On May 17, the National Bureau of Statistics released data on the operation of the national economy, showing that in April, the economic operation continued to pick up and improve, although some indicators were affected by factors such as the wrong month of holidays and the high base in 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.
We note that among a series of economic data, the data reflecting the real economy is the brightest and the most gratifying. Because, after 16 years of difficulties since the global financial crisis, the topic of the importance of the real economy has attracted more and more common attention from all parties. Especially in a populous country like China, without the support of the real economy, residents' employment, income growth, and social stability will face very severe tests, and very serious problems will arise.
Obviously, the decision-makers have long reached a consensus on this issue, and have introduced many positive and effective policy measures to boost, develop and revitalize the real economy. Although the recovery, development and revitalization of the real economy have not yet fully reached the expected goals due to the influence of internal and external factors, a relatively good recovery momentum has emerged. April's economic data also reflected such a good trend from one side.
On the whole, the added value of industrial enterprises above designated size has improved significantly, and the foundation of the real economy is solid. According to the data, in April, the added value of industrial enterprises above designated size increased by 6.7% year-on-year, 2.2 percentage points faster than the previous month, and increased by 0.97% month-on-month. Although it has not reached the double-digit growth level of the past, it is quite difficult to achieve the growth target of 6.7 percent in the face of a relatively complex and volatile internal and external economic environment, especially in the international economic environment. With the large-scale equipment renewal of industrial enterprises, their production efficiency, product quality, brand competitiveness, etc. will also show a significant upward pattern, and the real economy will enter a more stable and sustainable development track.
Judging from the contents, the gradual improvement in the operating conditions of industrial enterprises above designated size reflects the positive changes in the demand of the consumer market and creates good conditions for the stability of the real economy. The total retail sales of consumer goods in April were affected by the holidays and months, and there was a slight decline, but it was not the overall decline in consumer demand, but a structural decline, and the production demand continued to heat up. According to the data, in April, the production index in China's manufacturing purchasing managers' index (PMI) reached 52.9%, indicating that the production activities of manufacturing enterprises continued to accelerate; The new orders index was 51.1%, continuing above the critical point, indicating that the demand in the manufacturing market remained recovering. In this regard, the 3.5% year-on-year increase in the national service industry production index can also be fully reflected. Therefore, the recovery of the real economy is stable, positive and sustainable, and the role of various policies has produced relatively good results in the field of the real economy, releasing more and more obvious effects.
From a structural point of view, the supporting role of high-end equipment manufacturing is becoming more and more obvious, and the stability of the real economy is getting stronger and stronger. According to the data, from January to April, the equipment manufacturing industry above designated size accounted for 32.4% of the total industrial added value above designated size, and the proportion has continued to increase since the beginning of this year. This is a very representative data, and it is also a data that can fully prove the strength of China's real economy. In today's world, only the strength of the equipment manufacturing industry, especially the high-end equipment manufacturing industry, will the stability of the real economy get better and better, and the ability to cope with various complex situations and risks and challenges will become stronger and stronger. Since the beginning of this year, the continuous stabilization of the economy is inseparable from the stable recovery of the equipment manufacturing industry, which has supported the stable recovery of the entire real economy.
From the trend point of view, high-tech has become the most important force in the real economy, providing a strong impetus for the sustainable development of the real economy. Innovation is the eternal and inexhaustible driving force for the development of the real economy, and the most important starting point for the competitiveness of the real economy. High-tech is the most important evaluation criterion for the strength and weakness of the real economy. According to the data, in April, the added value of high-tech manufacturing accounted for 15.4% of the added value of all industries above designated size, of which the output of new energy vehicles and solar cells increased by 33.2% and 18.2% year-on-year respectively. The most fundamental reason why the United States wants to introduce trade protection measures against China's new energy vehicles and solar cells is that China has surpassed the United States in these areas, which has put pressure on the U.S. government to handle international trade relations in a way that undermines trade rules. Therefore, this also shows from one aspect that China already has relatively strong international competitiveness in the field of high and new technology, and its role in the real economy will become stronger and stronger.
In short, April's economic data is a report card with many bright spots and a lot of attention. The upward revision of China's economic growth forecast by a number of international economic organizations is also a high affirmation and full recognition of the current situation and trend of China's economy. As long as we unswervingly act in accordance with the goals set by the central authorities, China's economy will certainly be able to move towards a better tomorrow, a bigger stage, and a higher platform.