人民财评：顶住压力稳定增长，中国经济展现韧性

Economic Overview - The national economy has shown resilience despite complex international conditions, with key economic indicators remaining within a reasonable range, driven by innovation, domestic demand, and openness [1] - The economic growth trajectory is stabilizing, with a focus on high-quality development [1] Industrial Growth - In April, industrial production continued to grow rapidly, with equipment manufacturing and high-tech manufacturing outpacing overall industrial growth [2] - Equipment manufacturing contributed 55.9% to the growth of industrial enterprises above designated size, with significant increases in aerospace and integrated circuit manufacturing, both exceeding 20% growth [2] - High-tech manufacturing products, such as new energy vehicles and industrial robots, saw substantial production increases, with new energy vehicle production up 38.9% and industrial robot production up 51.5% [2] - Investment in high-tech industries has been growing rapidly, significantly outpacing overall fixed asset investment growth, with information service industry investment growth reaching 40.6% [2] Policy Measures - The implementation of policies aimed at boosting market demand has led to significant expansion in consumption and production, with equipment investment growing by 18.2% in the first four months [3] - Active fiscal policies, including interest rate cuts and the establishment of new policy financial tools, are supporting technological innovation and consumption expansion [3] - The new Private Economy Promotion Law, effective May 20, provides legal support for the development of the private economy, enhancing confidence among business entities [3] Domestic Demand - The domestic market is showing signs of recovery, with retail sales growing by 4.7% and online retail sales increasing by 7.7% in the first four months [4] - The consumption of basic and upgraded goods is strong, with significant growth in categories such as communication equipment and sports entertainment [4] - Service retail sales also increased by 5.1%, driven by tourism, transportation, and business services, indicating a robust recovery in consumer spending [4] Economic Outlook - Despite external challenges, the fundamentals of the Chinese economy remain stable, with strong resilience and vitality [4] - The ongoing macroeconomic policies and enhanced innovation capabilities are expected to support sustained economic growth and contribute to global economic recovery [4]