CCTV News: Recently, a number of economic data were released, which showed that the consumer demand of mainland residents continued to recover, the production and sales of automobiles showed rapid growth year-on-year, the quality and efficiency of financial support for the real economy continued to improve, and China's economy continued to rebound and further consolidated.
The national consumer price index rose 0.3% year-on-year in April
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According to data released by the National Bureau of Statistics on May 11, in April, as consumer demand continued to recover, the national consumer price index (CPI) rose by 0.3% year-on-year, an increase of 0.2 percentage points from the previous month.
Specifically, in April, among the prices of the eight categories of goods and services that make up the CPI, except for the decline in the prices of food, tobacco and alcohol, the prices of the other seven categories all increased year-on-year; The core CPI, which excludes food and energy, rose by 0.7% year-on-year, an increase of 0.1 percentage points from the previous month, indicating that the recovery of mainland residents' consumption demand has been further consolidated.
In April, industrial production continued to recover, demand in some industries fell in stages, and the national industrial producer price index (PPI) fell by 2.5% year-on-year, a narrower decline than the previous month.
China Association of Automobile Manufacturers: In April, the production and sales of automobiles in mainland China showed rapid year-on-year growth
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On May 11, the China Association of Automobile Manufacturers released data showing that in April, the production and sales of automobiles in mainland China showed rapid growth year-on-year, of which the production and sales of new energy vehicles maintained rapid growth, with a year-on-year increase of more than 30%.
According to the latest data from the China Association of Automobile Manufacturers, China's automobile production and sales in April reached 2.406 million units and 2.359 million units, up 12.8% and 9.3% y/y, respectively. From January to April, the cumulative production and sales were 9.012 million units and 9.079 million units, up 7.9% and 10.2% year-on-year respectively, and the production growth rate increased by 1.5 percentage points compared with the January-March period, and the overall performance continued to improve.
Following the "good start" in the first quarter, the production and sales of new energy vehicles maintained rapid growth. In April, the sales totaled 870,000 units and 850,000 units, up 35.9% and 33.5% y/y, respectively, with a market share of 36%. In April, Continental exported 504,000 units, up 34% y/y, and 1,827,000 units from January to April, up 33.4% y/y.
People's Bank of China: The quality and efficiency of financial support for the real economy continue to improve
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The latest data released by the People's Bank of China shows that from January to April, the quality and efficiency of the mainland's financial support for the real economy continued to improve, and the strength of financial support for the real economy remained stable.
According to the data, at the end of April, the balance of broad money (M2) was 301.19 trillion yuan, a year-on-year increase of 7.2%, maintaining reasonable and abundant liquidity.
At the end of April, the growth of broad money M2 has declined, and experts said that since 2023 is the first year of a stable transition of the epidemic, the growth rate of broad money M2 has rebounded significantly, resulting in a high base. In terms of the two-year average growth rate excluding the impact of the base, the average growth rate of M2 at the end of April 2023 and 2024 was 9.8%, which was higher than the average growth rate of the same period from 2018 to 2022.
In addition, in the first quarter of this year, the National Bureau of Statistics made more reference to the bank's income statement indicators in the accounting of the added value of the financial industry. Experts said that the new accounting method will inevitably lead to a slowdown in the growth of money supply and total loans in the short term. However, in the long run, after the optimization of the accounting method, the growth of the total amount of money and credit and the added value of the financial industry will be more realistic, and the efficiency of capital circulation and turnover will be higher.
Wen Bin, chief economist of China Minsheng Bank, said that recently, many departments have increased the standardization of the phenomenon of "capital idling" and "manual interest supplementation" of banks.