Economic Performance Overview - In May, the national economy showed resilience and stability, laying a solid foundation for achieving annual economic goals due to more proactive macro policies [1] - Key indicators in May demonstrated month-on-month increases, with industrial added value growing by 5.8% year-on-year and 0.61% month-on-month [1] - The service sector also accelerated, with the service production index increasing by 6.2% year-on-year and the business activity index at 50.2, indicating expansion [1] Consumer Spending Insights - Retail sales in May reached 41,326 billion yuan, a year-on-year increase of 6.4%, marking a new high for 2024 [1] - The growth in consumption was driven by favorable policies and promotional activities, including the "6.18" online shopping festival and holiday effects from the "May Day" and "Duanwu" festivals [1] - Domestic tourism during the "May Day" holiday saw a 6.4% increase in visitor numbers, while restaurant revenue grew by 5.9% year-on-year [1] Export and Trade Performance - In May, China's total goods import and export amounted to 38,098 billion yuan, with exports at 22,767 billion yuan, reflecting a year-on-year growth of 6.3% [2] - Despite the impact of increased tariffs from the U.S., overall export growth remained positive, with a 7.2% increase from January to May [2] Investment Trends - Fixed asset investment from January to May grew by 3.7%, lower than the 4.0% growth observed in the first four months [2] - Investment in the primary industry rose by 8.4%, while the secondary industry saw an increase of 11.4%, and the tertiary industry experienced a decline of 0.4% [2] Real Estate Market Dynamics - The real estate market showed signs of weakness, with second-hand housing prices in first-tier cities declining by 0.7% month-on-month and new housing prices also decreasing [3] - Real estate investment, sales, and construction area further declined year-on-year in May, indicating a need for policy intervention to stabilize the market [3] Policy Recommendations - There is a necessity for targeted macro policies to enhance investment momentum and stimulate private investment, particularly in the real estate sector [3] - The government is encouraged to innovate service offerings to boost consumption, especially in tourism, dining, retail, and transportation as summer approaches [3]

Core Viewpoint - The National Bureau of Statistics indicates that the overall economic operation shows strong support for the annual economic performance, despite complex environments faced this year [1] Economic Performance - The spokesperson, Fu Linghui, emphasized that the economy has demonstrated strong resilience and vitality under the leadership of the central government [1] - The long-term positive fundamentals of the economy remain unchanged, with clear characteristics of stability, advantages, resilience, and potential [1] Future Outlook - The economic stability is supported by solid foundations, guarantees, and backing, suggesting a favorable outlook for the future [1]