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The "report card" was released in the first quarter. What signals did the key data release?
The "report card" was released in the first quarter, and the key data released the following signals:

Data: 1GDP: year-on-year growth 18.3%, average growth of 5.0% in two years, stable?

According to preliminary accounting, China's GDP in the first quarter was 2493 1 100 million yuan, up 18.3% year-on-year and 0.6% quarter-on-quarter, up 10.3% compared with the first quarter of 20 19, with an average growth of 5.0% in two years. ?

Double-digit economic growth needs a comprehensive, objective and calm view;

-In the first quarter of last year, China's GDP dropped by 6.8% year-on-year, which objectively set a lower base for this year. ?

This year, the situation of celebrating the New Year on the spot is widespread, which has brought about an increase in working days and brought unparalleled impetus to economic growth. ?

Overall, compared with the fourth quarter of last year, the first quarter still grew by 0.6%, with an average growth of 5.0% in two years. This shows that China's achievements in coordinating epidemic prevention and control and economic and social development have been consolidated and expanded, and the economy has shown a steady and positive trend, which can be said to be a good start. ?

Data 2 Employment: 2.97 million new jobs were created in cities and towns. Total pressure and structural pressure coexist?

In the first quarter, 2.97 million new jobs were created in cities and towns nationwide, and the urban survey unemployment rate averaged 5.4%, down 0.4 percentage points from the same period last year. In March, the national urban survey unemployment rate was 5.3%, down 0.2 percentage points from February and 0.6 percentage points from the same period last year. ?

It can be seen that the current employment situation in China is generally stable. However, in the process of economic recovery, the structural contradiction of employment has also appeared, and the total pressure of employment and structural pressure coexist. ?

Liu Aihua, a spokesperson for the National Bureau of Statistics, said that with the sustained economic recovery, we should continue to strengthen the employment priority policy, increase assistance to groups with employment difficulties, and gradually solve the problems faced in the employment field by ensuring employment services and expanding market-oriented and socialized employment channels. ?

Data 3 Finance and Taxation: The "money bag" is picking up, supporting the real economic policy "no sharp turn"?

In the first two months, the national general public budget revenue was 4180.5 billion yuan, a year-on-year increase of 18.7%. Fiscal revenue recovered and the operation was more stable. ?

Since the beginning of this year, a number of phased tax and fee policies have been appropriately extended to help enterprises get rid of difficulties and develop. The policy is "no sharp turn". At the same time, financial support for the real economy has not decreased. In the first quarter, new loans amounted to 7.67 trillion yuan, an increase of 574 1 billion yuan year-on-year. Among them, loans from enterprises (institutions) mainly based on loans from the real economy increased by 5.35 trillion yuan. ?

Sun Guofeng, director of the Monetary Policy Department of the People's Bank of China, said that the total amount of loans in China in the first quarter was stable and reasonable, maintaining the continuity, stability and sustainability of supporting the real economy. What is even more rare is that China has been implementing a normal monetary policy, and has not engaged in "flood irrigation" type of excessive stimulus. ?

Data 4 Investment: Steady recovery, rapid growth of investment in high-tech industries and social fields?

In the first quarter, the national investment in fixed assets (excluding farmers) was 9,599.4 billion yuan, a year-on-year increase of 25.6%, with an average growth of 2.9% in two years. Investment in high-tech industries increased by 37.3%, with an average increase of 9.9% in two years. Investment in social fields increased by 3 1.7% in the first quarter, with an average increase of 9.6% in two years. ?

In the first quarter, manufacturing investment increased by 29.8%, with an average decline of 2% in two years. In Liu Aihua's view, this means that the current investment level in manufacturing industry is equivalent to about 96% before the epidemic, and the investment in manufacturing industry has not recovered to the pre-epidemic level. With the continuous progress of the overall economic recovery and the continuous improvement of enterprise benefits, the confidence of enterprises will gradually increase, and there is still a lot of room for improvement in manufacturing. ?

Data 5 Foreign Trade: Compared with the growth of more than 20% in the previous three years, there are still many unstable and uncertain factors?

According to the data of the General Administration of Customs, the total import and export value of China's goods trade in the first quarter was 8.47 trillion yuan, up 29.2% year-on-year, up 25.3% and 20.5% respectively over the same period of 20 18 and 20 19. From the ring comparison, China's import and export increased by 25% in March. ?

Zhuang Rui, a professor at university of international business and economics National Open College, said that the stability and sustained recovery of China's foreign trade not only benefited from the stability of global trade, but also contributed to the recovery of global trade. It should be noted that there are still many unstable and uncertain factors in the current foreign trade development, and there are still problems such as high freight rates, insufficient transportation capacity and rising raw material prices. There is still a long way to go to promote the stability and quality improvement of foreign trade. ?

Data 6: Foreign investment: increasing by nearly 40% year-on-year, maintaining the "gravity field" of global investment?

According to data from the Ministry of Commerce, in the first quarter, there were 10263 foreign-invested enterprises in China, up 47.8% year-on-year; The actual use of foreign capital was 302.47 billion yuan, a year-on-year increase of 39.9%. Compared with the same period of 20 19, the growth rates of the two are 6.7% and 24.8% respectively. ?

It can be said that the foreign investment data is as bright as ever. In 2020, global transnational direct investment (FDI) will decrease by nearly half, but China's foreign investment will increase by 4% against the trend, making it the largest foreign investment inflow country in the world. The performance in the first quarter is enough to prove that China's attraction to foreign investment has not weakened, but has continued to increase. As the negative list of foreign investment access has been "slimmed down" again and again, and bilateral and multilateral investment agreements have been continuously promoted, it is expected that China will continue to attract foreign investment this year. ?

Data 7 Income: Year-on-year growth rate 13.7%, and the income growth rate of rural residents is faster?

In the first quarter, the per capita disposable income of the national residents was 9730 yuan, a nominal increase of 13.7% year-on-year, and an average nominal increase of 7.0% in two years; After deducting the price factor, it increased by 13.7% year-on-year, with an average increase of 4.5% in two years. ?

From the source of income, the per capita wage income, operating net income, property net income and transfer net income of the national residents increased by 12.4%, 19.5%, 17.0% and 10.7% respectively, all of which achieved double-digit growth. ?

It is worth mentioning that in the first quarter, the per capita income ratio of urban and rural residents in China was 2.43, down by 0.09 compared with the same period of last year, and the gap continued to narrow. In terms of growth rate, the per capita disposable income of rural residents increased by 16.3% in nominal terms, which was higher than that of urban residents 12.2%. On the whole, China's residents' income has continued the trend of rising quarter by quarter since the same period last year, and maintained a stable recovery growth. ?

Data 8 Consumption: The total retail sales of social consumer goods increased by 33.9% year-on-year, and the consumer market further picked up?

In the first quarter, the national total retail sales of consumer goods 1 0,052,21100 million yuan, up 33.9% year-on-year, with an average growth of 4.2% in two years. Among them, the total retail sales of social consumer goods in March was 3,548.4 billion yuan, up 34.2% year-on-year, 0.4 percentage points faster than that in February. The national online retail sales reached 2,809.3 billion yuan, a year-on-year increase of 29.9%. ?

Zhang Yansheng, chief researcher of China International Economic Exchange Center, said that the continuous improvement of the consumption environment, the increase of residents' income and the release of the policy effect of expanding domestic demand have promoted the rapid recovery of the consumer market in the first quarter, and offline consumption such as accommodation and catering, which was restricted in the previous period, is gradually improving.

In the next step, with the introduction of policies to protect employment and people's livelihood and support small and micro enterprises and individual industrial and commercial households, the vitality of market players will be further restored, the consumption potential of residents will be further released, and the consumer market is expected to continue to recover. ?

Data 9 Price: CPI is flat year-on-year, and it is expected to remain in a moderate range throughout the year?

In the first quarter, the national consumer price (CPI) was flat year-on-year. Among them, March changed from a year-on-year decrease of 0.2% to an increase of 0.4%, with a relatively moderate increase. ?

Yang Zhiyong, a researcher at the National Institute of Economic Strategy, believes that CPI is flat year-on-year, which is a relatively healthy performance of the economy. CPI rose moderately in March, mainly driven by rising gasoline and diesel prices. However, China has a complete industrial system, sufficient production capacity and strong macro-control, and there is no basis for a substantial increase in industrial consumer goods. In the field of food prices, pig production continued to recover, and pork prices continued to decline. Looking at the whole year, the upward pressure of CPI is not great, and it is expected to continue to be stable and remain in a moderate range. ?

Data 10 real estate: the sales of commercial housing increased by 88.5% year-on-year, insisting on "staying in the house and not speculating"?

Investment in real estate development in the first quarter increased by 25.6% year-on-year, with an average growth of 7.6% in two years. The national commercial housing sales area was 360.07 million square meters, up 63.8% year-on-year, with an average growth of 9.9% in two years; The sales of commercial housing was 3,837.8 billion yuan, up 88.5% year-on-year, with an average growth of 19. 1% in two years. ?

In response to the warming of the real estate market in some cities, the Ministry of Housing and Urban-Rural Development recently interviewed government officials in five cities, including Guangzhou, Hefei, Ningbo, Dongguan and Nantong, and demanded that houses be firmly positioned for living, not for speculation, and that real estate should not be used as a short-term means to stimulate the economy. ?

Mo Tianquan, president of the Central Finger Research Institute, said that under the guidance of "housing and not speculation", real estate regulation in various places will be more accurate and effective, so as to achieve the goal of stabilizing land prices, housing prices and expectations.