When macro policy is in progress
Recovery continues, multiple data confirm economic resilience and vitality
From January to July, the added value of industries above designated size increased by 3.5% year-on-year, and the growth rate was 0.1 percentage points higher than that in the first half of the year;
Infrastructure investment increased by 7.4% year-on-year, and the growth rate accelerated for three consecutive months;
The total import and export of goods increased by 10.4% year-on-year, 1 percentage point faster than the first half of the year;
The absorption of foreign capital increased by 17.3% year-on-year, and the actual use of foreign capital was nearly 800 billion yuan;
As of the end of June, the national registered market entities exceeded 160 million…
A number of data released recently show a clear trajectory of my country’s economic recovery.
Adhere to the stability of the word, and seek progress while maintaining stability, the resumption of work and production, the resumption of business and the market are steadily progressing, the construction of major projects starts early and construction is fast, and the bailout policies for market players are carefully implemented… Facing the increasingly complex and severe international environment and the domestic epidemic The unfavorable situation of frequent occurrences has been distributed, the epidemic prevention and control and economic and social development have been efficiently coordinated in many places and departments, and a package of policies and measures to stabilize the economy has been vigorously implemented. Significant results have been achieved, demonstrating the strong resilience and vitality of my country’s economy.
——Continue to restore the stability and resilience of China’s economic market
“Our orders are hard to be taken away, because our products have patents from core technology to appearance design.” In the modern standard workshop of Zhejiang Hongfeng Precision Technology Co., Ltd. in Yongkang, Zhejiang, known as the “Hardware Capital” , a bustling scene.
“There is a complete industrial chain and supply chain in China and the government’s bailout policy, which is our confidence and confidence to cope with the challenges.” Fang Chunkang, chairman of the company, introduced that as a “specialized, special and new” enterprise in Zhejiang Province, through research on global small household appliances In response to the new market demands, the company continues to develop new high-value products. In the first three years, foreign trade sales have maintained a relatively high annual growth rate. Although this year has been greatly affected by the epidemic, it is expected to increase by 10%.
From January to July, the added value of industrial enterprises above designated size increased by 3.5% year-on-year, and the growth rate was 0.1 percentage points higher than that in the first half of the year; in July, the added value of high-tech manufacturing industries increased by 5.9% year-on-year, 3.2 higher than that of manufacturing industries above designated size. Continuing to lead the industrial production by 100 percent. In the face of adverse factors such as the epidemic, flood conditions, and high temperature, my country’s industrial production continued to recover. The areas affected by the epidemic in the early stage rebounded rapidly, and the new industrial kinetic energy continued to play a leading role.
Not only industrial production, from January to July, the service industry production index fell by 0.3% year-on-year, 0.1 percentage points lower than that from January to June; the total import and export of goods increased by 10.4% year-on-year, 1 percentage point faster than that from January to June… …withstand the pressure and rise to the challenge. A number of data confirm the resilience of the Chinese economy.
The huge ship arrived at the port, and the loading and unloading was busy. One port terminal is operating efficiently. Ningbo Zhoushan Port Production Express shows that in July, Ningbo Zhoushan Port is expected to complete container throughput of more than 3.2 million TEUs, a year-on-year increase of 25%, and exceeded 3 million TEUs for four consecutive months. According to Hangzhou Customs statistics, from January to July, the import and export of Zhejiang Province was 2.71 trillion yuan, an increase of 19.5% over the same period last year, of which exports were 2 trillion yuan, an increase of 22.6%.
Since the beginning of this year, foreign trade enterprises have resumed work and production in an orderly manner, especially the rapid recovery of imports and exports in the Yangtze River Delta and other regions, driving the overall growth rate of foreign trade across the country to pick up significantly.
The Wall Street Journal reported that Chinese exports have shown a strong recovery trend in recent months and remained surprisingly resilient through July, again breaking global expectations for weakening demand for Chinese-made goods.
Cheng Shi, chief economist of ICBC International, said that a series of internal and external force majeure caused unexpected disruptions to China’s economic operation. However, from the perspective of horizontal and vertical comparisons, China’s economy has remained stable, reflecting strong resilience.
“This kind of resilience is reflected in the data: first, the economy has slowed down but not stalled; second, the momentum of structural optimization and the improvement of the quality of economic growth has not been interrupted; third, the industrial chain and supply chain have shown strong resistance to pressure; fourth It is the momentum of the rapid economic rebound that is accumulating; fifth, some structural bright spots are worthy of attention.” Cheng Shi said.
——The vitality shows that the confidence of enterprises is expected to recover and improve
Infrastructure investment has accelerated, the consumption of automobiles and other commodities has picked up, logistics and people flow have become more smooth, enterprises have “moved up”, and the economy has come alive… Without fear of difficulties and obstacles, the surging vitality of China’s economy continues to show.
Recently, the second phase of China National Nuclear Corporation’s Sanmen Nuclear Power Project was officially started in Sanmen, Taizhou. This project is a major national energy project. The second phase of the project will build two million-kilowatt nuclear power units. The rated capacity of a single unit is 1.251 million kilowatts. The designed operating life is 60 years. When completed and put into operation, the installed capacity of Sanmen nuclear power plant will reach 5 million kilowatts, and the annual power generation of the four units will reach 40 billion kWh, which is equivalent to reducing carbon dioxide emissions by 30 million tons per year.
Zhejiang held the commencement ceremony of major projects and the second phase of Sanmen nuclear power plant, 402 projects were started in a centralized manner, with a total investment of 762 billion yuan; Anhui held the mobilization meeting for the third batch of major projects in 2022, and 942 major projects were launched in a centralized manner, with a total investment Up to 667.52 billion yuan… On the land of China, there is a boom in the construction of major projects.
Since the beginning of this year, my country has accelerated the promotion of infrastructure investment in water conservancy and transportation, raised 300 billion yuan through the issuance of financial bonds to support the construction of major projects, and deployed to further revitalize existing assets to expand social investment channels…
Steady investment has shown results. From January to July, infrastructure investment increased by 7.4% year-on-year, and the growth rate was 0.3, 0.7 and 0.9 percentage points higher than that of the first half of the year, January to May, and January to April, respectively. The growth rate accelerated for three consecutive months.
The pace of transformation and upgrading has been accelerated. From January to July, the added value of high-tech manufacturing increased by 9% year-on-year, and investment in high-tech industries increased by 20.2%; the production index of information transmission, software and information technology services increased by 12.1% year-on-year; Production increased by 112.7% and 33.9% year-on-year, respectively.
“In the face of huge downward pressure, the overall performance of my country’s economy is basically in line with expectations, and the economy as a whole shows a trend of stabilization and recovery. In the second half of the year, economic stabilization policies and measures will continue to play a role, and infrastructure investment is expected to increase growth. In addition, the economy remains relatively stable. With strong resilience and policy space, China’s economy is expected to continue to warm up.” said Liang Guoyong, a senior economist at the United Nations Conference on Trade and Development.
The vitality of China’s economy is reflected in the intensive construction of large-scale projects, the accelerated pace of industrial upgrading and green transformation, and the vigorous development of micro entities.
In Fengcheng Circular Economy Park, Yichun City, Jiangxi Province, the construction site of the new project of Jiangxi Maidehao New Materials Co., Ltd. was very busy, with concrete mixer trucks shuttled, and construction personnel working intensively. Since the beginning of this year, due to the increase in labor, construction materials and transportation costs, seeing that the high-performance ultra-thin electronic copper foil project of the main production line is almost stranded due to funding problems, general manager Shi Chen was once anxious like an ant on a hot pot.
The tax support policy has brought “timely rain” to enterprises. The remaining value-added tax refund is 33.1629 million yuan, the stamp duty and land use tax levied by half for small and micro enterprises are 77,300 yuan, and the deferred payment policy for manufacturing small and medium-sized enterprises is 19,000 yuan. Shi Chen said: “With policy support, the infrastructure of the first phase of our project has been basically completed, and equipment installation and commissioning are in progress. After production, the annual sales revenue will reach 300 million yuan.”
Increase the scope of benefits and include more industries in the VAT credit and refund. Speed up the implementation progress. Small and micro enterprises will be refunded all at once before the end of June, medium-sized enterprises and large enterprises will receive tax refunds ahead of schedule, and fiscal policies will bring “timely rain” to more market players; the People’s Bank of China reduces the reserve ratio by 0.25 percentage points, and inclusive loans for small and micro enterprises Continue to maintain “volume increase, surface expansion, price reduction”, and monetary policy will increase credit support for the real economy.
According to data from the State Administration for Market Regulation, as of the end of June, there were 161 million registered market entities nationwide, an increase of 4.4% from the end of 2021. From January to June, 2.297 million enterprises were newly established in the “Four New Economy” (new technologies, new industries, new formats, and new models), accounting for 54.2% of the total number of newly established enterprises.
The confidence of foreign enterprises is also increasing. Data from the Ministry of Commerce shows that in the first seven months, my country’s foreign investment increased by 17.3% year-on-year, and the actual use of foreign capital was nearly 800 billion yuan.
Cargill, a multinational agricultural product giant, recently announced that it will invest nearly US$30 million to establish its first innovative production base for flavored syrups in Pinghu City, Zhejiang Province. “China is one of the most attractive food ingredient markets in the future. Our determination to develop in China has not changed,” said Liu Jun, President of Cargill China. (Reporter Sun Shaohua, Ban Juanjuan, Qu Lingyan)