It's disappointing again to Europe and the United States and the big breeders!
The European and American media have always looked down on China, and last year they still shouted five and six times, and the most representative words were:
China's GDP grew by 5% and was a complete failure, and the US GDP grew by 2% and prosperity was restored!
The main one is to carry out the double standard to the end, but now it is a little bit unprogressive, because they have been very collapsed recently, you have to ask why, even European and American capitalists and bankers have come to slap them in the face.
Goldman Sachs raised its forecast for China's economic growth this year, from 4.8% GDP growth to 5.0%;
Citigroup raised from 4.6% to 5.0%;
UBS raised from 4.4% to 5.0%;
Morgan Stanley raised from 4.2% to 4.8%;
Australia's ANZ Bank raised from 4.2% to 4.9%;
Singapore's DBS Bank raised from 4.2% to 4.9%;
The main one is neat and tidy.
Here the European and American media say that China's economy is about to collapse, but their own professional institutions over there have raised their economic growth forecasts.
But after all, this is only an upward revision. No, reality is directly output to their faces. China also recently announced its GDP for the first quarter of 2024, and the result is a year-on-year increase of 5.3% and a quarter-on-quarter increase of 1.6% over the fourth quarter of last year.
According to the IMF's previous forecast for China's GDP growth of only 4.6%, it easily exceeded expectations. At this moment, the European and American media have been making up the "China collapse theory" for decades, and they can only admit that China's economy is indeed very resilient, for example: CNN rarely said that China's economic growth rate is amazing.
Of course, it is more about stating China's economic growth rate is amazing, but also sourly and provocative, for example, the New York Times, the hard-mouthed king, has to add a paragraph when reporting: "But other countries are worried about the influx of Chinese goods." ”
The Associated Press operates similarly, and must be pointed out at the end, "but there are still weaknesses." ”
So what was the good of China's economy in the first quarter?
It can be summed up in one sentence, the manufacturing industry is booming!
According to data released by the National Bureau of Statistics, China's real estate development investment fell by 9.5% year-on-year in the first quarter, of which residential investment fell by 10.5%;
The sales area of newly built commercial buildings decreased by 19.4% year-on-year, of which the sales area of residential buildings decreased by 23.4%. The sales of newly built commercial buildings decreased by 27.6%, of which the sales of residential buildings decreased by 30.7%.
In other words, in the first quarter, China's real estate is still in a continuous downward trend. The European and American media have also been talking about real estate and consumption, and exaggerating the theory of China's collapse.
But it is in this situation that China, relying on its strong manufacturing industry, has produced an astonishing economic report card.
Let's take a closer look at the specific economic data, divided by industry:
the added value of the primary industry was 1,153.8 billion yuan, a year-on-year increase of 3.3 percent;
the added value of the secondary industry was 109846 billion yuan, up by 6.0 percent;
The added value of the tertiary industry was 174915 billion yuan, up by 5.0 percent.
Obviously, the secondary sector is gaining momentum, contributing 37.3% to GDP growth, driving growth by nearly 2%.
In fact, not only GDP has risen much, but all indicators of industrial development are quite optimistic. Among them, in March, the manufacturing purchasing managers' index was 50.8%, up 1.7 percentage points from the previous month, this index is higher than 50%, indicating that the manufacturing industry is in a state of expansion, and below 50%, indicating that the manufacturing economic activity in the manufacturing industry is in a state of contraction, that is, the mainland's manufacturing industry is in a state of expansion.
In addition, the added value of industrial enterprises above designated size increased by 6.1% year-on-year, which is divided into three categories:
the added value of mining increased by 1.6%;
manufacturing grew by 6.7%;
The production and supply of electricity, heat, gas and water increased by 6.9 percent.
By economic type:
the added value of state-controlled enterprises increased by 5.2 percent;
Joint-stock enterprises increased by 6.5 percent, and foreign-funded enterprises and enterprises with investment from Hong Kong, Macao and Taiwan increased by 4.8 percent.
The private sector grew by 5.4 percent.
The added value of high-tech manufacturing increased by 7.5 percent, an acceleration of 2.6 percent compared with the fourth quarter of last year. Not only that, investment in high-tech industries increased by 11.4 percent year-on-year, of which investment in aerospace vehicles and equipment manufacturing increased by 42.7 percent, investment in computer and office equipment manufacturing increased by 11.8 percent, investment in e-commerce services increased by 24.6 percent, and investment in information services increased by 16.9 percent. Isn't it said that China's manufacturing industry has been transferred to India and Vietnam? Why is the growth still so fierce? The key is that it is still constantly upgrading its industries! This will disappoint Europe and the United States again.
Of course, what broke them the most was the export data. If we look through the New York Times' reports on China a few years ago, we feel that China has already collapsed back and forth several times, but what is the result? The first thing that cannot hold back is themselves, especially when reporting on China's import and export situation in the first two months of this year, they are very desperate, saying that China has robbed them of their jobs.
So what about imports and exports in the first quarter?
The total value of imports and exports of goods increased by 5.0% year-on-year. Among them, exports increased by 4.9 percent and imports by 5.0 percent. Imports and exports offset each other, with a trade surplus of 1,306.3 billion yuan. New energy vehicles, lithium batteries, and photovoltaics are very popular, especially electric vehicles, in addition to the market that prohibits Chinese cars from entering, they are basically at the level of indiscriminate killing. Vehicle exports in the first quarter totaled 1.324 million units, up 33.2% y/y.
This has also made many politicians in Europe and the United States break their defenses, and the global discussion about Chinese cars has not stopped. U.S. Treasury Secretary Yellen This is overcapacity, former U.S. President Trump said that you have to hire American workers to enter the U.S. market, and the European Union also plans to take anti-dumping investigations, postpone carbon neutrality and ban on fuel vehicles, and want to use traditional fuel vehicles to seize the market, in short, to curb the development of Chinese automobiles as much as possible.
It should be said that, judging from these economic data, China's economy is improving, and neither the European and American media, nor European and American capital, can not deny this. Of course, I believe that in the near future we will probably look at articles similar to the following titles:
"China's economy is overheating, so at what cost?"
"The Rise of Great Powers and the Dignity of Small People"
"China's economy, I am afraid of the risk of overheating"
"China's economy is beating expectations, from Europe, the United States to South Asia, is losing jobs"
But I still have to say that the sour they are, the happier I am.