China's economy has delivered its first quarterly performance at the start of the 15th Five-Year Plan period. The country's gross domestic product (GDP) reached 33.4193 trillion yuan, growing by 5.0% year-on-year, which is 0.5 percentage points faster than the growth rate in the fourth quarter of the previous year.
Multiple upward trends outline the steady and solid trajectory of China's economic progress. The value-added of industrial enterprises above the designated size increased by 6.1% year-on-year, accelerating by 1.1 percentage points compared to the previous quarter. Total retail sales of consumer goods exceeded 12 trillion yuan, rising by 2.4% year-on-year. Fixed-asset investment growth turned positive, with a year-on-year increase of 1.7% in the first quarter. The total value of goods imports and exports grew by 15.0% year-on-year, marking the highest growth rate in nearly five years.
The strong start to economic operations is particularly commendable, fully demonstrating the resilience of China's economy while injecting valuable certainty into global stability and development.
Moving forward with innovation, new growth drivers are increasingly shouldering the responsibility of economic development during this pivotal year. High-tech manufacturing exhibits higher technological content, with some sub-sectors gradually transitioning from "catching up" and "running alongside" to "running alongside" and "leading." The economy is also showing greener development momentum, as exports of the "new three" products continue to experience rapid growth.
Affected by geopolitical conflicts, international energy prices have risen significantly. China has promptly implemented temporary price controls to ensure sufficient energy supply for production and daily life.
A strong beginning is crucial. Since the start of the year, a number of major engineering projects have continuously advanced their timelines. Regions across the country are seizing opportunities and taking proactive measures, striving to achieve a successful start to the 15th Five-Year Plan with a pragmatic approach. Various government departments are actively implementing a series of policy measures to inject momentum into high-quality economic development.
Comments