CCTV News: Up to now, all 31 provinces, autonomous regions and municipalities in my country have released the economic operation data of their respective provinces in the first quarter. Judging from the data, the economic development of various regions has shown a positive trend of recovery, and the economic operation has achieved a good start. So, what are the highlights of the economic data in the first quarter? Which provinces have performed well in economic data? How to interpret the economic “transcript” of various regions in the first quarter? In order to ensure sustained and stable economic growth in the future, where do we need to make efforts?
What are the highlights of the economic data in the first quarter?
From the perspective of GDP growth, 23 of the 31 provinces outperformed the national average GDP growth rate of 4.5% in the first quarter, and the top three GDP growth rates were Jilin (8.2%), Tibet (8.2%), and Ningxia (7.5%); the GDP growth rate of several provinces in the first quarter has exceeded their annual GDP growth targets set at the beginning of the year. In terms of the total regional GDP, 12 provinces have exceeded 1 trillion, and Guangdong has exceeded 3 trillion.
From the perspective of driving force for economic growth, in the first quarter, the per capita consumption expenditure of residents in 9 provinces including Shanghai, Beijing, Zhejiang, Tianjin, Guangdong, Jiangsu, Fujian, Chongqing, and Hunan exceeded that of the whole country.
In terms of investment, investment in infrastructure such as water conservancy management, road transportation, and public facilities management increased by more than 20% year-on-year.
Not only does it reflect the investment direction of strong advantages, making up for weaknesses, and benefiting people’s livelihood, but maintaining a relatively high growth rate of investment has also become an important driving force for economic growth in various regions in the first quarter.
Why are the economic data of the three northeastern provinces so impressive?
In the economic “transcript” of various regions in the first quarter, which provinces’ economic data performed well? Through combing, it can be found that among several major regional sectors, the three northeastern provinces, whose economic growth rate ranked at the bottom in the country before, performed well in the first quarter of this year’s economic data. In the first quarter, Jilin increased by 8.2%, Heilongjiang increased by 5.1%, and Liaoning increased by 4.7%, all higher than the national average. What is the reason behind this? Learn more about it.
From a specific analysis, Liaoning’s GDP growth rate in the first quarter was 4.7%, which was a good performance. The added value of industries above designated size increased by 7.5%, higher than the national average. In the first quarter, fixed asset investment in Liaoning increased by 11.9% year-on-year, reversing the downward trend of investment in one fell swoop. In terms of sectors, infrastructure investment increased by 18.6 percent, and manufacturing investment increased by 8.8 percent.
An important reason for Jilin’s high growth rate in the first quarter was the low base due to the impact of the epidemic in the same period last year. In the first quarter of this year, the added value of industrial enterprises above designated size in Jilin increased by 7.6% year-on-year, and the growth rate was 13.7 percentage points higher than that in January-February. Quick warm up.
The potential of the domestic consumer market has driven the growth of Heilongjiang’s service industry to a considerable extent. In the first quarter, the number of tourists received by Harbin City increased by 124.7% year-on-year, and the total tourism revenue increased by 106.9% year-on-year. At the same time, due to the rapid growth of Sino-Russian trade, in the first quarter of this year, the total import and export value of goods trade in Heilongjiang Province was 71.98 billion yuan, an increase of 29.6% over the same period last year, and the growth rate of import and export was 24.8 percentage points higher than that of the same period of the country.
The total foreign trade volume of the 4 provinces of Guangdong, Jiangsu, Zhejiang and Shanghai exceeded one trillion yuan
As one of the troikas driving economic growth, the role of foreign trade cannot be underestimated. In the first quarter, the total foreign trade volume of four provinces including Guangdong, Jiangsu, Zhejiang, and Shanghai exceeded one trillion yuan. Among them, Guangdong led the country with an import and export scale of 1.84 trillion yuan, and Jiangsu and Zhejiang were about 1.2 trillion yuan and 1.13 trillion yuan respectively. The total volume of imports and exports ranks second and third.
In the first quarter, 24 of the 31 provinces, autonomous regions and municipalities recorded positive growth in total import and export of goods, and 17 of them outperformed the national average growth rate. Provinces such as Guizhou, Guangxi, Hunan, Xinjiang, Jiangxi, and Hainan experienced rapid growth. In terms of regions, what are the specific performances? Let’s find out together.
The growth rate of the central and western regions leads the foreign trade and presents a new pattern
In terms of sub-regions, the performance of the central and western regions is eye-catching. In the first quarter, imports and exports were 1.84 trillion yuan, a year-on-year increase of 12.6%, which was 7.8 percentage points higher than that of the country as a whole. The proportion of the country’s total import and export value increased by 18.6%, and the contribution rate to the national import and export growth reached 45.8%. Among them, exports of automobiles, auto parts, lamps, etc. performed well, increasing by 132.5%, 47.2%, and 49.8% respectively. In the first quarter, Sichuan continued to maintain its position as the largest province in foreign trade in the central and western regions, with a total import and export volume of 234.2 billion yuan. Jiangxi “comes up from behind”. In the first quarter, the total import and export volume approached the 200 billion yuan mark, with a year-on-year growth rate of 44.6%. Driven by strategies such as high-level opening to the outside world and coordinated regional development, my country’s foreign trade is gradually showing a new pattern.
What do you think of the economic “report cards” of various regions in the first quarter?
Through the short video, we also learned about the economic operating data of various regions in the first quarter from various aspects. So, what are the characteristics of the economic data of various regions in the first quarter? How to interpret the economic “transcript” of various regions? Let’s listen to the interpretation of Sheng Chaoxun, Director of the Strategic Policy Office of the China Academy of Macroeconomic Research.
How to continue to exert strength in steady growth in various places after a good start?
Judging from the work reports of local governments, steady growth, expansion of domestic demand, and strong confidence are the key words for local development this year. At the beginning of this year, 31 provinces, autonomous regions and municipalities announced their respective economic growth targets for 2023. Values range from 4% to 9.5%, with more than half of the provinces setting targets above 5.5%. The short film also mentioned that the GDP growth rate of several provinces in the first quarter has exceeded the annual GDP growth target set by each province at the beginning of the year. In the first quarter, the economic development of various regions showed a positive trend of recovery, and the economic operation achieved a good start. So in order to ensure sustained and stable economic growth in the future, where should efforts be made? Continue to listen to the interpretation of experts.
Source of this article: CCTV Author: Editor in charge: Gu Ming