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 Viewpoint - The article highlights that China's economy is showing signs of stable growth, with various economic indicators improving in the first four months of the year, despite external uncertainties. The industrial sector, in particular, has demonstrated robust performance, driven by policy support and innovation [1][5]. Economic Indicators - In April, the industrial added value for large-scale enterprises increased by 6.1% year-on-year, surpassing market expectations by 0.9 percentage points [3][4]. - From January to April, the total value of goods imports and exports grew by 2.4% year-on-year, accelerating by 1.1 percentage points compared to the first quarter [7]. - Retail sales of consumer goods rose by 4.7% year-on-year in the same period, with service retail sales increasing by 5.1% [7][8]. Industrial Performance - In April, 36 out of 41 major industries reported year-on-year growth, indicating a broad-based recovery in industrial production [4]. - High-tech manufacturing saw a significant increase, with added value growing by 10% year-on-year, driven by sectors such as integrated circuit manufacturing and optoelectronic device manufacturing, which grew by 21.3% and 19%, respectively [4]. - Production of new energy vehicles and lithium-ion batteries surged by 38.9% and 61.8%, respectively, showcasing the growth of industrial new momentum [4]. Employment Situation - The urban surveyed unemployment rate in April was 5.1%, a decrease of 0.1 percentage points from the previous month, indicating a stable employment environment [9]. - The average urban surveyed unemployment rate from January to April was 5.2%, consistent with the same period last year [9]. Investment Trends - Fixed asset investment (excluding rural households) reached 147,024 billion yuan, growing by 4.0% year-on-year, with a notable 8.0% increase when excluding real estate development [8]. - The article emphasizes the potential for industrial upgrades and the positive development of emerging industries, such as high-end equipment and artificial intelligence [8].