经济新方位丨透过“三季报”看中国经济稳步前行

Core Viewpoint - The national economy shows a steady growth trend with a GDP growth of 5.2% year-on-year in the first three quarters of 2023, indicating resilience and progress despite external challenges [1][3][6]. Economic Performance - GDP growth reached 5.2% year-on-year, with an increase of 39679 billion yuan, which is 1368 billion yuan more than the previous year [3]. - The urban unemployment rate remained stable at 5.2%, while the Consumer Price Index (CPI) slightly decreased by 0.1% year-on-year, with core CPI rising by 0.6% [3]. - External trade showed strong resilience, with import and export volumes reaching historical highs, and foreign exchange reserves maintained above 3.3 trillion USD [3][11]. High-Quality Development - The share of high-tech manufacturing and equipment manufacturing in industrial value added reached 16.7% and 35.9%, respectively [5]. - Non-fossil energy consumption increased by approximately 1.7 percentage points year-on-year, indicating progress in green and low-carbon transformation [5]. - The per capita disposable income of residents grew in line with economic growth, and the income gap between urban and rural residents continued to narrow [5]. Economic Resilience - Despite external pressures and domestic demand challenges, the economy grew by 5.2%, ranking among the top in major economies [6][10]. - The economic structure is undergoing adjustments, and the overall development trend remains stable and progressive [6][12]. Policy Impact - Macro policies have been effectively implemented to stabilize the economy and support long-term growth [7]. - Consumer spending contributed 53.5% to economic growth, with significant increases in retail sales of household appliances and vehicles [7][8]. - Investment in equipment and tools rose by 14.0%, significantly contributing to overall investment growth [8]. Future Outlook - The third quarter GDP growth of 4.8% remains higher than most major economies, with a total economic output of 35.5 trillion yuan [10][11]. - The manufacturing sector shows signs of recovery, with the Purchasing Managers' Index (PMI) indicating improved supplier delivery times [9][11]. - Positive factors are accumulating, with increased domestic travel and consumer activity during holidays, reflecting economic vitality [11].