From the perspective of the three major industries, the economy stabilized and rebounded in the first quarter

2023/05/12 14:00

Since the beginning of this year, in the face of the severe and complex international environment and the arduous and arduous domestic reform, development, and stability tasks, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at the core, all regions and departments have earnestly implemented the decisions and deployments of the Party Central Committee, and insisted on the word "stability". Seek progress while maintaining stability, fully, accurately, and comprehensively implement the new development concept, accelerate the construction of a new development pattern, focus on promoting high-quality development, better coordinate the two overall domestic and international situations, better coordinate epidemic prevention and control and economic and social development, and better coordinate Development and security, with emphasis on stabilizing growth, employment, and prices, production demand stabilized and rebounded, employment and prices were generally stable, development momentum gradually increased, positive factors accumulated and the economy started well, and the main goals of economic and social development for the year were achieved. The task has laid a good foundation.

With the rapid and stable transition of epidemic prevention and control, the order of production and life has been restored at an accelerated pace, the proactive fiscal policy has been strengthened to improve efficiency, the prudent monetary policy has been precise and powerful, economic growth has picked up, production has generally improved, and the foundation of the real economy has been further consolidated. Showing a recovery trend. According to preliminary calculations, the GDP in the first quarter was 28,499.7 billion yuan, calculated at constant prices, a year-on-year increase of 4.5%, an increase of 1.6 percentage points over the fourth quarter of the previous year; a quarter-on-quarter increase of 2.2%, an increase of 1.6 percentage points.

Agricultural production is stable

Various regions and departments have paid close attention to ensuring the stable production and supply of grain and important agricultural products, vigorously increased agricultural investment, accelerated the application of agricultural science and technology and progressed in an orderly manner in preparation for spring farming. The growth of winter wheat is generally normal, and the production of summer grain is stable and improving. According to the annual planting intention survey, the national intentional planting area of wheat, rice, and corn is basically stable. According to the agricultural situation dispatch of the Ministry of Agriculture and Rural Affairs, as of April 20, the area of spring sown grain in the country has exceeded 160 million mu, and nearly 20% of the intended sown area has been completed, and the progress is slightly faster than that of the same period last year. The animal husbandry industry developed steadily, and the supply of livestock and poultry products was relatively sufficient. In the first quarter, the output of pork, beef, mutton, and poultry was 24.56 million tons, a year-on-year increase of 2.5%; the output of milk and poultry eggs increased by 8.5% and 2.8% respectively.

Industrial production is recovering steadily

The market demand is gradually picking up, the industrial chain and supply chain is being repaired at an accelerated pace, the policies and measures to promote the steady growth of the industrial economy continue to take effect, and the growth rate of industrial production has picked up. In the first quarter, the added value of industrial enterprises above the designated size increased by 3.0% year-on-year, 0.3 percentage points faster than the fourth quarter of the previous year; among the 41 major industrial industries, 23 industries achieved year-on-year growth, with a growth rate of more than 50%, which was the same as that in the fourth quarter of the previous year. Compared with that, the growth rate of the added value of 20 industries rebounded. The trend of industrial upgrading continues, equipment manufacturing capabilities and levels have improved, and "Made in China" has strongly supported industrial development. In the first quarter, the added value of the equipment manufacturing industry above the designated size increased by 4.3% year-on-year, 1.3 percentage points faster than that of industries above the designated size, and contributed 42.5% to the growth of industries above the designated size. 


Significant rebound in the service industry

As the impact of the epidemic gradually subsides, the demand for services, especially contact services, is rapidly released, and the service industry recovers rapidly, which strongly supports economic stabilization and recovery. In the first quarter, the added value of the service industry increased by 5.4% year-on-year, 3.1 percentage points faster than the fourth quarter of the previous year, and contributed 69.5% to economic growth. Residents' consumption of services such as dining out, travel, and entertainment has increased significantly, and related contact service industries have improved significantly. In the first quarter, the added value of the accommodation and catering industry, transportation storage, and postal industry turned from a year-on-year decline in the fourth quarter of the previous year to an increase, with an increase of 13.6% and 4.8% respectively; the added value of the wholesale and retail industry increased by 5.5%, compared with the fourth quarter of the previous year. Speed up by 5.2 percentage points. The digital economy is booming, and modern service industries such as information services continue to lead the development of the service industry. In the first quarter, the added value of the information transmission, software, and information technology service industry increased by 11.2% year-on-year, 5.8 percentage points faster than the growth rate of the service industry.

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