China News Service, March 15th. According to the news from the website of the National Bureau of Statistics on the 15th, from January to February, all regions and departments conscientiously studied and implemented the spirit of the 20th National Congress of the Communist Party of China, the spirit of the Second Plenary Session of the 20th Central Committee, and the spirit of the Central Economic Work Conference. The Party Central Committee and the State Council made decisions and deployments, adhered to the general tone of the work of seeking progress while maintaining stability, better coordinated domestic and international situations, better coordinated epidemic prevention and control and economic and social development, better coordinated development and security, and focused on promoting high-quality development. We have done a good job in stabilizing growth, employment, and prices. Production demand has improved significantly, employment prices have generally stabilized, market expectations have accelerated, and economic performance has shown a trend of stabilization and recovery.
1. The recovery of industrial production is accelerating, and business expectations are improving
From January to February, the added value of industrial enterprises above designated size increased by 2.4% year-on-year, 1.1 percentage points faster than that in December 2022; the two-year average growth rate was 4.9%.
In terms of three major categories, the added value of the mining industry increased by 4.7% year-on-year, the manufacturing industry increased by 2.1%, and the production and supply of electricity, heat, gas and water increased by 2.4%.
In terms of economic types, the added value of state-owned holding enterprises increased by 2.7 percent; joint-stock enterprises increased by 4.3 percent; foreign and Hong Kong, Macao and Taiwan-invested enterprises decreased by 5.2 percent; private enterprises increased by 2.0 percent.
In terms of products, the output of solar cells and new energy vehicles increased by 40.8% and 16.3% respectively.
From a month-on-month perspective, the added value of industrial enterprises above designated size in February increased by 0.12% from the previous month.
In February, the Manufacturing Purchasing Managers Index was 52.6%, an increase of 2.5 percentage points from the previous month; the Enterprise Production and Operation Activities Expectation Index was 57.5%, an increase of 1.9 percentage points.
2. The service industry rebounded significantly, and the contact-type and agglomeration-type service industry improved
From January to February, the national service industry production index increased by 5.5% year-on-year, and decreased by 0.8% in December 2022; the two-year average growth rate was 4.8%.
Among them, the information transmission, software and information technology service industry, and the financial industry production index increased by 9.3% and 7.6% respectively year-on-year; the accommodation and catering industry, transportation, warehousing and postal industry, the wholesale and retail industry production index increased by 11.6% and 4.2% respectively %, 3.0%.
In February, the business activity index of the service industry was 55.6%, an increase of 1.6 percentage points from the previous month.
Among them, the business activity index of road transportation, air transportation, postal services, accommodation, leasing and business services and other industries is above 60.0%.
In terms of market expectations, the service industry business activity expectation index was 64.8%, an increase of 0.5 percentage points from the previous month.
3. Market sales turned from a decline to an increase, and the consumption of basic life and upgrades grew rapidly
From January to February, the total retail sales of social consumer goods was 7,706.7 billion yuan, a year-on-year increase of 3.5%, and a decrease of 1.8% in December 2022; the two-year average growth rate was 5.1%.
According to the location of business units, the retail sales of urban consumer goods were 6,679.6 billion yuan, a year-on-year increase of 3.4%; the retail sales of rural consumer goods were 1,027.1 billion yuan, an increase of 4.5%.
In terms of consumption types, retail sales of goods were 6,863.8 billion yuan, an increase of 2.9%; catering revenue was 842.9 billion yuan, an increase of 9.2%.
The sales of basic living commodities grew rapidly. The retail sales of grain, oil, food, clothing, shoes, hats, needles and textiles by enterprises above the designated size increased by 9.0% and 5.4% respectively; sales of some upgraded commodities accelerated, and the sales of gold, silver, jewelry and cosmetics by enterprises above the designated size The retail sales of goods increased by 5.9% and 3.8% respectively.
National online retail sales reached 2,054.4 billion yuan, an increase of 6.2%.
Among them, the online retail sales of physical goods were 1,747.6 billion yuan, an increase of 5.3%, accounting for 22.7% of the total retail sales of social consumer goods.
From a month-on-month perspective, the total retail sales of consumer goods in February decreased by 0.02% from the previous month.
4. Investment in fixed assets grew steadily, and investment in high-tech industries grew rapidly
From January to February, the national fixed asset investment (excluding rural households) was 5,357.7 billion yuan, an increase of 5.5% year-on-year, 0.4 percentage points faster than the whole year of 2022; the two-year average growth rate was 8.8%.
In terms of sectors, infrastructure investment increased by 9.0% year-on-year, manufacturing investment increased by 8.1%, and real estate development investment decreased by 5.7%.
The sales area of commercial housing nationwide was 151.33 million square meters, a decrease of 3.6%; the sales volume of commercial housing was 1,544.9 billion yuan, a decrease of 0.1%.
In terms of industries, the investment in the primary industry increased by 1.5%, the investment in the secondary industry increased by 10.1%, and the investment in the tertiary industry increased by 3.8%.
Private investment increased by 0.8%.
Investment in high-tech industries increased by 15.1%, of which investment in high-tech manufacturing and high-tech service industries increased by 16.2% and 12.3% respectively.
In the high-tech manufacturing industry, the investment in the medical equipment and instrumentation manufacturing industry, and the electronic and communication equipment manufacturing industry increased by 21.3% and 20.5% respectively; in the high-tech service industry, the investment in the transformation of scientific and technological achievements and the R&D and design service industry increased by 65.1% respectively %, 16.9%.
Investment in the social field increased by 8.1%, of which investment in health and education increased by 18.8% and 4.8% respectively.
From a month-on-month perspective, fixed asset investment (excluding rural households) in February increased by 0.72% from the previous month.
5. The import and export of goods decreased slightly, and the trade structure continued to optimize
From January to February, the total import and export of goods was 6,176.8 billion yuan, a year-on-year decrease of 0.8%.
Among them, exports were 3,493.6 billion yuan, an increase of 0.9%; imports were 2,683.3 billion yuan, a decrease of 2.9%.
Import and export balance, trade surplus of 810.3 billion yuan.
The import and export of general trade increased by 1.2%, accounting for 64.9% of the total import and export, an increase of 1.3 percentage points over the same period of the previous year.
The import and export of private enterprises increased by 5.3%, accounting for 51.2% of the total import and export, an increase of 3.0 percentage points over the same period of the previous year.
The export of electromechanical products increased by 0.4%, accounting for 58.0% of the total export.
6. The employment situation is generally stable, and the surveyed urban unemployment rate is basically stable
From January to February, the national surveyed urban unemployment rate averaged 5.6%.
In February, the national surveyed urban unemployment rate was 5.6%, an increase of 0.1 percentage points from the previous month.
The surveyed unemployment rate of the local household registration labor force was 5.4%; the surveyed unemployment rate of the foreign household registration labor force was 5.9%, of which the unemployment rate of the foreign agricultural household registration labor force survey was 6.0%.
The surveyed unemployment rates of the labor force aged 16-24 and 25-59 were 18.1% and 4.8%, respectively.
Among the labor force aged 25-59, the surveyed unemployment rates of those with junior high school education and below, high school education, junior college education, and undergraduate education and above were 5.7%, 5.2%, 4.1%, and 3.0%, respectively.
The surveyed unemployment rate in 31 major cities and towns was 5.7%.
The average weekly working hours of employed persons in enterprises across the country is 47.9 hours.
7. Consumer prices rose moderately, while industrial producer prices fell year-on-year
From January to February, the national consumer price (CPI) rose by 1.5% year-on-year.
In terms of categories, the prices of food, tobacco and alcohol rose by 3.4% year-on-year, that of clothing rose by 0.6%, that of housing fell by 0.1%, that of daily necessities and services rose by 1.5%, that of transportation and communication rose by 1.0%, that of education, culture and entertainment rose by 1.8%, and that of medical The price of health care increased by 0.9%, and the price of other goods and services increased by 2.9%.
Among the prices of food, tobacco and alcohol, the price of fresh vegetables rose by 1.3%, the price of grain rose by 2.7%, the price of pork rose by 7.9%, and the price of fresh fruit rose by 10.8%.
The core CPI after deducting food and energy prices rose 0.8% year-on-year.
In terms of months, the national consumer price in January rose by 2.1% year-on-year and 0.8% month-on-month; in February it rose by 1.0% year-on-year and fell 0.5% month-on-month.
From January to February, the ex-factory price of industrial producers nationwide fell by 1.1% year-on-year.
In terms of months, in January it decreased by 0.8% year-on-year and 0.4% month-on-month; in February it decreased by 1.4% year-on-year and was flat month-on-month.
From January to February, the purchase price of industrial producers decreased by 0.2% year-on-year.
On the whole, from January to February, the economic cycle was accelerated and unimpeded, production demand improved significantly, and economic operation stabilized and picked up.
However, the external environment is becoming more complex, insufficient demand is still prominent, and the foundation for economic recovery is not yet solid.
In the next stage, we must fully implement the spirit of the 20th National Congress of the Communist Party of China, the Second Plenary Session of the 20th Central Committee, and the spirit of the Central Economic Work Conference. In accordance with the deployment of the "Government Work Report", we must adhere to the word "steady", make progress while maintaining stability, and be complete, accurate, and comprehensive. Implement the new development concept, accelerate the construction of a new development pattern, focus on promoting high-quality development, accelerate the implementation of policies, vigorously boost market confidence, promote the overall improvement of economic operation, and strive to achieve effective improvement in quality and reasonable growth in quantity.
(China New Finance and Economics)
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