中国经济平稳运行主基调没有改变

Core Viewpoint - The Chinese economy shows steady growth with a GDP increase of 5.2% year-on-year in the first three quarters, indicating a positive trend in economic performance despite external challenges [1][2][3] Economic Performance - GDP growth for the first three quarters reached 39,679 billion yuan, an increase of 1,368 billion yuan compared to the previous year [1] - Quarterly GDP growth rates were 5.4% in Q1, 5.2% in Q2, and 4.8% in Q3, reflecting a slight deceleration in the third quarter [1] Employment and Prices - The average urban unemployment rate for the first three quarters was 5.2%, consistent with the first half of the year [1] - The Consumer Price Index (CPI) saw a slight decrease of 0.1%, while the core CPI, excluding food and energy, rose by 0.6%, indicating effective policies to boost domestic demand [1] International Trade and Foreign Reserves - China's foreign trade demonstrated resilience, with import and export volumes reaching historical highs, and foreign exchange reserves maintained above 3.3 trillion USD [1][2] - The "new three samples" products experienced double-digit export growth, contributing to the diversification of export markets [2] Industrial Growth - The added value of equipment manufacturing and high-tech manufacturing accounted for 35.9% and 16.7% of the total industrial added value, respectively [2] - Non-fossil energy consumption increased by approximately 1.7 percentage points year-on-year, reflecting progress in green and low-carbon transformation [2] Policy and Future Outlook - The government is focusing on high-quality development to address external uncertainties, with policies aimed at expanding domestic demand and enhancing capital market activity [2][3] - Economic growth is expected to continue in Q4, with GDP growth projected between 5.0% and 5.2%, supported by structural monetary policies and stabilization in the real estate market [3]