On May 17, the National Bureau of Statistics released the operation of the national economy in April 2024. On the whole, the national economy operated smoothly in April and continued to pick up and improve.
The main points are as follows:
In April, the added value of industrial enterprises above designated size increased by 6.7 percent year-on-year, 2.2 percentage points faster than the previous month, and 0.97 percent month-on-month.
The national service industry production index increased by 3.5% year-on-year.
The total retail sales of consumer goods were 3,569.9 billion yuan, an increase of 2.3 percent year-on-year and 0.03 percent month-on-month.
From January to April, the average surveyed unemployment rate in urban areas nationwide was 5.2 percent, down 0.2 percentage points from the same period last year.
In April, consumer prices (CPI) rose 0.3% year-on-year, an increase of 0.2 percentage points from the previous month and 0.1% month-on-month.
The full text is as follows:
In April, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core, all regions and departments conscientiously implemented the decisions and arrangements of the CPC Central Committee and the State Council, adhered to the general tone of seeking progress while maintaining stability, completely, accurately and comprehensively implemented the new development concept, accelerated the construction of a new development pattern, solidly promoted high-quality development, and intensified the implementation of macro policies.
First, industrial production has accelerated, and the equipment manufacturing industry and high-tech manufacturing industry have grown rapidly
In April, the added value of industrial enterprises above designated size increased by 6.7 percent year-on-year, 2.2 percentage points faster than the previous month, and 0.97 percent month-on-month. In terms of the three major categories, the added value of the mining industry increased by 2.0 percent year-on-year, the manufacturing industry increased by 7.5 percent, and the production and supply of electricity, heat, gas and water increased by 5.8 percent. The added value of the equipment manufacturing industry increased by 9.9 percent, an increase of 3.9 percentage points over the previous month, and the added value of the high-tech manufacturing industry increased by 11.3 percent, an increase of 3.7 percentage points. In terms of economic types, the added value of state-controlled enterprises increased by 5.4 percent; joint-stock enterprises increased by 6.9 percent, and foreign-funded enterprises and enterprises with investment from Hong Kong, Macao and Taiwan increased by 6.2 percent; The private sector grew by 6.3 per cent. In terms of products, the output of 3D printing equipment, new energy vehicles and integrated circuit products increased by 55.0%, 39.2% and 31.9% year-on-year respectively. From January to April, the added value of industrial enterprises above designated size increased by 6.3 percent year-on-year, 0.2 percentage points faster than that from January to March. In April, the manufacturing purchasing managers' index was 50.4%, and the expected index of business and business activities was 55.2%. From January to March, the total profit of industrial enterprises above designated size reached 1,505.5 billion yuan, a year-on-year increase of 4.3 percent.
Second, the service industry continues to recover, and the modern service industry has developed well
In April, the national service industry production index increased by 3.5% year-on-year. In terms of different industries, the production index of information transmission, software and information technology services, leasing and business services, finance, transportation, warehousing and postal services increased by 10.8 percent, 6.1 percent, 5.4 percent and 4.3 percent year-on-year respectively, which was 7.3, 2.6, 1.9 and 0.8 percentage points faster than the production index of the service industry. From January to April, the national service industry production index increased by 5.0% year-on-year. From January to March, the operating income of service enterprises above designated size increased by 8.5% year-on-year. In April, the index of business activity in the service sector was 50.3%; The expected index of business activity in the service sector was 57.4%. Among them, the business activity index of railway transportation, road transportation, postal services, telecommunications, radio and television, and satellite transmission services is in the relatively prosperous range of more than 55.0%.
Third, the market sales maintained growth, and the growth trend of service consumption was good
In April, the total retail sales of consumer goods reached 3,569.9 billion yuan, a year-on-year increase of 2.3%; Month-on-month, it increased by 0.03%. In terms of the location of business units, the retail sales of urban consumer goods were 3,102.6 billion yuan, a year-on-year increase of 2.1 percent; The retail sales of rural consumer goods were 467.3 billion yuan, up by 3.5 percent. In terms of consumption type, retail sales of goods were 3,178.4 billion yuan, up by 2.0 percent; catering revenue was 391.5 billion yuan, an increase of 4.4 percent. The retail sales of basic living goods and some upgraded commodities increased rapidly, and the retail sales of communication equipment, sports and recreational goods, grain, oil, food, and beverages of units above designated size increased by 13.3 percent, 12.7 percent, 8.5 percent, and 6.4 percent respectively. From January to April, the total retail sales of consumer goods 156026 billion yuan, a year-on-year increase of 4.1%. The national online retail sales were 4,411 billion yuan, a year-on-year increase of 11.5%. Among them, the online retail sales of physical goods were 3,735.6 billion yuan, an increase of 11.1 percent, accounting for 23.9 percent of the total retail sales of consumer goods. From January to April, retail sales of services increased by 8.4% year-on-year.
Fourth, the scale of investment in fixed assets has expanded, and investment in high-tech industries has grown rapidly
From January to April, the national investment in fixed assets (excluding rural households) 143401 billion yuan, a year-on-year increase of 4.2%; Excluding investment in real estate development, the national investment in fixed assets increased by 8.9 percent. By sector, infrastructure investment increased by 6.0 percent year-on-year, manufacturing investment increased by 9.7 percent, and real estate development investment decreased by 9.8 percent. The sales area of newly built commercial buildings nationwide was 292.52 million square meters, a year-on-year decrease of 20.2%; The sales of newly built commercial buildings were 2,806.7 billion yuan, down by 28.3 percent. By industry, investment in the primary industry increased by 1.9 percent year-on-year, investment in the secondary industry increased by 13.0 percent, and investment in the tertiary industry increased by 0.3 percent. private investment increased by 0.3%; Excluding investment in real estate development, private investment increased by 7.2 percent. Investment in high-tech industries increased by 11.1 percent year-on-year, of which investment in high-tech manufacturing and high-tech services increased by 9.7 percent and 14.5 percent respectively. In the high-tech manufacturing industry, the investment in aviation, spacecraft and equipment manufacturing, and computer and office equipment manufacturing increased by 49.6 percent and 10.2 percent respectively; Among the high-tech service industries, investment in e-commerce services and information services increased by 27.6 percent and 19.9 percent respectively. In April, investment in fixed assets (excluding rural households) decreased by 0.03% month-on-month.
Fifth, the import and export of goods grew rapidly, and the trade structure continued to be optimized
In April, the total import and export value of goods was 3,638.9 billion yuan, a year-on-year increase of 8.0 percent. Among them, exports were 2,076.2 billion yuan, an increase of 5.1 percent; imports were 1,562.7 billion yuan, up by 12.2 percent. Imports and exports were offset, with a trade surplus of 513.5 billion yuan. From January to April, the total import and export volume of goods 138053 billion yuan, an increase of 5.7 percent. Among them, exports were 7,811.3 billion yuan, an increase of 4.9 percent; imports were 5,994 billion yuan, an increase of 6.8 percent. From January to April, the import and export of general trade increased by 5.3 percent, accounting for 65.1 percent of the total import and export. The import and export of private enterprises increased by 10.7 percent, accounting for 54.6 percent of the total import and export, an increase of 2.5 percentage points over the same period of last year. Exports of mechanical and electrical products increased by 6.9 percent, accounting for 59.2 percent of total exports.
6. The employment situation is generally stable, and the surveyed unemployment rate in urban areas has declined
From January to April, the average surveyed unemployment rate in urban areas was 5.2 percent, down 0.2 percentage points from the same period last year. In April, the surveyed urban unemployment rate was 5.0 percent, down 0.2 percentage points from the previous month and the same month last year. The unemployment rate of the local registered labour force survey was 5.1%; The surveyed unemployment rate of the migrant labor force was 4.9%, of which the surveyed unemployment rate of the migrant agricultural labor force was 4.5%. The surveyed unemployment rate in 31 large cities and towns was 5.0 percent. The average weekly working hours of employees in enterprises nationwide are 48.5 hours.
7. The year-on-year increase in consumer prices has been steady and rising, while the year-on-year decline in industrial producer prices has narrowed
In April, the national consumer price index (CPI) rose by 0.3% year-on-year, an increase of 0.2 percentage points from the previous month, and rose by 0.1% month-on-month, from a decrease of 1.0% in the previous month. By category, the prices of food, tobacco and alcohol decreased by 1.4 percent year-on-year, clothing rose by 1.6 percent, housing prices rose by 0.2 percent, daily necessities and services rose by 1.4 percent, transportation and communication prices rose by 0.1 percent, education, culture and entertainment prices rose by 1.8 percent, medical care prices rose by 1.6 percent, and other articles and services prices rose by 3.8 percent. Among the prices of food, tobacco and liquor, the price of fresh fruits decreased by 9.7 percent, the price of grain rose by 0.5 percent, the price of fresh vegetables rose by 1.3 percent, and the price of pork rose by 1.4 percent. The core CPI, which excludes food and energy prices, rose 0.7% year-on-year, an increase of 0.1 percentage points from the previous month. From January to April, the national consumer price rose by 0.1% year-on-year.
In April, the ex-factory prices of industrial producers nationwide fell by 2.5 percent year-on-year, 0.3 percentage points narrower than that of the previous month, and 0.2 percent month-on-month. The purchasing prices of industrial producers nationwide decreased by 3.0 percent year-on-year and 0.3 percent month-on-month. From January to April, the ex-factory prices and purchase prices of industrial producers nationwide fell by 2.7 percent and 3.3 percent year-on-year respectively.
On the whole, the national economy operated smoothly in April, although some indicators were affected by factors such as the wrong month of holidays and the high base of the same period last year, the growth rate slowed down, but the main indicators such as industry, exports, employment, and prices improved overall, and the new momentum maintained rapid growth, and the national economy continued to pick up and improve, and positive factors accumulated. However, it should also be noted that the complexity, severity and uncertainty of the external environment have increased significantly, and the economy is still facing many difficulties and challenges in its sustained recovery. In the next stage, it is necessary to adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the spirit of the meeting of the Political Bureau of the CPC Central Committee, 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, focus on promoting high-quality development, make efforts to effectively implement the macro policies that have been determined, consolidate and enhance the positive trend of economic recovery, and continue to promote the economy to achieve effective qualitative improvement and reasonable quantitative growth.
Source: National Bureau of Statistics website, CCTV News