Xinhua News Agency, Beijing, November 17 Title: From the positive changes in market supply and demand in October, We can see china's economic resilience
Xinhua News Agency reporters Wei Yukun and Ding Le
To understand China's economy, an intuitive perspective is the changes in supply and demand at both ends of the market.
The latest October China economic "report card" shows that despite facing many difficulties, industrial production is stable and progressive, the consumer market is running steadily and rising, fixed asset investment is stable and excellent, there are positive new changes at both the supply and demand ends, and the resilience of development continues to appear.
Industrial production rebounds and innovation drives prominently
In the third quarter of this year, the growth rate of industrial production slowed down due to factors such as the epidemic, flood conditions, and the tight supply of some energy raw materials. Since October, with the easing of phased restrictive factors, the market has increased efforts to ensure supply and stabilize prices, and positive changes have occurred in industrial production.
The data shows that in October, the added value of industries above designated size in the country increased by 3.5% year-on-year, an average growth rate of 5.2% in two years, and the growth rate was 0.4 and 0.2 percentage points faster than that of the previous month, respectively, which rebounded for the first time since the year and May.
It is worth noting that the effect of increasing energy production and supply has begun to appear. In October, the added value of the coal and power industries increased by 9.2% and 10.7% respectively year-on-year, 6.3 and 1.8 percentage points faster than the previous month.
Year-on-year increase of 107%! This year's "Double Eleven", the omni-channel turnover of Coworth Group was refreshed again.
"In the first three quarters, the Group's R&D investment increased by more than 50% year-on-year, continued to tackle cutting-edge technologies such as sensors and human-computer interaction, and has achieved a number of landing results, and intelligent manufacturing is constantly generating new kinetic energy." Qian Cheng, vice chairman of The Coworth Group and general manager of Coworth Robotics, said.
On July 1, industrial robots were tested in the industrial robot production workshop of Nanjing Eston Automation Co., Ltd. in Jiangning District, Nanjing, Jiangsu Province. Photo by Xinhua News Agency reporter Li Bo
Innovation is the first driving force for development. Leading development with scientific and technological innovation is a practical need for the transformation and upgrading of the manufacturing industry, and it is also an inherent requirement for promoting the high-quality development of China's economy.
According to statistics, in October, the added value of high-tech and equipment manufacturing industries above designated size increased by 14.7% and 4.7% respectively year-on-year, and the growth rate was 0.7 and 0.4 percentage points faster than that of the previous month, and the pulling effect on economic recovery continued to increase.
"We must also see that the international environment is still complex, commodity prices continue to rise, domestic structural phased problems are more prominent, enterprise cost pressure rises, and efforts are needed to promote the stable recovery of industrial production." Fu Linghui, a spokesman for the National Bureau of Statistics, said.
In view of the problems in the operation of the industrial economy, relevant departments are actively introducing measures to increase market-oriented and inclusive assistance to manufacturing enterprises, help enterprises to alleviate difficulties, and stabilize market expectations.
"In the medium and long term, China's economy has been improving for a long time, the integration of industrialization and informatization has accelerated, the digital transformation of the manufacturing industry has continued to advance, the innovation drive has been continuously enhanced, and the development of the industrial economy has broad prospects." Fu Linghui said.
Consumption has recovered And endogenous power has increased
Consumption is the main engine of economic growth.
"In October, the multi-point local epidemic had a certain impact on the consumer market in some regions, but market sales maintained a recovery trend driven by factors such as holiday consumption and online shopping promotions." Shen Junli, a statistician at the Department of Trade and Foreign Economics of the National Bureau of Statistics, said.
In October, the total retail sales of consumer goods increased by 4.9% year-on-year, and the growth rate was 0.5 percentage points faster than that of the previous month, rebounding for two consecutive months.
In Guangzhou, Guangdong Province, Grandview Plaza, Tianhe Road business district, is fighting a consumption upgrade war: each floor aims at the needs of different age groups, lays out diversified consumption formats such as aquariums and parent-child spaces, and creates an immersive consumer experience.
"We are committed to promoting the formation of a new ecosystem of urban centers that integrate nature, science, humanities and arts, with the proportion of cultural tourism and leisure formats exceeding 30%, and the further integration of culture, commerce, tourism and learning will burst out of new vitality of consumption." Xie Meng, vice chairman and CEO of Grandview Enterprise Group Co., Ltd., said.
Consumption expansion and upgrading have boosted the release of consumption vitality. In the first 10 months, online retail sales of physical goods increased by 14.6% year-on-year, and the consumption of high-quality products and services such as smart household products grew rapidly.
The industry generally believes that China is in a critical stage of consumption structure upgrading, and in the next ten or twenty years, the consumption demand of the Chinese people in the fields of medical, health, tourism and other services will continue to expand.
Scale expansion, structural upgrading, model innovation, the large consumer market contains the driving force for the high-quality development of China's economy. Enhancing the power of the consumption engine is a key move to build a new development pattern and grasp the initiative of development.
Considering the current complex and changeable international environment, the spread of the global epidemic, and the recent spread of the domestic epidemic situation, the restrictive effect on some contact-type consumption is more obvious, and it is necessary to make efforts to stabilize the recovery trend of consumption.
A series of pro-consumption policies are on the way -
Comprehensively promote rural revitalization, continuously narrow the gap between urban and rural development, accelerate the cultivation and construction of international consumption center cities, create a new highland for consumption upgrading, and accelerate the integration of the county rural e-commerce system and express logistics distribution system... Consumption growth is still well supported.
The overall stability of investment and the pace of structural optimization have accelerated
Excavators and pavers are busy! The operating rate in October increased by 74.45% and 67.54% respectively year-on-year.
As a micro indicator to observe economic changes such as fixed asset investment, the "Excavator Index" recently jointly released by Sany Heavy Industry and Shugen Interconnection Company shows that the cumulative start time of various types of construction machinery in China continued to grow steadily in October, and infrastructure investment accelerated recovery.
Workers work in the first intelligent "lighthouse factory" project in the southwest region of Sany Heavy Industry in Chongqing's Liangjiang New Area (photo taken on July 19). Photo by Xinhua News Agency reporter Xu Qin
Looking at the whole country, in the first 10 months, fixed asset investment increased by 6.1% year-on-year, an average growth of 3.8% in two years, of which October increased by 0.15% month-on-month.
The data shows that in the first 10 months, there is no shortage of bright spots in investment.
Investment in high-tech industries grew steadily – investment in high-tech industries increased by 17.3% year-on-year, significantly faster than the growth rate of all investments.
"New kinetic energy is an important force supporting the sustained and steady recovery of China's economy, and China's increased investment in innovative fields such as high-tech industries will form a new competitive advantage in the corresponding industrial chain in the future." Li Chengjian, deputy director of the Second Research Office of the Macro Department of the Development Research Center of the State Council, said.
Investment in the field of making up for shortcomings has grown rapidly - investment in the social sector increased by 10.9% year-on-year, an average growth rate of 10.7% in two years, and the growth rate was 0.2 percentage points faster than that in the first three quarters.
According to the person in charge of Sany Heavy Industry, since August, the start time of small excavators has continued to grow, which means that the demand for new projects represented by the people's livelihood project is constantly being released.
Private investment continued to improve - private investment increased by 8.5% year-on-year, an average growth of 3.8% in two years, and the growth rate was 0.1 percentage points faster than the previous three quarters.
Forging long boards, making up for shortcomings, continuously optimizing the investment structure, and high-quality economic development put forward new and higher demands for future investment.
Looking at the fourth quarter and the beginning of next year, the steady growth of investment is also well supported. Some major projects in the "14th Five-Year Plan" outline have started construction, manufacturing investment has continued to pick up, industrial upgrading has continued to advance, enterprises are expected to be stable, and investment in people's livelihood has increased.
"With the implementation of energy, commodity supply and price stabilization measures and the bailout policy for small and medium-sized enterprises in the manufacturing industry, the vitality of market players will be further stimulated, and the foundation for steady investment growth will be further consolidated." Luo Yifei, chief statistician of the Investment Department of the National Bureau of Statistics, said.
Source: Xinhua Net