Indicators in multiple fields are “moving up the ladder” and showing a positive trend. China’s economy is confident enough to accelerate its development.
News: The National Bureau of Statistics released April CPI and PPI data on May 11. Data show that in April, residents' consumption demand continued to recover, and the CPI, the national consumer price index, increased by 0.1% month-on-month, turning from a decrease to an increase, rising by 0.3% year-on-year, and the increase slightly expanded.
From a month-on-month perspective, CPI increased by 0.1% from a decrease in the previous month. Among food, the market supply is relatively sufficient, and the prices of fresh vegetables, shrimps and crabs, beef, eggs and fresh fruits have declined.
![Indicators in multiple fields are “moving up the ladder” and showing a positive trend. China’s economy is confident enough to accelerate its development.](https://a5qu.com/upload/images/e2081bd915e9454c984cf14ac68f4105.webp)
Among non-food items, due to the increase in travel during the short and long holidays, the prices of air tickets, transportation rentals, hotel accommodation and tourism have all changed from falling to rising. Affected by the rise in international gold prices and oil prices, domestic gold jewelry and gasoline prices have increased.
From a year-on-year perspective, CPI increased by 0.3%, an increase of 0.2 percentage points larger than the previous month. Among them, the prices of pork and fresh vegetables turned from falling to rising year-on-year, and the prices of fuel vehicles and new energy vehicles both narrowed their year-on-year declines.
![Indicators in multiple fields are “moving up the ladder” and showing a positive trend. China’s economy is confident enough to accelerate its development.](https://a5qu.com/upload/images/563c944dde1ebcbcf9fd049e0eaf9d42.webp)
He Xiaoying, deputy director of the Analysis and Forecasting Department of the Price Monitoring Center of the National Development and Reform Commission, said that from a year-on-year perspective, my country's economy has rebounded for the better, endogenous power continues to strengthen, and the core CPI increase after excluding food and energy has expanded compared with last month. Among the eight categories of goods and services that make up the CPI, except for the decline in the prices of food, tobacco and alcohol, the prices of the other seven categories all increased year-on-year, further consolidating the recovery of residents' consumer demand.
In April, industrial production continued to recover, and the national industrial producer price index PPI fell by 0.2% month-on-month and 2.5% year-on-year, with the decline narrowing by 0.3 percentage points from the previous month.
![Indicators in multiple fields are “moving up the ladder” and showing a positive trend. China’s economy is confident enough to accelerate its development.](https://a5qu.com/upload/images/212975a8f6bd9e5a0744c08ad4a3545f.webp)
Central Bank: RMB loans increased by 10.19 trillion yuan in the first four months of 2024
The central bank released financial statistics for April on May 11. A number of indicators showed that the credit structure continued to be optimized and interest rates remained low.
![Indicators in multiple fields are “moving up the ladder” and showing a positive trend. China’s economy is confident enough to accelerate its development.](https://a5qu.com/upload/images/62173e040b83c8b789cc381a6e4b7199.webp)
According to data from the central bank, in terms of money supply, at the end of April, the balance of broad money was 301.19 trillion yuan, a year-on-year increase of 7.2%.
In terms of credit extension, at the end of April, the balance of RMB loans was 247.78 trillion yuan, a year-on-year increase of 9.6%. In the first four months, RMB loans increased by 10.19 trillion yuan.
![Indicators in multiple fields are “moving up the ladder” and showing a positive trend. China’s economy is confident enough to accelerate its development.](https://a5qu.com/upload/images/b94ac048d6c3c2ac2f29431a31a3176d.webp)
Central Bank: New corporate and personal housing loan interest rates remained at historically low levels in April
In terms of loan interest rates, in April, the weighted average interest rate of new corporate loans was 3.76%, 23 basis points lower than the same period last year; the interest rate of new personal housing loans was 3.7%, 48 basis points lower than the same period last year, both at historical levels. low position.
![Indicators in multiple fields are “moving up the ladder” and showing a positive trend. China’s economy is confident enough to accelerate its development.](https://a5qu.com/upload/images/8d0acb8259c817e33e2d6cfad612de6a.webp)
Zhang Jun, chief economist of China Galaxy Securities, said that credit extension in April is in line with the current economic growth. In the first four months, various loans increased by 10.19 trillion yuan, which was a high level in the same period in history. The "roller coaster" phenomenon of credit extension caused by financial institutions' "good start" in previous years has eased in 2024.
Central Bank: The stock of social financing at the end of April was 389.93 trillion yuan, a year-on-year increase of 8.3%
![Indicators in multiple fields are “moving up the ladder” and showing a positive trend. China’s economy is confident enough to accelerate its development.](https://a5qu.com/upload/images/78928ca2c098364404563dc2375476e8.webp)
In terms of social financing scale, at the end of April, the stock of social financing scale was 389.93 trillion yuan, a year-on-year increase of 8.3%.
From a structural perspective, the growth rate of the balance of green loans and manufacturing mid- and long-term loans remained at a high level of around 30%.
![Indicators in multiple fields are “moving up the ladder” and showing a positive trend. China’s economy is confident enough to accelerate its development.](https://a5qu.com/upload/images/63bf4f8dcdc6e2fafdf8211007c4074d.webp)
At the latest green finance symposium held by four departments including the central bank, the central bank stated that there is a huge demand for funds in green and low-carbon related industries, and it is necessary to give full play to the role of green finance in optimizing resource allocation.
Pan Gongsheng, Governor of the People's Bank of China, said that developing green finance is an important direction for achieving high-quality financial development. At the end of the first quarter, my country’s green bonds issued a total of nearly 3.6 trillion yuan, and the current balance is 1.9 trillion yuan.
![Indicators in multiple fields are “moving up the ladder” and showing a positive trend. China’s economy is confident enough to accelerate its development.](https://a5qu.com/upload/images/5b5bd5c34690229d14bf51d18f56c310.webp)
The consumer price index in April rose 0.3% year-on-year
Data 1: up 0.3%. The National Bureau of Statistics released data on May 11. In April, the national consumer price index rose by 0.3% year-on-year, an increase of 0.2 percentage points from the previous month. Among them, food prices fell by 2.7%, the same decline as last month, while non-food prices increased by 0.9%.
![Indicators in multiple fields are “moving up the ladder” and showing a positive trend. China’s economy is confident enough to accelerate its development.](https://a5qu.com/upload/images/993f37dcca37a8c730cb1e1032a0fa7c.webp)
my country's international balance of payments remained basically balanced in the first quarter
Data two: US$39.2 billion. The latest data from the State Administration of Foreign Exchange shows that in the first quarter of 2024, my country’s international balance of payments maintained a basic balance. Among them, the current account surplus was US$39.2 billion, accounting for 0.9% of the GDP in the same period, which continued to be within a reasonable and balanced range.
![Indicators in multiple fields are “moving up the ladder” and showing a positive trend. China’s economy is confident enough to accelerate its development.](https://a5qu.com/upload/images/8d89328460b7e589a8f54bbdd3cd43d5.webp)
In April, new energy vehicle production and sales both increased by more than 30% year-on-year.
Data three: 35.9% and 33.5%. On May 11, the China Association of Automobile Manufacturers released data showing that in April, my country's automobile production and sales showed rapid year-on-year growth. Among them, the production and sales of new energy vehicles have maintained rapid growth. In April, 870,000 and 850,000 vehicles were completed, a year-on-year increase of 35.9% and 33.5%, respectively, and the market share reached 36%.