Cctv newsThe sales data in May increased rapidly, while other indicators continued to weaken. What are the specific reasons? How to evaluate the overall economic operation in May? On June 14th, the State Council held a press conference on the operation of the national economy in May, and CCTV reporters asked questions about the newly released data.
When answering a reporter’s question, Fu Linghui, spokesman of the National Bureau of Statistics, said that when observing the economic operation, the monthly fluctuation of economic indicators is relatively normal, so when analyzing economic problems, it is usually necessary to comprehensively analyze them and grasp them from the general trend. On the whole, the economic operation in May still maintained a generally stable and steady development trend. Specifically, it has the following characteristics:
First, production is progressing steadily. The production of service industry still maintained rapid growth. In May, the service industry production index increased by 7.0% year-on-year, and has maintained a rapid growth of more than 7% since this year. The growth rate of modern service industries such as information transmission, software and information technology services, leasing and business services still maintained rapid growth. From the perspective of service industry operating income and service industry operating profit, from January to April, it maintained a relatively fast level of more than 9%. In May, the business activity index of service industry was 53.5%, up 0.2 percentage points from last month. From the industrial point of view, the industrial structure is still continuously optimized. From January to May, industries above designated size grew by 6%, maintaining overall stability. Among them, industries with relatively high technical content and high added value maintained rapid growth, which promoted industrial growth. In May, the added value of high-tech manufacturing industry increased by 9.4% year-on-year, which was obviously faster than the growth of industries above designated size.
Second, the demand continues to expand. In terms of market sales, the total retail sales of social consumer goods in May increased by 8.6% year-on-year, 1.4 percentage points faster than last month. After deducting the price factor, the growth rate of social zero in May was 6.4%, which was 1.3 percentage points higher than that of the previous month. Among them, the catering revenue increased by 9.4%, which was significantly faster than the retail sales growth. Judging from the export situation, China’s exports continued to grow rapidly in May, up 7.7% year-on-year, 4.6 percentage points faster than last month. Exports to some major trading partners such as the European Union and ASEAN are even faster. In May, the trade surplus expanded by nearly 90% year-on-year, and the effectiveness of building the "Belt and Road" continues to emerge. From January to May, our import and export growth to countries along the Belt and Road reached 9%, 4.9 percentage points higher than the total import and export growth rate, accounting for 28.8% of the total import and export, up 1.3 percentage points year-on-year.
Third, the employment and price situation is stable. In May, the urban survey unemployment rate remained at a stable level of 5%. From January to May, the number of new jobs in cities and towns reached 5.97 million, and the proportion of completing the annual target reached 54%. At the same time, consumer prices maintained a moderate increase. In May, the CPI rose by 2.7% year-on-year, of which the core CPI rose by 1.6%, and the market supply and demand maintained an overall balance.
Fourth, innovation-driven strengthening. Investment in innovation continued to increase, and the number of patent applications increased significantly. From January to April, the number of invention patent applications nationwide reached 439,000, industrial transformation and upgrading were also accelerated, and new products maintained rapid growth. From January to May, investment in high-tech industries increased by 11.9%, of which the growth rate of investment in R&D and design services reached 27.1%. Investment in technological transformation of manufacturing industry increased by 15%, and the growth of some new products such as new energy vehicles and solar cells remained at double-digit level.
Fu Linghui finally stressed that, on the whole, the overall economic operation in May maintained a generally stable, steady and progressive development trend. Of course, we should also see that external instability and uncertainties are increasing, and the problem of insufficient domestic development imbalance is still outstanding. From the next stage, it is still necessary to make overall plans to stabilize growth, promote reform, adjust the structure, benefit people’s livelihood, prevent risks, ensure stability, implement the "six stabilities" policy, and promote sustained and healthy economic development.