锐财经｜中国经济顶住压力稳中有进

Core Insights - China's economy has shown resilience and progress in the first three quarters, with effective investment and strong social welfare measures laying a solid foundation for achieving annual economic and social development goals [1][6]. Economic Performance - The GDP grew by 5.2% year-on-year, maintaining a leading position among major global economies [2] - Retail sales of consumer goods increased by 4.5%, accelerating by 1.2 percentage points compared to the same period last year [2] - Industrial output rose by 6.2%, marking the highest growth for the same period since 2022 [2] Sectoral Growth - The equipment manufacturing and high-tech manufacturing sectors saw value-added growth of 9.7% and 9.6%, respectively, with their shares in industrial output increasing by 2.1 and 0.8 percentage points year-on-year [2] - The integrated circuit and smart device manufacturing sectors experienced significant growth, with increases of 22.4% and 12.2% in value-added [2] Quality and Efficiency - Improvements in product prices and corporate profits were noted, with industrial enterprise profits rising by 3.2% year-on-year, and a notable 21.6% increase in September alone [3][4] Resilience in Exports - Despite external challenges, exports maintained a growth rate of 7.1%, with high-tech and electromechanical products growing by 11.9% and 9.6%, respectively [2] - Exports to countries involved in the Belt and Road Initiative increased by 12.4% [2] Consumer and Industrial Trends - The service retail sector grew by 5.2%, driven by popular events such as sports and concerts [3] - Production of high-end and green technologies is on the rise, with civilian drones and industrial robots increasing by 43.2% and 29.8%, respectively [3] Social Welfare and Food Security - The government has effectively ensured food security and energy supply, with measures in place to stabilize grain markets and enhance agricultural production conditions [4][5] - The national coal stockpile reached 220 million tons, sufficient for over 35 days, ensuring energy supply during the winter [4][5] Investment Expansion - The government is actively promoting effective investment, with 500 billion yuan allocated to support local government financial capacity and investment projects [6] - Over 2,300 projects have been supported, with total investments around 7 trillion yuan, focusing on digital economy, AI, and infrastructure [6] Future Outlook - International economic organizations have raised their forecasts for China's economic growth, indicating confidence in achieving annual development goals [6][7]