Over 126 trillion yuan, GDP growth of 5.2%, why is it different from everyone?

The economic data for 2023 will be released, and the total GDP will exceed 126 trillion yuan, a year-on-year increase of 5.2%, is it beyond your expectations? Not only did it exceed your expectations, but it also exceeded the expected growth target of 5% set at the beginning of the year, which is an overfulfilled task.

The economic data is different from many people's perceptions, the unemployment rate seems to be not low, companies are still laying off employees, and they are not making money, let alone spending, and they are all saving money, is this really the case?

In the economic troika in 2023, consumption is undoubtedly the biggest driving force, investment is also a positive pull, but not much, and the contribution of exports to economic growth is negative, dragging it back.

Specifically, the total retail sales of consumer goods for the whole year were 471495 billion yuan, an increase of 7.2% over the previous year. Final consumption expenditure contributed 82.5% to economic growth, driving GDP growth by 4.3 percentage points.

In fact, it is understandable that because of the epidemic in 2022, many people have saved consumption, even daily catering consumption has decreased, and the annual growth rate of consumption and retail is -0.2%, which is a very low base.

After the liberalization in 2023, although everyone still does not buy houses, the sales area and sales of commercial housing throughout the year decreased by 8.5% and 6.5% year-on-year. But the daily consumption of ordinary people's food, clothing and consumption has to be spent. Food and beverage consumption increased by 20.4% year-on-year, the highest growth rate among all consumption types. Clothing, footwear and hats increased by 12.9% year-on-year.

In addition, the growth rate of gold, silver and jewelry, tobacco and alcohol consumption was 13.3% and 10.6% respectively. Speaking of a heart-wrenching reality, consumption still depends on the rich, and ordinary people dare not consume more than they need to meet the needs of daily life.

Some time ago, Hurun released a report that the top five consumer prices of high-net-worth individuals in 2023 will rise year-on-year, including yachts and airplanes, accessories and skin care products, high-end tobacco, alcohol and tea, watches and jewelry, and famous school education, all of which have increased by more than 6%, of which yachts and airplanes have increased by as much as 14.8%.

In 2023, ordinary people will not buy houses, but rich people are buying luxury houses. The transaction volume of 10 million luxury homes in Guangzhou increased by 60% year-on-year, once again setting a new historical record. 4,504 tens of millions of luxury houses were sold in Hangzhou, the highest in the past five years.

Cao Dewang said that only 200 million of China's 1.4 billion people have spending power, which is not wrong at all. That's why people feel that they haven't increased their consumption, but their consumption has risen sharply.

In terms of investment, the growth rate of fixed asset investment continued to decline, and the contribution rate of gross capital formation to economic growth was 28.9%, driving GDP growth by 1.5 percentage points.

Finally, exports will basically have negative growth in 2023, but positive growth has been achieved in the last two months, indicating that foreign trade has begun to pick up. Net exports of goods and services contributed -11.4% to economic growth, driving GDP down by 3.1 percentage points.

Speaking of the things that everyone thinks are not making money, if we look at the added value of industries above designated size, state-controlled enterprises increased by 5% year-on-year, private enterprises increased by 3.1% year-on-year, and foreign-funded enterprises and enterprises with investment from Hong Kong, Macao and Taiwan increased by 1.4% year-on-year. According to the data of the State-owned Assets Supervision and Administration Commission, from January to November, the total profit of state-owned and state-controlled enterprises in the country was 4,121.53 billion yuan, a year-on-year increase of 7.0%.

From these data, we can see that the performance and profit growth of state-owned enterprises are good, and they can be regarded as making money. Of course, private enterprises also make money, and the top three export growth are automobiles, ships, and auto parts.

The most eye-catching in 2023 is automobiles, with production and sales exceeding 30 million units, an increase of 11.6% and 12% respectively, while sales of new energy vehicles increased by 36.2% and exports increased by 57.4%. Therefore, the profits of BYD, Geely, Ideal and other car companies have risen a lot.

It can only be said that the money earned is relatively concentrated, so everyone feels that they are not making money. But in any case, 2023 is definitely better than 2022, there is no doubt about it. Every year there will be new opportunities to make money, it depends on whether the individual can grasp it.