Key data take you to understand the pulse of China’s economic development.

CCTV News:The main economic indicators released by the National Bureau of Statistics yesterday (April 18) showed that in the first quarter, production demand stabilized and rebounded, employment prices were generally stable, and economic operation started well.

In the first quarter, the gross domestic product (GDP) was 28,499.7 billion yuan, a year-on-year increase of 4.5% and a quarter-on-quarter increase of 2.2% over the fourth quarter of 2022. After a major decisive victory in epidemic prevention and control, China’s economy gradually picked up and stabilized, once again demonstrating the resilience and vitality of the big country’s economy.

Fu Linghui, spokesperson of the National Bureau of Statistics:In the first quarter, with the rapid and smooth transition of epidemic prevention and control, various policies and measures to stabilize growth, employment and prices were put forward, and positive factors accumulated, and the national economy stabilized and rebounded, making a good start.

Since the beginning of this year, the demand side has continued to improve. The state vigorously implements the strategy of expanding domestic demand and gives priority to restoring and expanding consumption. Under the action of various measures to boost consumption, market sales picked up rapidly. In the first quarter, the total retail sales of social consumer goods increased by 5.8% year-on-year. The service industry grew by 5.4% year-on-year, 3.1 percentage points faster than the fourth quarter of last year. Investment in fixed assets increased by 5.1% year-on-year, among which investment in social and people’s livelihood increased by 8.3% year-on-year, which contributed to the improvement of people’s livelihood.

The supply side is continuously optimized. In the first quarter, the added value of agricultural planting increased by 3.6% year-on-year, and the supply of food security and important agricultural products was more emboldened. The recovery of industrial production was accelerated, and the added value of industrial enterprises above designated size increased by 3.0% year-on-year, 0.3 percentage points faster than that in the fourth quarter of last year, including 3.9% in March, with a growth rate of 1-mdash; It accelerated by 1.5 percentage points in February.

The market vitality is gradually enhanced, and the business entities are expected to improve. In the first quarter, the added value of small and micro enterprises above designated size increased by 3.1% year-on-year, and the prosperity index of small and micro industrial enterprises below designated size also increased by 1.7 percentage points compared with the fourth quarter of last year.

Dong Wei, Executive Vice President of Tsinghua University China Institute of Development Planning:In the first quarter, the recovery of many economic indicators was accelerating. This shows that the central government’s judgment on the economic situation is full and accurate, the implementation of macro-policy combination boxing is accurate and powerful, and the implementation of central policies by all parties is solid and effective, and China’s economy is constantly moving forward on the road of high-quality development.

The new development concept is deeply rooted in the hearts of the people, and the new development pattern is accelerated.

In the first quarter, the contribution rate of final consumption expenditure to economic growth reached 66.6%, which was higher than the contribution of total capital formation. The continuous strengthening of the basic role of consumption is conducive to better coordinating the expansion of domestic demand and deepening the structural reform of the supply side, and enhancing the power and reliability of the domestic big cycle.

To build a modern industrial system, the quality and level of the supply system have been continuously improved. In the first quarter, 23 of the 41 major industrial sectors maintained year-on-year growth, and the growth rate of added value of 20 industries rebounded from the fourth quarter of last year. Among them, the growth of equipment manufacturing industry is particularly obvious. The added value in the first quarter increased by 4.3% year-on-year, and the contribution rate to the growth of industrial enterprises above designated size reached 42.5%. Investment in high-tech manufacturing increased by 15.2% year-on-year.

High-level opening-up and solid progress. In the first quarter, China’s total import and export of goods increased by 4.8% year-on-year, and the total import and export of goods to countries along the Belt and Road increased by 16.8% year-on-year. In the first two months, the actually utilized foreign capital increased by 6.1%.

Yuan Da, Director of the National Economic Comprehensive Department of the National Development and Reform Commission:With the detailed implementation of the decision-making arrangements of the CPC Central Committee and the State Council, the policy effect will be further manifested, the dynamic vitality will be further released, the market confidence will be further enhanced, and the economic recovery will be further consolidated and expanded.