A large part of the economic downside pressure fell back more than expected

The National Development and Reform Commission held a press conference today to interpret the macroeconomic situation and policies. Li Pumin, a spokesperson for the National Development and Reform Commission, said that the economic downturn is still relatively large, and some indicators have slowed down more than expected. , a lot of spears...
The National Development and Reform Commission held a press conference today to interpret the macroeconomic situation and policies. Li Pumin, spokesman of the National Development and Reform Commission, said that the economic downturn is still relatively large, and some indicators have slowed down more than expected. Many contradictions and difficulties are intertwined and superimposed on each other.

Li Pumin said that since the beginning of this year, in the face of the complicated international situation and the downward pressure on the domestic economy, the Party Central Committee and the State Council have adhered to the general tone of steady progress and actively lead the new normal of economic development, focusing on improving quality and efficiency. The mode is placed in a more prominent position, focusing on deepening reform and opening up, focusing on stimulating market vitality, focusing on strengthening people's livelihood security, and achieving a smooth start for the national economy.

On the one hand, the main economic indicators are stable in a reasonable range, and the overall economic fundamentals of China's economic development have not changed. First, the growth rate is stable. GDP in the first quarter of this year increased by 7% year-on-year, in line with the expected growth target for the full year. Second, prices are stable. Consumer prices rose by 1.2% year-on-year, showing a moderate upward trend. Third, agriculture is stable. In most areas, the situation is good, the production of grain and oil, fruit and vegetables in summer is good, and the seedlings in the main producing areas are normal. Fourth, consumption is stable. The total retail sales of consumer goods actually increased by 10.8%, which was basically the same as that of the same period last year. Fifth, employment is stable. In the first quarter, more than 3.2 million new jobs were created in urban areas, nearly one-third of the annual target tasks were completed, and the unemployment rate was about 5.1%. Sixth, income is stable. The per capita disposable income of the national residents increased by 8.1%, the income of urban residents actually increased by 7%, and the income of rural residents actually increased by 8.9%.

Li Pumin pointed out that the structural optimization highlights are numerous, and the new impetus for economic development is accelerating. First, the engine of entrepreneurial innovation is enhanced. The reforms in administrative examination and approval, project approval, and commercial systems have continued to deepen, the entrepreneurial environment has continued to improve, and market entities have continued to increase substantially. In the first quarter, there were 844,000 new registered enterprises, an increase of 38.4% over the same period of last year; the newly added registered capital was 4.8 trillion yuan, an increase of 90.6%. Entrepreneurial entities are more diverse, and the atmosphere of mass entrepreneurship and innovation is becoming more and more intense.

Second, the capital market continues to be active. Since the beginning of the year, both the stock market and the bond market have strengthened, and futures, funds, venture capital and private placement have flourished. For example, the scale of equity financing in the first quarter reached 241 billion yuan, a year-on-year increase of 54.7%. The amount involved in mergers and acquisitions of listed companies was 3.4 times that of the same period last year. It not only expands the financing channels of enterprises, but also helps to reduce financing costs and alleviate the financial constraints of the real economy.

Third, the transformation and upgrading momentum is good. For example, the adjustment of industrial structure in the eastern and part of the central region started early, the transformation and upgrading was fast, and the economic development was stable, which played a stable overall role. For example, the service industry continued to develop faster than industry. In the first quarter, the service industry grew by 7.9% year-on-year, with the added value accounting for 51.6%, an increase of 1.8 percentage points over the same period last year. At the same time, the emerging service industry has a good momentum of development, and the national express delivery business has increased by 46.8% year-on-year. For example, the added value of high-tech manufacturing industry increased by 11.4% year-on-year, which is obviously faster than the growth rate of the overall industrial level; the growth of information software, genetic testing, high-end equipment manufacturing, new energy and other industries has become a new birth of some local economic development. power.

Fourth, the new growth pole and growth belt accelerated growth. The “Belt and Road”, “Beijing-Tianjin-Hebei” and “Yangtze Economic Belt” have shifted from top-level design to special planning and implementation, and a number of transportation, eco-environmental, industrial and major cooperation projects have been launched. In the first quarter, China's domestic investors realized a total of foreign direct investment of 27.32 billion US dollars, an increase of 20.4% over the same period of last year. The actual utilization of foreign capital was 34.88 billion US dollars, an increase of 11.3%. The pilot project of new urbanization and the comprehensive reform of small and medium-sized cities have been steadily advanced.

At the same time, Li Pumin also pointed out that it should be clear from the analysis of the economic situation in the first quarter that the downward pressure on the economy is still relatively large, and the growth rate of some indicators has fallen more than expected. Many contradictions and difficulties are intertwined and superimposed. For example, industrial production has declined significantly, investment growth has fallen more, foreign trade imports and exports have declined negatively, fiscal revenues and corporate profits have fallen, and the problems of enterprises, especially small and micro enterprises, are difficult to finance. These all restrict the steady and healthy development of the economy.

Referring to the steady growth of the next National Development and Reform Commission, Li Pumin said that the National Development and Reform Commission will conscientiously implement the decision-making arrangements of the Party Central Committee and the State Council, and closely focus on the "four comprehensive" strategic layout, especially in four areas: First, the measures to release the demand potential, the implementation of 7 major investment engineering packages and six major areas of consumer engineering, play a key role in investment and the basic role of consumption. The second is to speed up the introduction of a number of new reform measures to activate the market and release vitality, to set up a platform for mass entrepreneurship and innovation, to activate the enthusiasm and creativity of market players, and to effectively transform the new dividends into new development drivers. The third is to solidly promote the "three major strategies", strengthen innovation drive, accelerate the cultivation of new products, new models, new formats, new industries, and strive to create new growth points, growth poles and growth belts. The fourth is to give full play to the role of social policies, continue to increase investment, improve policies, and effectively protect and improve people's livelihood. (Finish)

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