The industrial added value increased by 68 year-on

2022-08-22
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In May, the industrial added value increased by 6.8% year-on-year, and the accelerated growth of power generation showed that the economic operation was stable and good

on June 14, the National Bureau of statistics released the operation of the national economy in May 2018. The data showed that the national economy continued to maintain an overall stable, stable and positive development trend in May

in terms of production, in May, the added value of industries above designated size increased by 6.8% year-on-year, 0.3 percentage points faster than the same month last year; In terms of demand, the total retail sales of social consumer goods in May was 3.04 trillion yuan, an increase of 8.5% year-on-year; In terms of investment, from January to may 2018, the national fixed asset investment (excluding farmers) was 21.6 trillion yuan, an increase of 6.1% year-on-year

although the growth rate of the added value of China's industries above Designated Size in May decreased slightly compared with the data of last month, its growth rate is still higher than that of the same period last year, and higher than the average growth rate of 6.6% in the whole year last year. In terms of consumption data, the National Bureau of Statistics said that the reason for the decline in consumption growth in May was mainly related to seasonal factors

the growth rate of power generation reached a high level of 9.8%

from the data of national economic operation in May, a prominent feature is that the industrial performance continues the good momentum of last month. In this regard, at the press conference held by the state information office on the morning of the 14th, maoshengyong, spokesman of the National Bureau of statistics, made it clear that a major feature of the current economic operation is the stable growth of industry. Judging from the basic situation of economic operation in these years, the stability of economic operation is increasing, and the economic operation indicators in May continued this trend. In May, the added value of industries above designated size increased by 6.8%, 0.3 percentage points faster than the same month last year, and increased by 6.9% from January to may, the same as that from January to April. Therefore, production is growing steadily

many of the economic indicators released this time can fully prove the current stable and positive trend of industrial development. For example, taking the power generation, an important indicator to observe the economic operation, as an example, in May, the national power generation was 544.33 billion kwh, an increase of 9.8% year-on-year, and the growth rate was 2.9 percentage points faster than that of the previous month; The average daily power generation was 17.56 billion kwh, an increase of 530 million kwh over the previous month. From January to may, the power generation increased by 8.5% year-on-year, 0.8 percentage points faster than that from January to April

why can the year-on-year growth rate of power generation in may reach a high level of nearly 10%? In this regard, Yang Chang, a senior Macro Analyst at Zhongtai securities, told the daily economy that the power generation has rebounded significantly, which fully confirms that the current industrial performance is not weak

Zhou Jingtong, a researcher at the Institute of international finance of Bank of China, said to the analysis that from the internal relationship between power generation and industry, the performance of heavy industry is more closely related to the level of power generation. The obvious growth of power generation shows that the current growth trend of China's heavy industry is relatively prominent, and the growth of power generation driven by heavy industry is mainly due to the good performance of heavy industry in recent years

it is noted that the economic data in May can indeed reflect the obvious upward trend in the development of heavy industry. For example, in May, China produced 97.07 million tons of steel, with a year-on-year increase of 10.8% and began to develop products. This year-on-year growth rate set a record for the year

manufacturing investment performed well

as for the performance of fixed asset investment from January to may, the data showed that from January to May this year, the national fixed asset investment (excluding farmers) was 21.6 trillion yuan, an increase of 6.1% year-on-year, and the growth rate was 0.9 percentage points lower than that from January to April. From the perspective of month on month speed, fixed asset investment (excluding farmers) increased by 0.47% in May. Among them, private fixed asset investment was 13.44 trillion yuan, an increase of 8.1% year-on-year

as for the growth rate of fixed investment from January to may, compared with that from January to April, maoshengyong explained at the press conference that fixed asset investment is usually divided into three areas, namely infrastructure investment, manufacturing investment and real estate investment. Among them, infrastructure investment increased by 9.4% from January to may, and the growth rate fell by 3 percentage points. From the perspective of the three components, the decline in fixed asset investment is mainly caused by infrastructure investment

Zhou Jingtong told the daily economy that under the premise of reducing leverage and preventing risks since last year, the overall financing environment has been tightened to a certain extent, which is particularly evident in the field of infrastructure investment. For example, local governments have effectively constrained infrastructure financing through shadow banking, bond market and other means, which has also slowed the growth rate of infrastructure investment and overall fixed investment to a certain extent

Mao Shengyong said at the press conference: from the perspective of the demand for fixed asset investment, the fixed asset investment has maintained a high growth rate for many years, with the growth rate of about 20%. After years of rapid development, China's infrastructure construction has made great progress, and the demand for substantial increase in infrastructure has weakened compared with the past. From the perspective of projects and funds, it is necessary to prevent and resolve major risks in the three major battles, including standardizing and cleaning up non-conforming and illegal projects, and requiring local financing behavior and debt raising behavior to be more standardized. Therefore, there are some impacts on the space of funds and the illegal suspension and postponement of construction of some projects due to non-compliance

although the growth rate of infrastructure investment has fallen, the performance of manufacturing investment has remained generally good for some time. From January to may, manufacturing investment increased by 5.2%, 0.4 percentage points faster than that from January to April, and there has been a good momentum of recovery for two consecutive months

the growth rate of consumption fell due to seasonal effects

in addition to industrial production and fixed asset investment, the performance of consumption related data in May is also another focus of attention from all walks of life. From the perspective of data, the total retail sales of social consumer goods increased by 8.5% in May, down 0.9 percentage points from April, and this growth rate has also become the low point in the past year

for this phenomenon, maolangsheng company has been seeking to adopt alternative resources to produce excellent synthetic rubber products. Butyl rubber Sheng Yong explained that there are two main reasons at the press conference, which has caused considerable repercussions inside and outside the industry:

first, the mobile effect of holidays. The three-day Dragon Boat Festival holiday last year was in May, and this year's Dragon Boat Festival holiday was in June. After calculation, The three-day holiday consumption has pulled the total retail sales of social consumer goods down by more than 1 percentage point, which is the impact of the wrong month effect of the holiday

the second reason is the effect of delayed consumption. Recently, the State Council announced that tariffs on cars and some daily necessities will be reduced from July 1, and many consumers will reduce their current consumption. These effects together caused the growth rate of total retail sales of social consumer goods to decline in May

it was also found that from the sales performance of various sub items of consumer goods in the market in May, it was obvious that their sales were indeed affected by the delayed consumption effect. Take the automobile industry as an example. According to the data previously released by the China Automobile Circulation Association, the inventory warning index of automobile dealers in May this year was 53.7%, above the warning line of 50%

with regard to this phenomenon, Lang Xuehong, Deputy Secretary General of the China Automobile Circulation Association, said that with the introduction of the tariff adjustment policy for imported cars, consumers did not reduce or even slightly increase their visits to stores, but the transaction volume decreased significantly. There is a strong wait-and-see atmosphere among consumers, who are waiting for the price of imported cars to be lowered, and some domestic models that believe that the price is close to that of imported cars may also be adjusted. This important factor has led to the current performance of car sales lower than expected

for the future trend of the domestic consumer market, Lu Zhengwei, chief economist of Industrial Bank, believes that in the short term, due to the comprehensive effect of the promotion activities launched by major domestic e-commerce companies in June and the consumption during the Dragon Boat Festival holiday, the consumption growth rate in June is expected to rebound; In the long run, guided by the policy of continuously expanding domestic demand, China has continued to introduce measures to reduce tariffs on consumer goods, and there is still potential for China's consumption growth in the second half of the year

on the 14th day, the Ministry of finance also released the fiscal revenue and expenditure in May 2018. Data show that in May, the national general public budget revenue was 1763.1 billion yuan, an increase of 9.7% year-on-year; From January to may, the national general public budget revenue was 8665 billion yuan, an increase of 12.2% year-on-year; The budget revenue of national government funds was 2572.2 billion yuan, an increase of 39% year-on-year

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