China's high-quality economic development has been steadily promoted (a rational view of the economic situation)

　　Core Reading

　　In 2023, the main goals and tasks of the mainland's economic and social development will be successfully completed, and outstanding results will be achieved in high-quality economic development. In the first two months of this year, the quality of the mainland's economic development continued to improve, and the economic operation continued to pick up and improve. We need to strengthen our confidence in development, maintain our strategic focus, and consolidate and enhance the positive momentum of economic recovery.

　　2023 is the first year for the full implementation of the spirit of the 20th National Congress of the Communist Party of China, and the year for economic recovery and development after the three-year transition of new crown epidemic prevention and control. All regions and departments adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, thoroughly implement Xi Jinping Economic Thought, conscientiously implement the decisions and arrangements of the Party Central Committee and the State Council, adhere to the general tone of the work of seeking progress while maintaining stability, completely, accurately and comprehensively implement the new development concept, accelerate the construction of a new development pattern, successfully complete the main goals and tasks of economic and social development throughout the year, make solid progress in high-quality development, and take solid steps to build a modern socialist country in an all-round way. In the first two months of this year, as the effect of macroeconomic combination policies continued to be released, the mainland's economy continued to recover its internal vitality and the quality of economic development continued to improve. This year marks the 75th anniversary of the founding of the People's Republic of China and a crucial year for achieving the goals and tasks of the 14th Five-Year Plan. We must doubly cherish our hard-won development achievements, enhance our confidence in development, maintain strategic focus, consolidate and enhance the positive momentum of economic recovery, work hard, do good work, and strive to accomplish the goals and tasks of economic and social development for the whole year.

　　The overall economic recovery is improving, and the growth rate ranks among the highest in the world. High-quality development is the dialectical unity of "quality" and "quantity", and must be supported by a certain growth rate. In 2023, the mainland's gross domestic product (GDP) will exceed 126 trillion yuan, an increase of 5.2%, higher than the global projected growth rate of about 3%, ranking among the top of the world's major economies, and its contribution to global economic growth is expected to exceed 30%. From January to February this year, the mainland's economic operation continued to recover, coupled with the strong impetus of the Spring Festival holiday, the national economy started steadily and steadily. The driving force of domestic demand for growth has been markedly strengthened, and it has become a bright spot in the mainland's economic development. On the one hand, consumption has played a ballast role. Thanks to the continuous efforts of pro-consumption policies, new products, new scenarios and new business formats continue to emerge, promoting the quality and upgrading of consumption. In 2023, the total retail sales of consumer goods and services will increase by 7.2% and 20.0% respectively, and the total travel expenditure of domestic residents will increase by 140.3% year-on-year, and the retail sales of services will increase by 12.3% from January to February this year, providing strong support for the expansion of consumer demand. On the other hand, the investment structure continued to be optimized. In 2023, investment in fixed assets (excluding rural households) increased by 3.0% year-on-year, and from January to February this year, investment in fixed assets (excluding rural households) increased by 4.2% year-on-year. In terms of sectors, in 2023, private investment in the accommodation and catering industry will grow rapidly driven by household consumption, while manufacturing investment will increase by 6.5% due to the improvement of manufacturing profitability and the acceleration of transformation and upgrading. From January to February this year, manufacturing investment increased by 9.4 percent, 2.9 percentage points faster than that of the previous year.

　　Remarkable results have been achieved in the construction of a modern industrial system, and industrial upgrading has been steadily promoted. The modern industrial system is the material and technological foundation of a modern country. In 2023, the mainland's agriculture will develop steadily, and the added value of the primary industry will increase by 4.1%. Industrial production has accelerated significantly, and the output of more than sixty percent of industries and products will grow in 2023, driving the added value of the secondary industry to increase by 4.7%, 0.9 percentage points faster than the growth rate in 2022. Among them, the high-end, intelligent and green upgrading of the manufacturing industry has been steadily promoted, and the development advantages have been further consolidated; the added value of the equipment manufacturing industry has increased by 6.8%, contributing nearly half to the growth of all industries above the designated size; the output of new energy vehicles, lithium batteries for automobiles and service robots has increased by 30.3%, 22.8% and 23.3% respectively. From January to February this year, the added value of industrial enterprises above designated size increased by 7.0 percent year-on-year, and the consumer goods manufacturing industry and high-tech manufacturing industry rebounded. The service industry will recover rapidly, and the added value of the tertiary industry will increase by 5.8% year-on-year in 2023, 3.5 percentage points faster than the growth rate in 2022, contributing more than 60% to the national economic growth. Among them, the pace of integration of advanced manufacturing and modern service industries, digital technology and the real economy has accelerated, the added value of information transmission, software and information technology services, leasing and business services has increased by 11.9% and 9.3% respectively, the operating income of strategic emerging service enterprises has increased by 7.7% over the previous year, and the e-commerce transaction volume has reached nearly 47 trillion yuan. From January to February this year, the production index of information transmission, software and information technology services, transportation, warehousing and postal services increased by 10.4% and 7.1% year-on-year respectively, and the development of modern service industries is improving.

　　New breakthroughs have been made in scientific and technological innovation, and fruitful achievements have been made in key core technologies. Scientific and technological innovation is an important support for sustainable economic development and a core element for the development of new quality productive forces. In 2023, the mainland's R&D investment in science and technology will grow rapidly, with the total R&D investment exceeding 3.3 trillion yuan, an increase of 8.1%, of which basic research expenditure will increase by 9.3%. The intensity of R&D investment rose to 2.64%, hitting a record high. The rapid growth of R&D investment has significantly enhanced the R&D capabilities of mainland enterprises and scientific research institutions, and scientific and technological innovation has entered the "fast lane". Remarkable results have been achieved in tackling key core technologies. As of the end of 2023, there were 4.991 million valid invention patents in mainland China, an increase of 18.5% from the end of 2022. Important breakthroughs have been made in domestic substitution and major technology applications in some frontier fields, the quantum computing prototype "Jiuzhan No. 3" has been successfully constructed, and the fully superconducting tokamak nuclear fusion experimental device has ushered in a major breakthrough. A number of major domestic technologies have been put into industrial and commercial application, the C919 large aircraft has been officially put into commercial operation, and the fourth-generation nuclear power plant high-temperature gas-cooled reactor demonstration project has been put into commercial operation. The industrialization of scientific and technological achievements has been continuously strengthened. As of the end of 2023, the National Science and Technology Achievement Transformation Guidance Fund has set up a total of 36 sub-funds, with a total capital scale of 62.4 billion yuan. There are 1,606 state-level science and technology business incubators, and 2,376 state-registered maker spaces. In 2023, the Beijing Stock Exchange will add 77 new listed companies, raising 14.628 billion yuan through public offerings.

　　High-level opening-up has been promoted in depth, and the business environment has continued to improve. Openness is the hallmark of contemporary China. In 2023, the 3rd Belt and Road Forum for International Cooperation was successfully held, resulting in 458 cooperation outcomes. Relevant achievements have continued to be implemented, and economic and trade exchanges between the mainland and the countries of the Belt and Road Initiative have become closer. In 2023, the mainland's imports and exports to the Belt and Road countries will increase by 2.8%, accounting for 46.6% of the total imports and exports. Non-financial direct investment by mainland enterprises in the Belt and Road countries increased by 28.4 percent. The quality of foreign trade is stable and improved. Exports will grow by 0.6% in 2023, outperforming most major economies, despite factors such as insufficient global demand and a high base effect in 2022, while general trade exports with long industrial chains and high added value account for 64.6% of exports, further optimizing the trade structure. From January to February this year, the total import and export volume of goods increased by 8.7% year-on-year, of which exports increased by 10.3% year-on-year and imports increased by 6.7% year-on-year. In 2023, 5.22 million vehicles (including chassis) will be exported, and the mainland will become the world's largest automobile exporter, with the export of new energy vehicles, lithium batteries, and photovoltaic products increasing by nearly 30%, and from January to February this year, the export of mechanical and electrical products will increase by 11.8%, accounting for 59.1% of total exports. The level of marketization, rule of law and internationalization of the business environment continues to improve. The construction of a unified national market has been continuously promoted, measures that hinder a unified market and fair competition have been continuously cleaned up, and the vitality of economic development has been continuously enhanced. In 2023, the import and export of private enterprises will increase by 6.3%, accounting for 53.5% of the total import and export, and from January to February this year, the import and export of private enterprises will increase by 17.7%, accounting for 54.6% of the total import and export.

　　Economic security has been continuously consolidated, and risks and hidden dangers in key areas have been steadily resolved. Security and development are two wings of one body, two wheels of drive. In 2023, the foundation of food security on the mainland will be further consolidated. In the face of extreme weather such as floods, the country's grain output still achieved "20 consecutive bumpers," reaching 1.39 trillion jin, a record high, and firmly holding the Chinese's rice bowl in their own hands. The energy supply is stable and orderly. Total primary energy production increased by 4.2%, and raw coal production reached a record high of 4.71 billion tons. The domestic energy resource output continued to increase, with crude oil production standing at 200 million tons and natural gas production of 232.43 billion cubic meters. The resilience of the industrial chain and supply chain has been continuously enhanced, and the level of autonomy and controllability of key industrial chains has been steadily improved. Risks in key areas such as real estate have been steadily resolved. Various localities have continuously optimized real estate regulation and control policies, reduced mortgage interest rates and down payment ratios, met the reasonable financing needs of real estate enterprises, and stabilized residents' confidence in buying houses.

　　The green and low-carbon transformation has been steadily promoted, and the ecological environment has continued to improve. In 2023, the national average concentration of fine particulate matter (PM2.5) will be 30 micrograms per cubic meter, and the average proportion of days with good air quality in 339 cities at and above the prefecture level will be 85.5%, both exceeding the target at the beginning of the year. The vegetation area has grown steadily, with 4 million hectares of afforestation completed throughout the year, an increase of 170,000 hectares compared to 2022. The formation of a green and low-carbon development model has been accelerated. Wind power and solar power generation increased by 16.2% and 36.7% respectively, faster than the 5.2% growth rate of industrial power generation above designated size. Clean energy consumption accounted for 26.4% of total energy consumption, up 0.4 percentage points, and standard coal consumption per kilowatt-hour of thermal power generation decreased by 0.2%. After deducting the consumption of raw materials and non-fossil energy, the energy consumption per 10,000 yuan of GDP decreased by 0.5% compared with 2022.

　　The people's livelihood protection is strong and effective, and the social security net is further tightly woven. People's happiness and well-being is the ultimate goal of promoting high-quality development. In 2023, the employment situation in mainland China will be generally stable, with the average surveyed urban unemployment rate at 5.2%, down 0.4 percentage points from 2022. The income level and quality of life of residents continued to improve. In 2023, the per capita disposable income of residents in the country will reach 39,218 yuan, an increase of 6.3%, faster than the GDP growth rate. Driven by this, residents' consumption expenditure on education, culture and entertainment increased by 17.6%, and the Engel coefficient decreased from 30.5% in 2022 to 29.8%, indicating that residents' needs for high-quality life are better met. The level and quality of basic public services such as education, health and social security have been continuously improved, and the people's yearning for a better life has gradually become a reality. By the end of 2023, the number of beds in medical and health institutions will increase by 450,000, and residents will have better access to medical care, and the number of people insured by basic old-age, unemployment, and work-related injury insurance will increase by 13.36 million, 5.66 million, and 10.54 million respectively.

　　At the same time, it is also necessary to be soberly aware that the current short-term problems, cyclical factors and long-term structural contradictions in the mainland's economic operation are superimposed, the external environment is still complex and severe, and the difficulties and challenges such as insufficient effective demand, overcapacity in some industries, weak social expectations, and many risks and hidden dangers have restricted the high-quality development of the economy, and hard work is still needed to achieve the main development goals in 2024. It is necessary to comprehensively, objectively, and rationally analyze the current economic situation, and profoundly understand that these difficulties and challenges are all of a phased nature. On the whole, the favorable conditions facing the mainland's development are stronger than the unfavorable factors, and the basic trend of economic rebound and long-term improvement has not changed. At present, the positive factors of the mainland's economic development are constantly accumulating and increasing. With the gradual restoration of the economy's internal vitality, the flow of people, logistics and other factors has become more active, and the economic cycle has gradually improved.

　　As long as we unify our thoughts and actions with the decision-making and deployment of the Party Central Committee, thoroughly study and implement Xi Jinping's economic thought, adhere to the principle of seeking progress while maintaining stability, promoting stability with progress, and establishing first and then breaking down, complete, accurate, By fully implementing the new development concept, coordinating the expansion of domestic demand and deepening supply-side structural reforms, coordinating the comprehensive revitalization of new urbanization and rural areas, coordinating high-quality development and high-level security, giving full play to the advantages of the super-large-scale market and strong production capacity, and relying on reform and opening up to continuously stimulate the endogenous driving force of development, we will be able to overcome difficulties and challenges, and promote the high-quality development of the mainland economy to continuously make new progress and breakthroughs.

People's Daily (2024-03-28 Edition 09)