On May 18, at an electronics technology company workshop in Dongdian Subdistrict, Sui County, Shangqiu City, Henan Province, workers were producing electronic wiring harness products. (Photo by Xu Zeyuan, People's Visual)
From January to April, the value-added of industrial enterprises above the designated size increased by 5.6% year-on-year; total goods imports and exports grew 14.9%; and the national consumer price index (CPI) rose 0.9%... On May 18, the National Bureau of Statistics released data on the national economic performance. At a press conference held by the State Council Information Office that day, a spokesperson for the National Bureau of Statistics stated that overall, the national economy maintained a stable and progressive development trend from January to April, with solid advancement in high-quality development. However, it was also noted that the external environment remains complex and volatile, domestic supply is still stronger than demand, some enterprises face operational difficulties, and the foundation for stable and positive economic growth requires further consolidation.
Production and supply continued to grow in April against a backdrop of complex and severe international conditions, the ongoing spillover effects of geopolitical conflicts, high volatility in the global energy market, and increased challenges for global economic recovery. "Amid this complex situation, various regions and departments have implemented comprehensive measures, effectively carrying out more proactive fiscal policies and appropriately accommodative monetary policies. The national economy has maintained a trend of innovative and optimized development, demonstrating strong resilience and vitality," the spokesperson said.
Production and supply have sustained growth—since the beginning of the year, supported by various policies, production and supply have continued to increase, effectively meeting diverse needs. From an industrial perspective, the value-added of industrial enterprises above the designated size grew by 5.6% year-on-year from January to April, maintaining relatively rapid growth. In the services sector, the services production index increased by 4.9% year-on-year from January to April, remaining generally stable. Modern services experienced faster growth, with the production indices for information transmission, software and information technology services, and leasing and business services rising by 10.9% and 9.3%, respectively, from January to April, continuing their favorable development momentum.
Employment and prices remained generally stable—employment reflects the utilization of labor in the production of goods and services, while prices reflect market supply and demand conditions. Regarding employment, the national urban surveyed unemployment rate was 5.2% in April, down 0.2 percentage points from the previous month. The surveyed unemployment rate for the labor force aged 30-59 was 4.2%, also declining from the previous month, indicating overall stable employment conditions. On prices, the CPI rose 1.2% year-on-year in April, an increase of 0.2 percentage points from the previous month, maintaining a moderate upward trend. The core CPI, which excludes food and energy, also rose 1.2%, remaining generally stable. "In response to fluctuations in the international energy market, China has actively increased energy supply guarantees, implemented temporary price controls, and boosted investment in people's livelihoods, ensuring overall stability in domestic production and living standards and achieving positive results," the spokesperson added.
Resilience and vitality have been fully demonstrated. Observing economic operations requires focusing on the general trend and direction. Amid complex international conditions, China's high-quality economic development is progressing steadfastly. On one hand, the driving role of innovation continues to show results, with digital and green transformation advancing steadily and new drivers of economic development growing rapidly. High-end manufacturing showed strong growth momentum, with the value-added of high-tech manufacturing enterprises above the designated size increasing by 12.6% year-on-year from January to April, maintaining rapid growth. Within high-end manufacturing, sectors such as aircraft manufacturing and biopharmaceutical product manufacturing saw value-added growth of 25.7% and 12%, respectively. Emerging industries are flourishing, with accelerated penetration of the digital economy and strong growth in sectors like electronic information and communications. The value-added of computer, communication, and other electronic equipment manufacturing increased by 14% from January to April. New drivers in the services sector continued to strengthen, with operating revenue of strategic emerging services enterprises above the designated size growing by 7.1% from January to March.
On the other hand, resilience and vitality have been consistently evident. Amid an unstable international environment and disruptions to global industrial and supply chains, China has actively expanded high-level openness. Leveraging its complete industrial system and continuously improving product and service quality, it has driven relatively fast growth in foreign trade, with total goods imports and exports increasing by 14.9% year-on-year from January to April. In terms of exports, new market competitive advantages are gradually being established, with rapid growth in exports of green and high-tech products. From January to April, China's exports of green and low-carbon products such as electric vehicles and wind turbine generators increased by over 40%, while exports of high-tech products grew by 27.6%. Regarding imports, the appeal of China's vast market to the world is steadily increasing, with the value of goods imports rising by 20% year-on-year from January to April. Imports from Latin America and Africa grew by 25.1% and 11.2%, respectively. The spokesperson noted that these developments fully demonstrate China's strong capacity to withstand external risks and shocks, its continued trend toward innovative and optimized development, and new achievements in high-quality development.
Development potential is continuously strengthening. Upon closer examination of the data, some economic indicators in April showed fluctuations compared to March. How should this be viewed? "The slowdown in some indicators in April represents normal month-to-month fluctuations. Looking at cumulative indicators, macroeconomic indicators, and certain structural indicators, the 'stable' main theme of the Chinese economy has not changed," another spokesperson from the National Bureau of Statistics stated. "After years of development, we have accumulated a more substantial material and technological foundation, a more resilient industrial system, and a broader domestic demand market. Our capacity to withstand pressure and room for maneuver are expanding. These aspects reflect both the stable foundation, numerous advantages, strong resilience, and vast potential of the Chinese economy, as well as the confidence and basis for maintaining stable economic performance in the next stage."
The spokesperson emphasized that the cultivation and expansion of new drivers and advantages have opened up space and accumulated strength for high-quality development. For example, the equipment manufacturing sector has been the most outstanding segment in China's manufacturing development for many consecutive years. In the first four months of this year, equipment manufacturing accounted for 35.7% of the value-added of industrial enterprises above the designated size, contributing over half of the growth in this category and playing a crucial stabilizing role. "The cultivation and expansion of these new drivers are not achieved overnight but through persistent, long-term efforts and gradual accumulation. They are the result of policy guidance, market demand, and technological innovation. These deep-seated changes are reshaping China's development drivers and continuously enhancing the resilience and potential for high-quality development," the spokesperson added.
Furthermore, the combined effects of macroeconomic policies will continue to safeguard economic operations. Policies such as the "dual focuses" and "dual new initiatives" are progressing as scheduled, and central government budget investments, ultra-long-term special treasury bonds, and local government special bonds are also advancing rapidly. "Going forward, it is essential to fully utilize and effectively implement macroeconomic policies, target measures precisely, and strengthen the endogenous drivers of economic development," the spokesperson concluded.
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