What does it mean? According to experts, China's exports to countries jointly building the "the Belt and Road" increased by 9.4% in August
On the 15th, the State Council Information Office held a press conference and released China's major economic data for August. Among them, the added value of national industries above designated size increased by 4.5% year on year, the total retail sales of consumer goods increased by 4.6% year on year, and the national service industry production index increased by 6.8% year on year. From January to August, the national fixed assets investment increased by 3.2% year on year, and the investment in high-tech industries increased by 11.3% year on year. These areas have achieved year-on-year growth, indicating an accelerated recovery of the national economy in August.
What is behind digital growth?
In addition to achieving year-on-year growth in the total retail sales of consumer goods in the first 8 months, several foreign trade data are also worth paying attention to. Among them, the import and export of private enterprises increased by 6% year-on-year, accounting for 52.9% of the total import and export volume. China's import and export to the "the Belt and Road" co construction countries increased by 3.6% year on year, including 9.4% export growth. Why is there such growth? What do these numbers indicate? Listen to the interpretation of Wu Sa, Deputy Director of the Institute of Economics at the China Academy of Macroeconomics.
Wu Sa said that both the import and export data of the "the Belt and Road" co construction countries and the import and export data of private enterprises in August have performed well, which fully demonstrates that China's economic confidence is constantly improving, vitality is continuously stimulated, and endogenous power is constantly increasing. Especially private enterprises focus on innovation, are good at market development, have strong flexibility and adaptability, so that they can still maintain their competitiveness in imports and exports in the face of weak global economic recovery, slowing global trade and investment, and weakened external demand. Meanwhile, the ability of private enterprises to maintain strong competitiveness in the international market is inseparable from a continuously optimized policy environment. Since the "the Belt and Road" initiative was put forward ten years ago, it has accelerated the pace of economic integration and economic development and reduced trade costs. Since the beginning of this year, China has accelerated the negotiation process of multilateral trade agreements and helped enterprises increase their efforts to explore overseas markets; On the other hand, we will continue to optimize the business environment, target foreign trade enterprises, continue, optimize, and improve tax and fee reduction policies, support the development of foreign trade operators, and restore their motivation and vitality. These all help private enterprises to actively respond to challenges, thereby promoting the stability, quality improvement, and resilience of China's foreign trade scale.
How does the economy view quality and vitality in August?
In the first 8 months, investment in manufacturing increased by 5.9% year-on-year, production of new energy vehicles increased by 13.8% year-on-year, production of solar cells increased by 77.8% year-on-year, and investment in high-tech industries increased by 11.3% year-on-year. What are the trends in China's economic development and changes seen from these numbers? Wu Sa, Deputy Director of the Institute of Economics at the China Academy of Macroeconomics, gave an interpretation.
Wu Sa stated that in August, the growth rate of manufacturing and service industries significantly accelerated, especially the steady development of high-tech manufacturing and high-tech service industries. Among them, the year-on-year growth rate of added value in high-tech manufacturing industry has accelerated by 2.2 percentage points compared to the previous month, and the production of new products is improving. From these data, it is evident that China's modern service industry has shown good growth momentum, with the high-tech service industry continuing to grow at a high rate. This is not only conducive to directly driving economic growth, but also highlights the new progress made in high-quality economic development. To maintain stable economic growth, it is necessary to focus on promoting high-quality economic development and accelerating the construction of a modern industrial system. The next step is to place the development of advanced industrial clusters in a more prominent position, increase scientific and technological innovation efforts, and accelerate the formation of industrial agglomeration benefits. We need to coordinate the transformation and upgrading of traditional industries and the cultivation and growth of emerging industries, promote technological innovation and transformation applications, promote high-end, intelligent, and green transformation, and strengthen the group of high-quality enterprises. We must adhere to a better combination of an effective market and a promising government, and strive to create a good ecosystem for industrial development.