经济日报文章指出，联合国日前下调了今年全球增长预期，与此同时，摩根大通、高盛等国际机构纷纷 上调中国经济增长预期。中国经济的稳健与韧性，正成为稳定全球经济的关键力量，也为全球增长贡献 了稀缺资源。4月份外部冲击影响加大，是观察中国经济韧性的一个重要窗口。事实证明，中国经济迎 难而上，保持了平稳增长，彰显出强大韧性和国际竞争力。4月份，我国货物进出口总额增长5.6%，其 中出口增长9.3%；前4个月，我国货物进出口总额增长2.4%，比一季度加快1.1个百分点。这些数据表 明，中国经济在复杂环境中保持了相对稳定的增长势头，这种稳定性本身就是一种重要的全球公共产 品，有助于对冲全球市场不确定性。(经济日报) ...

Core Viewpoint - The Chinese economy has demonstrated resilience and stability in the face of significant external and internal pressures, with key economic indicators showing positive growth despite challenges [1][3]. External Pressures - The international environment has changed dramatically in the first four months of the year, yet China's goods import and export maintained growth, with April showing a year-on-year increase of 5.6% and a 2.4% increase from January to April [3]. - The stability in foreign trade is attributed to diversification, timely responses from private foreign trade enterprises, and a solid industrial foundation that allows for flexibility and resilience in the global supply chain [3][4]. Domestic Demand - Insufficient domestic demand is also a pressure point, but it is being transformed into an opportunity to expand domestic demand [4]. - The government has implemented major strategic initiatives and safety capability projects, with nearly 500 billion yuan allocated in the first four months of the year to support 1,465 key projects, enhancing infrastructure and improving public welfare [5][6]. Consumer Engagement - The "old for new" consumption initiative has revitalized consumer activity, with over 300 million applications for vehicle trade-ins and significant sales in home appliances and digital products, indicating strong consumer participation [5][6]. Economic Dynamics - The Chinese economy is likened to a resilient spring, with increasing pressure leading to greater potential for growth, supported by favorable economic data related to new productive forces [8]. - The ability to withstand pressure is rooted in the leadership of the Communist Party, institutional advantages, a vast market, and the creativity of the population [8][9]. Continuous Adaptation - The approach to managing pressure is not passive but involves proactive innovation and the implementation of effective strategies [9][10].

Group 1 - The book titled "The Logic of China's Economic Development" critiques mainstream economics and its applicability to China, arguing that traditional Western economic theories fail to explain China's unique economic context [1][3] - The authors emphasize that their understanding of China's economy has been a long-term process, reflecting on its distinctiveness and deep logic, which has remained relevant despite changing circumstances over the past five years [3][4] - The emergence of new concepts such as "high-quality development" and "Chinese-style modernization" has been integrated into the authors' existing theoretical framework without significant modifications, indicating the robustness of their analysis [4] Group 2 - The authors acknowledge the unforeseen global changes, particularly the advancements in artificial intelligence, which are expected to revolutionize various sectors, including intellectual labor [4][5] - The book is positioned as a "cross-era" work, anticipating that future literature will be heavily influenced by AI, enhancing the ability to observe, understand, and predict complex phenomena, including the Chinese economy [5] - The publication process involved contributions from various academic and research institutions, highlighting a collaborative effort in refining the book's content [5]

Core Viewpoint - The chief economist of JPMorgan in China, Zhu Haibin, emphasizes that while exports may weaken, consumption and investment are expected to strengthen due to policy support, highlighting the need for enhanced measures to boost consumption [1] Economic Policy Insights - Fiscal policy has room for expansion to support stable growth, with the central government expected to implement measures [1] - There is a necessity for further interest rate cuts and reserve requirement ratio reductions, particularly after September 2024, with a focus on stabilizing the real estate and capital markets as part of financial stability policies [1] Economic Structure Rebalancing - Expanding domestic demand and consumption are prioritized as key tasks in economic work moving forward [1]

5月21日，外交部发言人毛宁主持例行记者会。 来源：澎湃新闻 责编：刘珺宇 校对：吕久彪 有记者提问，我们关注到联合国在日前发布的报告中指出，受到关税战等影响，2025年全球经济增速预计将 放缓至2.4%，比1月预测值低0.4个百分点。同时，中方也发布了4月份国民经济的运行情况。请问发言人， 如何看待关税等外部因素对中国经济的影响？是否担心中国经济会受到冲击？ 毛宁表示，国务院新闻办公室19日举行了新闻发布会，介绍了4月份国民经济运行的情况，我注意到国际媒体 纷纷用"超预期""有韧性"来评价中国经济的表现。特别值得一提的是，在面临高关税壁垒的情况下，中国外 贸保持平稳增长。今年前4个月货物进出口总额同比增长2.4%，其中出口增长7.5%，显示出过硬的国际竞争 力。 同时中国不断扩大开放，让外企在华的发展空间更大、预期更稳。这些情况都充分说明，中国完全有能力、有 条件、有底气应对各种风险挑战。 百万用户都在看 最新！特朗普，签了！ 突传利空！刚刚，暴跌超66%！ 突发！下调25个基点，直线跳水！ 突然！特朗普，重大宣布！ 利好来袭！芯片、特朗普，突传重磅！ 巴基斯坦，重大突发！ 违法和不良信息举报电话：0755 ...

是否担心关税战等外部因素冲击中国经济？外交部：有能力、有条件、有底气 5月21日，外交部发言人毛宁主持例行记者会。有记者提问，我们关注到联合国在日前发布的报告中指 出，受到关税战等影响，2025年全球经济增速预计将放缓至2.4%，比1月预测值低0.4个百分点。同时， 中方也发布了4月份国民经济的运行情况。请问发言人，如何看待关税等外部因素对中国经济的影响？ 是否担心中国经济会受到冲击？ 同时中国不断扩大开放，让外企在华的发展空间更大、预期更稳。这些情况都充分说明，中国完全有能 力、有条件、有底气应对各种风险挑战。 毛宁表示，国务院新闻办公室19日举行了新闻发布会，介绍了4月份国民经济运行的情况，我注意到国 际媒体纷纷用"超预期""有韧性"来评价中国经济的表现。特别值得一提的是，在面临高关税壁垒的情况 下，中国外贸保持平稳增长。今年前4个月货物进出口总额同比增长2.4%，其中出口增长7.5%，显示出 过硬的国际竞争力。 ...

Economic Performance - China's economy shows resilience and positive momentum despite external challenges, with major indicators demonstrating stable growth and accelerated innovation [1][4] - In April, the industrial production increased by 6.1% year-on-year, with equipment manufacturing and high-tech manufacturing sectors growing by 9.8% and 10% respectively, highlighting the transformation and upgrading of the industrial sector [1] Service Sector - The service sector also exhibits steady growth, with the service production index rising by 6% in April, marking the second-highest monthly growth this year [2] - The digital transformation continues to drive growth in modern service industries, with information transmission and software services growing by 10.4% and leasing and business services by 8.9% [2] Domestic Demand - Domestic demand is gradually recovering, supported by consumption and investment policies, with retail sales of household appliances and cultural products significantly outpacing overall retail growth [2][3] - From January to April, fixed asset investment increased by 4%, with equipment investment rising by 18.2%, contributing 64.5% to total investment growth [3] Foreign Trade - Despite a challenging external environment, China's foreign trade remains stable, with total goods import and export value increasing by 2.4% from January to April, reflecting strong resilience and international competitiveness [3] - The growth in trade with ASEAN and Belt and Road countries has accelerated, with private foreign trade enterprises becoming key players in stabilizing foreign trade [3] Policy Support - The Chinese government is implementing more proactive macroeconomic policies to support economic stability and growth, including recent monetary easing measures [4] - The focus on high-quality development is expected to help China navigate challenges and contribute positively to global recovery [4]

Economic Overview - In April, China's economy continued to show a recovery trend, with retail sales of consumer goods and the service production index growing by 4.7% and 5.9% respectively, both up by 0.1 percentage points compared to the first quarter [3][4] - Exports increased by 7.5%, while industrial added value maintained a stable growth rate of 6.4% [3][4] - The data indicates that despite external pressures and internal challenges, China's economy demonstrates significant resilience [1][3] Industrial Growth - The industrial production index for April showed a year-on-year growth of 6.1%, with 36 out of 41 major industries experiencing growth, indicating a broad-based recovery [6][24] - Notably, equipment manufacturing and high-tech manufacturing sectors grew by 9.8% and 10.0% respectively, with new industries becoming key growth drivers [6][7] - The production of 3D printing equipment, industrial robots, and new energy vehicles saw year-on-year increases exceeding 20% [6][24] Service Sector Performance - The national service production index rose by 6.0% year-on-year in April, reflecting a stable recovery and expansion in the service sector [8][25] - The information transmission, software, and IT services sectors grew rapidly, with a year-on-year increase of 10.4% [10][25] - The service sector's internal structure is continuously optimizing, with modern and productive service industries maintaining strong growth [10][25] Consumer Spending - In April, the total retail sales of consumer goods reached 37,174 billion yuan, marking a year-on-year growth of 5.1% [12][11] - The increase in consumer spending is attributed to the effectiveness of government policies aimed at boosting consumption and improving consumer confidence [12][11] - Notable growth was observed in travel, communication, and other service-related consumption categories, driven by holiday travel demand [12][11] Investment Trends - From January to April, fixed asset investment grew by 4.0%, with equipment investment rising by 18.2%, contributing significantly to overall investment growth [14][13] - Infrastructure investment (excluding electricity) increased by 5.8%, while manufacturing investment maintained a stable growth rate of 8.8% [14][15] - The "two heavy" and "two new" policies have positively influenced investment stability, particularly in infrastructure and manufacturing sectors [14][15] Export Dynamics - Despite rising tariffs on exports to the U.S., China's exports remained robust, with a total export value of 22,645 billion yuan in April, reflecting a growth of 9.3% [17][16] - The total import value was 15,745 billion yuan, with a growth rate of 0.8%, indicating a potential need for further activation of domestic demand [17][16] - The share of private enterprises in total imports and exports increased to 56.9%, highlighting an improvement in trade structure [17][16] Employment Market - The average urban unemployment rate from January to April was 5.2%, consistent with the previous year, indicating a stable employment situation [19][18] - The employment market is expected to continue improving, supported by economic fundamentals and effective employment policies [19][18] - However, structural challenges and external pressures remain, necessitating attention to skill development and training [19][18]

Economic Overview - In April, China's economy demonstrated resilience amid external shocks and internal challenges, with various regions and departments implementing proactive macro policies to stabilize growth [1][2] - Key economic indicators showed stable growth, with industrial added value increasing by 6.1% year-on-year and the service sector production index rising by 6.0% [1][2] Industrial Performance - The industrial sector maintained rapid growth, with the added value of industrial enterprises above designated size increasing by 6.1%, marking one of the fastest monthly growth rates since last year [1][5] - Equipment manufacturing saw significant growth, with a year-on-year increase of 9.8%, contributing 55.9% to the overall industrial growth [1][5] Service Sector Growth - The service sector's production index grew by 6.0%, with notable increases in information transmission, software, and IT services (10.4%) and leasing and business services (8.9%) [2][3] - Retail sales of consumer goods increased by 4.7% year-on-year from January to April, with service retail sales growing by 5.1% [3][4] Consumption Trends - The consumption of home appliances and cultural office supplies saw substantial growth, with retail sales increasing by 38.8% and 33.5% respectively in April [3][4] - Travel and communication services experienced double-digit growth due to increased demand during holidays [3][4] Investment Dynamics - From January to April, fixed asset investment (excluding rural households) reached 147,024 billion yuan, growing by 4.0% year-on-year, with high-tech industries showing significant investment growth [5][6] - The manufacturing sector exhibited rapid growth, particularly in integrated circuits (21.3%) and new energy vehicles (38.9%) [5][6] Future Outlook - Despite ongoing international uncertainties, China's economic fundamentals remain strong, supported by coordinated macro policies and innovation-driven growth [5][6] - The industrial sector is expected to continue its transformation and upgrade, with a focus on expanding domestic demand and fostering new industries [6]

Economic Performance - In April, China's economy demonstrated resilience and stable growth despite external pressures and internal challenges, continuing a positive development trend [1] - The latest data from the National Bureau of Statistics indicates that the economy is showing signs of improvement, which helps to alleviate concerns and boost confidence [1] Domestic Demand - Domestic demand is steadily expanding, with retail sales of consumer goods in April increasing by 5.1% year-on-year, driven by policies encouraging the replacement of old goods [3] - The service retail sector also maintained stable growth, with a 5.1% year-on-year increase from January to April, marking two consecutive months of acceleration [3] - Fixed asset investment grew by 4% year-on-year from January to April, with investment in machinery and equipment rising by 18.2%, contributing 64.5% to total investment growth [3] Supply Side - The real economy is experiencing both quantity and quality improvements, with industrial added value for large enterprises increasing by 6.1% year-on-year in April, marking one of the fastest monthly growth rates since last year [4] - The equipment manufacturing sector saw a 9.8% year-on-year increase in added value, contributing 55.9% to the growth of large-scale industry [4] - High-tech manufacturing added value increased by 10% year-on-year in April, with significant growth in aerospace and integrated circuit manufacturing, which rose by 21.4% and 21.3% respectively [4] Foreign Trade - In April, China's total goods import and export value reached 38,391 billion yuan, a year-on-year increase of 5.6%, with exports growing by 9.3% and imports by 0.8% [5] - From January to April, the total goods import and export value increased by 2.4% year-on-year, accelerating by 1.1 percentage points compared to the first quarter [5] - The growth in foreign trade is attributed to China's robust manufacturing capabilities and a diversified export strategy, particularly with countries involved in the Belt and Road Initiative, which saw a 3.9% increase in trade [5] Economic Resilience - Despite the rapidly changing international environment and increased external pressures, China's economic fundamentals remain strong, with significant potential for long-term growth [5] - Recent high-level economic talks between China and the U.S. have led to substantial progress in reducing bilateral tariffs, laying the groundwork for further negotiations [5] - The focus remains on stabilizing employment, businesses, markets, and expectations to ensure high-quality development in response to external uncertainties [6]