#时事热点头条说#
2023 is a year of many challenges for China's economy. Under the influence of the new crown epidemic, China's economic growth has slowed, consumer demand is insufficient, and production is oversupplied, which has led to the threat of deflation.
According to the National Bureau of Statistics, China's consumer price index (CPI) fell by 0.3% year-on-year in July 2023, the lowest level since January 2021; The industrial producer price index (PPI) fell 4.4% year-on-year, a decline of 1 percentage point from the previous month.
However, in the context of deflation, the prices of some goods and services have increased. These goods and services mainly include the following categories:
- Commodities affected by international markets.
Due to the rise in the prices of crude oil and non-ferrous metals in the international market, the prices of domestic oil and gas extraction, non-ferrous metal smelting and rolling processing industries all turned from falling to rising, up 4.2% and 0.4% respectively from the previous month. These commodities are more vulnerable to price fluctuations in the international market when supply and demand are unbalanced in the domestic market.
- High-tech industry driven by scientific and technological innovation.
In the first half of 2023, investment in China's high-tech industries increased by 11.5% year-on-year, of which investment in high-tech manufacturing and high-tech services increased by 11.5% and 11.6% respectively. In the high-tech industry, the prices of medical equipment and instrumentation manufacturing, electronic and communication equipment manufacturing, computer manufacturing, intelligent consumer equipment manufacturing, lithium-ion battery manufacturing and other industries have increased month-on-month. These industries benefit from scientific and technological innovation and industrial upgrading, improve product quality and added value, and enhance market competitiveness and pricing power.
- Tourism services affected by seasonal factors.
In July 2023, summer travel increased significantly, with airfare, travel and hotel accommodation prices increasing by 26.0%, 10.1% and 6.5% respectively month-on-month. These services are driven by seasonal demand, with tight supply and demand and natural price increases.
So, what is the impact of these partial price increases on the Chinese economy? We can analyze from the following aspects:
- For producers, some price increases may raise their costs or incomes
- For consumers, some price increases may affect their purchasing power or consumption structure.
- For governments, some price increases may increase their regulatory difficulty or policy space.
In the context of deflation, some price increases are the result of the combined effect of multiple factors such as supply and demand, international market, and scientific and technological innovation. These price increases have different impacts on the Chinese economy and need to be analyzed and responded to according to different situations.