Core Viewpoint - The economic data for May indicates a stable performance in China's economy, with consumer spending showing significant growth due to macro policies and resilient export sectors [2][4]. Group 1: Consumer Spending - In May, the total retail sales of consumer goods increased by 6.4% year-on-year, marking a 1.3 percentage point acceleration from the previous month, the highest monthly growth rate this year [2]. - The growth in consumer spending is attributed to the "May Day" and Dragon Boat Festival holidays, as well as promotional events like "618" and the implementation of the old-for-new policy [2][7]. Group 2: Investment and Exports - Fixed asset investment (excluding rural households) grew by 3.7% year-on-year from January to May, a decline of 0.3 percentage points compared to the previous period, with real estate investment down by 10.7% [3]. - Exports remained resilient, with a year-on-year growth of 4.8% in May, despite a 3.4% decline in imports, reflecting a challenging external trade environment [3][4]. Group 3: Industrial Production - The industrial added value for large-scale enterprises increased by 5.8% year-on-year in May, maintaining a growth rate above 5.5% [4][6]. - The production of high-tech products, such as smart drones and industrial robots, saw significant increases, with smart drone manufacturing up by 85.9% and industrial robot production doubling [6]. Group 4: Economic Outlook - The spokesperson from the National Bureau of Statistics emphasized the resilience and potential of China's economy, highlighting the need for proactive macro policies to strengthen domestic circulation and promote high-quality development [4][6].