智库·数据丨五个“没有改变”有力支撑经济平稳运行

Core Viewpoint - China's economy has shown resilience and stable growth in the first five months of the year despite external challenges, with a strong foundation and positive development trends remaining intact [1][4]. Economic Performance - In the first five months, the industrial added value above designated size increased by 6.3% year-on-year, and the service production index rose by 5.9% [4]. - The expected business activity index for enterprises increased by 0.4 percentage points in May, indicating sustained market confidence [4]. Demand Side Performance - The total retail sales of consumer goods grew by 5.0% year-on-year, with online retail sales leading the market at an 8.5% growth rate [5]. - Fixed asset investment increased by 3.7% year-on-year, providing solid support for stable economic operation [5]. Innovation and Technology - High-tech manufacturing and digital product manufacturing achieved growth rates of 9.5% and 9.9%, respectively, significantly outpacing overall industrial growth [5]. - The production of industrial robots surged by 32%, and the value added of smart vehicle equipment manufacturing grew by 26.8% [5]. Green Transition - The production of new energy vehicles increased by 40.8%, and solar cell production rose by 18.3% in the first five months [5]. - Clean energy generation experienced double-digit growth, reflecting a positive trend in the green industry [5]. Foreign Trade and Investment - Private enterprises' imports and exports grew by 7%, with export growth reaching 8% [6]. - Exports of electromechanical products increased by 9.3%, and integrated circuit exports rose by 18.9% [6]. Employment and Social Welfare - The urban surveyed unemployment rate dropped to 5.0% in May, with social security and education expenditures growing faster than overall fiscal spending [6]. - These improvements in social welfare are expected to enhance domestic demand and support innovation-driven development [6]. Overall Economic Characteristics - China's economy is characterized by stable growth, innovation and green transformation, upgraded openness, and improved livelihoods, all contributing to high-quality development [6].