Group 1 - The urban surveyed unemployment rate in China for May is reported at 5%, which is lower than the expected rate of 5.10% and the previous value of 5.10% [1]

Economic Performance - In April, the industrial added value for large-scale industries grew by 6.1% year-on-year, down from 7.7% in March, with a cumulative year-on-year growth of 6.4%[3] - High-tech industries maintained a strong performance with a 10% year-on-year growth in April, although slightly down from 10.7% in March[3] - Fixed asset investment saw a cumulative year-on-year growth of 4% in April, a decrease of 0.2 percentage points from the first quarter[3] Consumer Trends - The total retail sales of consumer goods in April increased by 5.1% year-on-year, down from 5.9% in March, but still better than the previous year's performance[3] - Jewelry retail sales surged by 25.3% year-on-year in April, significantly higher than the previous month's 10.6% growth[3] - Home appliance and audio-visual equipment sales also showed strong growth at 38.8% year-on-year in April, up from 35.1% in March[3] Employment and External Factors - The urban surveyed unemployment rate in April was 5.1%, a slight decrease of 0.1 percentage points from the previous month, indicating stable employment conditions[3] - Despite external pressures, domestic demand indicators such as employment and retail sales did not show signs of a sharp decline, suggesting resilience in the economy[3] - The report highlights potential risks from export-driven growth strategies that may affect the second half of the year[3]

Economic Overview - In the first four months of 2023, multiple economic indicators showed a year-on-year growth acceleration compared to Q1, indicating stable growth in production and demand, overall stable employment, and the accumulation of new growth drivers [1][4] - The National Bureau of Statistics reported that the total value of goods imports and exports increased by 2.4% year-on-year, accelerating by 1.1 percentage points compared to Q1 [4] Industrial Growth - In April, the industrial added value of large-scale enterprises increased by 6.1% year-on-year, exceeding market expectations by 0.9 percentage points [2] - Among 41 major industries, 36 experienced year-on-year growth, indicating a broad growth base [2] - High-tech manufacturing added value grew by 10% year-on-year, significantly outpacing overall industrial growth [2][3] New Growth Drivers - In April, production of new energy vehicles and lithium-ion batteries for vehicles surged by 38.9% and 61.8% respectively, showcasing rapid growth in smart products [3] - The manufacturing value added of smart drones and smart vehicle-mounted equipment increased by 74.2% and 29.3% respectively, far exceeding the overall industrial growth rate [3] Employment Situation - The urban surveyed unemployment rate in April was 5.1%, a decrease of 0.1 percentage points from the previous month, marking two consecutive months of decline [7] - The average urban surveyed unemployment rate for January to April was 5.2%, consistent with the same period last year [7] Investment Trends - From January to April, fixed asset investment (excluding rural households) reached 147,024 billion yuan, growing by 4.0% year-on-year, with a 0.10% month-on-month increase in April [5][6] - The focus on improving and safeguarding livelihoods, along with significant regional strategies, is expected to drive sustained investment growth [6]

Core Insights - The average urban surveyed unemployment rate in China for January to April is 5.2%, unchanged from the same period last year [1] - In April, the urban surveyed unemployment rate is 5.1%, a decrease of 0.1 percentage points from the previous month [1] Employment Data - The unemployment rate for local registered labor is 5.2%, while the rate for migrant labor is 4.8%, with agricultural migrant labor at 4.7% [1] - The surveyed unemployment rate in 31 major cities is 5.1%, also down by 0.1 percentage points from the previous month [1] - The average weekly working hours for employed persons in enterprises nationwide is 48.3 hours [1]

国家统计局：4月全国城镇调查失业率为5.1% 比上月下降0.1个百分点 智通财经5月19日电，国家统计局数据显示，1-4月份，全国城镇调查失业率平均值为5.2%，与上年同期 持平。4月份，全国城镇调查失业率为5.1%，比上月下降0.1个百分点。 ...

中国4月城镇调查失业率 5.1%，预期5.20%，前值5.20%。 ...

中国4月城镇调查失业率 5.1%，前值 5.2%。 ...

Group 1 - The main expected development goals for this year include a GDP growth of around 5% [2] - The urban surveyed unemployment rate is targeted at approximately 5.5%, with over 12 million new urban jobs to be created [2] - The consumer price index (CPI) is expected to rise by around 2% [2] - Residents' income growth is aimed to be in sync with economic growth [2] - The international balance of payments is expected to remain basically balanced [2] - Grain production is projected to be around 1.4 trillion jin [2] - Energy consumption per unit of GDP is targeted to decrease by about 3%, with continuous improvement in ecological environment quality [2]