【宏观经济】一周要闻回顾(2026年3月25日-3月31日)

Core Insights - China's e-commerce sector showed stable growth in January and February 2026, with digital consumption improving and industrial e-commerce driving digital transformation [3] - The "Silk Road E-commerce" initiative enhanced global brand effects and achieved a strong start for high-quality development [3] E-commerce Development - Digital consumption remained active, with national online retail sales of goods and services increasing by 9.2% year-on-year in January and February [5] - Notable growth in smart products was observed, with smart glasses and window-cleaning robots seeing increases of 183.5% and 130.8% respectively [5] - The tourism and catering sectors experienced significant online retail growth, with increases of 36.1% and 27.3% respectively [5] Industrial E-commerce - Industrial e-commerce facilitated enterprise connections and deepened digital empowerment for industrial transformation [5] - Online retail of agricultural products grew by 17.6%, while industrial e-commerce transactions for metals and industrial goods increased by 63.8% and 8.8% respectively [5] - The logistics and AI sectors benefited from industrial e-commerce, with daily express delivery volumes exceeding 590 million packages in January [5] Silk Road E-commerce - The "Silk Road E-commerce" initiative linked domestic and international markets, showcasing products from Central Asia and ASEAN countries [6] - Key e-commerce import platforms reported a 7.6% increase in global product sales, with Icelandic salmon, Thai durian, and Brazilian beef seeing growth rates of 510.9%, 443.6%, and 156% respectively [6] Power Market Transactions - In January and February 2026, the total electricity market transaction volume reached 11,925 billion kilowatt-hours, marking a year-on-year increase of 25.5% [8] - Intra-provincial transactions accounted for 9,543 billion kilowatt-hours, up 29.2%, while inter-provincial transactions reached 2,382 billion kilowatt-hours, increasing by 12.7% [8] Industrial Profit Growth - Profits of large-scale industrial enterprises totaled 10,245.6 billion yuan in January and February, reflecting a year-on-year growth of 15.2% [11] - The manufacturing sector saw profits rise by 18.9%, while the mining industry reported a profit increase of 9.9% [11] - Notable profit growth was recorded in the computer and electronic equipment manufacturing sector, which saw a 200% increase [12] Purchasing Managers' Index (PMI) - The manufacturing PMI for March 2026 was reported at 50.4%, indicating a recovery in manufacturing activity [15] - The production index rose to 51.4%, and the new orders index increased to 51.6%, suggesting improved market demand [17][18] - The non-manufacturing PMI was at 50.1%, indicating a slight improvement in the non-manufacturing sector [21]