectiveness of policies, stimulate the vitality of business entities, and stabilize market confidence, consolidate the foundation of economic recovery and promote the effective improvement of quality and reasonable growth of quantity in the economy.

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According to Hong Kong's Wen Wei Po, a bloody knife stabbing case occurred at Hollywood Square in Diamond Hill last Friday. The police arrested a 39 year old man on suspicion of stabbing two young women, one of whom was stabbed over 30 times. The suspect appeared in the Kwun Tong Magistrates Court this morning. The police at the Kwun Tong Magistrate's Court temporarily charged the suspect with two counts of murder last Sunday. The suspect appeared in court this morning at the Kwun Tong Magistrate's Court. Acting Chief Magistrate Zheng Jihang, after listening to the opinions of both the prosecution and defense, decided to postpone the hearing for two weeks until 9:30 am on June 19th, waiting for two psychiatric expert reports to be obtained. The defense did not object. Zheng Jihang approved the application, and the defendant needs to be temporarily detained at Xiaolan Mental Hospital. When the suspect appeared in court, he wore black framed glasses, a light gray shirt, and camouflage green shorts, and was able to answer the judge's questions normally. accordingly

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