Economic Overview - In May, the national economy showed overall stability and progress under pressure, with key indicators reflecting positive growth [3][6]. - The industrial added value for large-scale enterprises increased by 5.8% year-on-year [3]. - The service production index rose by 6.2% year-on-year [3]. - Retail sales of consumer goods grew by 6.4% year-on-year [3]. Investment and Trade - From January to May, fixed asset investment (excluding rural households) increased by 3.7% year-on-year [3]. - The total retail sales of consumer goods reached 20,317.1 billion yuan, marking a 5% year-on-year increase [3]. - The total import and export value rose by 2.5% year-on-year [3].

Domestic News - The National Bureau of Statistics reported that the industrial added value above designated size increased by 6.1% year-on-year in April [3] - The urban surveyed unemployment rate nationwide stands at 5.1% [3] - The total retail sales of consumer goods increased by 5.1% year-on-year [3] - In 70 large and medium-sized cities, the sales prices of commercial residential properties remained stable or slightly decreased month-on-month, with the year-on-year decline continuing to narrow [3] International News - The EU will propose to G7 finance ministers to lower the price cap on Russian seaborne oil, potentially setting it at $50 per barrel [5] - The Federal Reserve officials expressed a preference for only one interest rate cut this year, with recent economic data being described as very good [5] - The U.S. Treasury yields have shown a V-shaped recovery after the 30-year Treasury yield broke above 5% and then declined [7]

央视网消息：中国国家统计局5月19日发布2025年4月份中国国民经济运行数据。数据显示4月份，面对外部冲击影响加大、内 部困难挑战叠加的复杂局面，国民经济顶住压力稳定增长，延续向新向好发展态势。 4月份，货物进出口总额38391亿元，同比增长5.6%。全国城镇调查失业率为5.1%，比上月下降0.1个百分点。此外，全国居民 消费价格（CPI）同比下降0.1%，环比上涨0.1%。 国家统计局新闻发言人、国民经济综合统计司司长 付凌晖：总的来看，4月份，外部冲击影响加大，但宏观政策协同发力， 主要指标平稳较快增长，国民经济延续向新向好态势。也要看到，外部不稳定不确定因素仍然较多，国民经济持续回升向好基础 还需进一步稳固。 总台央视记者 梁爽：国家统计局相关负责人表示，下阶段，将坚定不移扩大高水平对外开放，着力稳就业、稳企业、稳市 场、稳预期，扎实推进高质量发展，推动经济持续回升向好。 4月份，中国规模以上工业增加值同比增长6.1%。装备制造业增加值同比增长9.8%，高技术制造业增加值增长10.0%，分别快 于全部规模以上工业增加值3.7和3.9个百分点。 国家统计局新闻发言人、国民经济综合统计司司长 付凌晖：4月份 ...

4、100.89亿元市值限售股今日解禁 （原标题：今日看点｜国新办将举行2025年4月份国民经济运行情况新闻发布会；国内油价预计将迎年 内第五降） 经济观察网讯 5月19日重点关注的财经要闻与资本市场大事： 1、国新办将举行2025年4月份国民经济运行情况新闻发布会 5月19日上午10时，国新办将举行新闻发布会，国家统计局新闻发言人、国民经济综合统计司司长付凌 晖介绍2025年4月份国民经济运行情况，并答记者问。 2、4月70城房价数据将公布 5月19日，国家统计局将发布2025年4月份70个大中城市商品住宅销售价格变动情况。 3、国内油价预计将迎年内第五降 国内成品油新一轮调价窗口将于5月19日24时开启。综合机构观点，国内成品油价或将出现年内第五次 下跌。今年以来，国内油价已经历九轮调价窗口，分别为"三涨四跌两搁浅"。涨跌互抵后，国内汽、柴 油价格每吨较去年底分别下调425元、410元。若本轮调整落地，2025年调价格局将变为"三涨五跌两搁 浅"。 5月19日，共有12家公司限售股解禁，合计解禁量为3.51亿股，按最新收盘价计算，合计解禁市值为 100.89亿元。 从解禁量来看，5家公司解禁股数超千万股。 ...

Economic Overview - The overall trend of China's economy remains positive, with recent financial data indicating sustained growth in monetary aggregates and support for the real economy [3][4]. - As of the end of April, the M2 (broad money) balance grew by 8% year-on-year, reflecting a 1 percentage point increase from the previous month, influenced by low base effects from last year and effective counter-cyclical adjustments by the central bank [3]. Financial Indicators - In the first four months of the year, the social financing scale stock, broad money M2, and RMB loan growth rates were 8.7%, 8%, and 7.2% respectively, all exceeding the nominal GDP growth rate, indicating strong financial support for the real economy [3]. - The Consumer Price Index (CPI) rose by 0.1% month-on-month in April, while year-on-year it decreased by 0.1%. The Producer Price Index (PPI) fell by 0.4% month-on-month and decreased by 2.7% year-on-year [3]. Industrial Performance - In the first quarter, profits of industrial enterprises above designated size turned from a year-on-year decline of 3.3% to a growth of 0.8%, driven by the continued release of policy effects [4]. - The equipment manufacturing and high-tech manufacturing sectors showed significant profit support, contributing to the overall improvement in industrial economic quality and efficiency [4].

Economic Overview - In the first quarter of 2025, China's GDP reached 31.8758 trillion yuan, showing a year-on-year growth of 5.4% and a quarter-on-quarter increase of 1.2% [3] - The primary industry added value was 1.1713 trillion yuan, growing by 3.5% year-on-year; the secondary industry added value was 11.1903 trillion yuan, increasing by 5.9%; and the tertiary industry added value was 19.5142 trillion yuan, with a growth of 5.3% [3] Financial Data - As of April 2025, the M2 money supply grew by 8% year-on-year, reflecting a 1 percentage point increase from the previous month, indicating effective monetary policy and financial support for the economy [4] - The social financing scale, M2, and RMB loan growth rates were 8.7%, 8%, and 7.2% respectively, all exceeding nominal GDP growth, demonstrating strong financial support for the real economy [4] Price Indices - In April 2025, the Consumer Price Index (CPI) rose by 0.1% month-on-month but fell by 0.1% year-on-year, while the Producer Price Index (PPI) decreased by 0.4% month-on-month and 2.7% year-on-year [4] - The core CPI showed stable growth, and some industrial prices continued to improve year-on-year, indicating a gradual recovery in market demand [4] Industrial Profit - In the first quarter of 2025, profits of industrial enterprises above designated size turned from a 3.3% decline in the previous year to a 0.8% increase, driven by policy effects and significant contributions from equipment manufacturing and high-tech manufacturing sectors [5]