The effectiveness of the “combination punch” policy shows that the momentum of economic recovery has strengthened – A look at China’s economic “report card” in October_Southern Network

Xinhua News Agency, Beijing, 15 NovemberTitle: The effectiveness of the “combination punch” policy shows that the trend of economic recovery is increasing – a look at the “report card” of the Chinese economy in October

Xinhua News Agency reporters Pan Jie and Han Jianuo

With the coordinated efforts of existing policies and incremental policies, the effectiveness of the policy “mix” has gradually emerged.

Data published by the National Bureau of Statistics on October 15th showed that key economic indicators such as consumption, service industry, imports and exports rose significantly, social expectations were improving, quality was development developed gradually, a collection of positive things. more, and strengthen the economic recovery movement.

　Key economic indicators have rebounded sharply

The national service industry production index increased 6.3% year on year, 1.2 percentage points faster than the previous month Total sales of consumer goods increased 4.8% year on year, 1.6 percentage points faster than the previous month; … In October, market sales, service industry, import and export and other related indicators Significant recovery.

In terms of market sales, the total sales of consumer goods in October was 4,539.6 billion yuan, a year-on-year increase of 4.8%. Among them, retail sales of goods increased by 5% year on year, and the growth rate accelerated by 1.7 percentage points from the previous month. Driven by the trade-in policy for consumer goods, there was an increase of 39.2%, 18.0%, 7.4%, and 3.7% in the sales of household appliances and audio-visual equipment, cultural office supplies, furniture and cars with units above specified size. respectively, an acceleration of 18.7% from the previous month , 8.0, 7.0, and 3.3 percentage points, which together led the total sales of sales of consumer goods to a growth of 1.2 percentage points.

Looking at the service industry, in October, the service industry production index increased by 6.3% year on year, and the growth rate accelerated by 1.2 percentage points from the previous month, accelerating for two months after each other Driven by gradualist policies, the production index of the financial industry, real estate industry, wholesale and retailing rebounded significantly. more.

From an import and export perspective, against the background of slowing global trade growth, my country’s competitive advantage in merchandise trade continues to show points faster than a month before. Among them, exports grew by 11.2%, an acceleration of 9.6 percentage points.

“With the acceleration of the implementation of several existing policies and the rapid rollout of a gradual policy package, key economic indicators rebounded significantly in October, social prospects continued to improve, the quality of development steadily improved , accumulated and increased positive factors, and the economy. consolidated and regressed with apparent motion.

　　The economy is making steady progress and rising

Sustainable business growth and investment play an important role in the smooth functioning of the economy.

Driven by factors such as major equipment upgrades and industrial upgrades, the added value of businesses above nominal size increased 5.3% year-on-year in October, continuing to maintain steady and rapid growth. The added value of the equipment manufacturing industry increased by 6.6% year on year, which not only supported the rapid growth of the industry, but also promoted the improvement of industrial production efficiency.

The high-end, smart and green manufacturing industry is clearly developing, and a new growth trend is constantly gathering. In October, the added value of high-tech manufacturing increased by 9.4% year-on-year. Among them, the output of integrated circuits and industrial robots increased by 11.8% and 33.4% respectively year on year. The production of smart equipment and green products continued to grow at a rapid pace. respectively.

From an investment perspective, from January to October, national fixed asset investment (excluding rural households) increased by 3.4% year-on-year, maintaining a growth rate of 3.4% for three consecutive months, showing that investment growth has stabilized. Among them, manufacturing investment rose 9.3%, 0.1 percentage point faster than from January to September.

As the effects of the large-scale equipment renewal policy have shown, in the first 10 months, investment in the purchase of equipment and tools increased by 16.1% year-on-year, leading the growth of each investment by 2.1 percentage points, and a ‘ contribute more than 60% to investment growth. The continued efforts in “double-edged” construction have led to a rebound in infrastructure investment. From January to October, infrastructure investment increased by 4.3% year on year, 0.2 percentage points faster than from January to September It was the first rebound in infrastructure investment recently.

Employment and prices are generally stable. In October, the national unemployment rate in the urban survey was 5%, down 0.1 percentage points from last month. In October, the national consumer price index (CPI) rose 0.3% year on year Due to the downward trend in food and energy prices, the increase was slightly lower than the a month before. The core CPI, excluding food and energy prices, rose 0.2% year-on-year, an increase of 0.1 percentage points from the previous month.

　　There is more confidence in achieving full-year economic development goals

“GDP grew 4.8% year-on-year in the first three quarters, laying a solid foundation for achieving full-year development goals. Judging from the changes in economic activity in September and October, especially since October, we have further strengthened the ability to confidently achieve full-year economic development goals.” Fu Linghui said.

He said that confidence comes from strengthening the movement of the recovery of the economy, showing the effects of macro-policy and increasing the expectations and confidence of the market.

October is the first month after the increase policy is launched. Judging from the situation that month, the effects of the policy began to appear, and the main economic indicators went back significantly. and “double stress” policies were greatly increased.

“In the next phase, as several policy measures are implemented and implemented, the effect of the policy mix will emerge further, and the positive factors and favorable conditions in economic activity will continue to prevail size, strongly supporting economic recovery in the economy. fourth quarter.” Fu Linghui said.

With the introduction of a series of gradual policies, market activity has increased significantly in recent times. In October, stock trading volume and stock trading turnover of Shanghai and Shenzhen increased about 1.5 times year on year. Between January and October, the sales area and the number of sales of new commercial homes across the country decreased by 1.3 and 1.8 percentage points respectively from January to September. The improvement in October was the biggest this year.

Business and consumer expectations are also improving. In October, the manufacturing purchasing managers’ index was at 50.1%, an increase of 0.3 percentage points from the previous month. It was the first time since May of this year that it has returned to the expansion zone to 54%, an increase of 2 percentage point from last month. The consumer confidence index rebounded for the first time after falling for six consecutive months, up 1.2 percentage points from the previous month.

Fu Linghui said that in the next step we must diligently implement the decisions and resolutions of the Party Central Committee, make efforts to implement various policies and measures, further strengthen policy cooperation, continue to strengthen the movement of economic recovery, and strive to complete the annual economic growth targets and activities.