Group 1 - The implementation of a package of incremental policies since September 26 last year has led to a steady recovery in both invoice sales and tax revenue, indicating a positive trend in the economy [1] - The capital market-related tax revenue has shown a high growth rate, with a year-on-year increase of 56.8% in capital market services tax, and a significant 110.5% increase in securities transaction stamp duty [2] - The manufacturing sector's tax revenue has increased by 5.4% year-on-year, contributing 31% to total tax revenue, with high-end manufacturing sectors like railway and aerospace showing a notable growth of 31.5% [2] Group 2 - The real estate sector has seen a narrowing decline in tax revenue, with a year-on-year decrease of 9.8%, reflecting the effectiveness of policies aimed at stabilizing the real estate market [3] - There has been a significant increase in the procurement of machinery and equipment by enterprises, with a 9.7% year-on-year growth, and high-tech manufacturing showing an 11.8% increase [3] - The steady growth in invoice data reflects an improving economic operation, gradual enhancement in corporate profitability, and sustained consumer vitality, supported by active capital market transactions [3]

Core Viewpoint - The article emphasizes the steady progress of China's economy as reflected in the third quarter reports, highlighting a GDP growth of 5.2% year-on-year and a resilient economic structure amid external challenges [3][4][9]. Economic Performance - In the first three quarters, GDP increased by 5.2% year-on-year, with a total economic increment of 39,679 billion yuan, which is 1,368 billion yuan more than the previous year [4][9]. - The urban unemployment rate averaged 5.2%, remaining stable compared to the first half of the year, while the core Consumer Price Index (CPI) rose by 0.6% [4][9]. - The total import and export volume reached a historical high, with a year-on-year growth of 6.0% in the third quarter [10]. High-Quality Development - The proportion of value added from high-tech manufacturing and equipment manufacturing reached 16.7% and 35.9%, respectively, indicating a shift towards high-quality development [5]. - Non-fossil energy consumption increased by approximately 1.7 percentage points, reflecting progress in green and low-carbon transformation [5]. Economic Resilience - Despite external pressures and domestic demand challenges, China's economy grew by 5.2%, showcasing its resilience compared to other major economies [5][10]. - The manufacturing sector showed signs of recovery, with the Purchasing Managers' Index (PMI) indicating improved supplier delivery times [8][10]. Policy Impact - The implementation of proactive macroeconomic policies has stabilized the economy and provided support for long-term growth [6][11]. - A total of 300 billion yuan in special bonds were allocated to stimulate consumer demand, contributing to a 53.5% growth rate in final consumption expenditure [7]. Future Outlook - The third quarter's GDP growth of 4.8% remains higher than most major economies, with favorable conditions for achieving annual targets [9][10]. - Positive indicators, such as rising industrial product prices and increased consumer activity during holidays, suggest ongoing economic vitality [10].

国家统计局新闻发言人表示，三季度GDP增速回落是多种因素共同作用的结果。尽管经济增速有所回 落，但经济稳中有进发展态势没有变。实现全年预期目标（5%左右）有基础有支撑，但也需要付出艰 苦努力。 二是生产继续强于需求。9月工业增加值同比增长6.5%，与9月中国出口增速8.3%相呼应，其中高技术 制造业同比增长10.3%。9月服务业生产指数同比增长5.6%，其中信息传输、软件和信息技术服务业同 比增长12.8%，体现出产业转型升级对经济的支撑力度。 供需分化的"温差"也在价格中有所体现。三季度GDP平减指数为-1.1%，相比二季度的-1.3%略有收窄， 还需要通过改革发力、政策给力来着力缩小"温差"。尽管四季度受高基数影响，经济增速或许会面临一 定挑战，但通过政策发力，相信全年能够顺利实现5%的增长目标。 一方面，消费和出口的韧性仍强。四季度社零增速或在高基数等因素的影响下，有所放缓。但值得关注 的是，目前政策正在加大对服务消费的支持力度，且服务消费的韧性更强，预计最终消费对GDP的支撑 或有望维持一定韧性。今年9月，商务部等9部门印发《关于扩大服务消费的若干政策措施》，提出培育 服务消费促进平台、丰富高品质服务 ...

据国家税务总局消息，自去年9月26日中央政治局会议部署实施一揽子增量政策以来，叠加存量政策显 效，发票销售和税收收入增速双双稳步回升，特别是主要行业和税种均实现平稳增长，反映我国经济向 好态势不断稳固。 全国企业设备更新加快推进，消费品以旧换新政策持续释放消费活力。增值税发票数据显示，一年来， 全国企业采购机械设备类金额同比增长9.7%，其中高技术制造业采购机械设备类金额同比增长11.8%， 保持良好增长势头；冰箱等日用家电零售业、电视机等家用视听设备零售业销售收入同比分别增长 55.4%和35.3%。 中央财经大学副校长陈斌开认为，发票数据增速稳步回升，反映经济运行稳中向好、企业盈利逐步改 善、消费活力持续释放，加之今年资本市场交易活跃等因素，有力带动税收收入稳中有升。（经济日报 记者 董碧娟） 资本市场相关税收保持较高增速，反映股市交易活跃。一年来，资本市场服务业税收同比增长56.8%， 其中证券交易印花税同比增长110.5%；与资本市场相关的行业、税种收入增长较快，如保险业税收同 比增长13.3%；同时，股权转让以及上市公司分红增加。 主要行业、税种收入增长平稳，反映企业经营及利润状况不断改善。从主要行 ...

Economic Overview - The preliminary data for the first three quarters indicates that the GDP reached 10,150.36 billion yuan, reflecting a year-on-year growth of 5.2% at constant prices, showcasing a stable and progressive economic operation with positive outcomes in high-quality development [1] Agriculture Sector - The agricultural production situation is favorable, with the value added in agriculture (planting) increasing by 3.6% year-on-year. The summer grain and early rice output increased by 190,000 tons compared to the previous year, and the overall autumn grain production remains stable, indicating a potential for another bumper harvest for the year [1] Industrial Sector - The industrial production has shown rapid growth, with the value added of large-scale industrial enterprises increasing by 6.2% year-on-year in the first three quarters. Specifically, the value added in equipment manufacturing and high-tech manufacturing grew by 9.7% and 9.6% respectively [1] Service Sector - The service industry has experienced steady growth, with a year-on-year increase of 5.4% in value added. Notably, the information transmission, software, and IT services sector saw an increase of 11.2%, while leasing and business services, as well as transportation, warehousing, and postal services, grew by 9.2% and 5.8% respectively [1] Consumer Spending and Investment - The total retail sales of consumer goods reached 3,658.77 billion yuan, marking a year-on-year growth of 4.5%. Additionally, manufacturing investment increased by 4.0% year-on-year [1] Income Growth - The per capita disposable income for residents reached 32,509 yuan, reflecting a nominal year-on-year growth of 5.1%, and a real growth of 5.2% after adjusting for price factors [2]

本报北京10月20日电 （记者刘志强）10月20日，国家统计局发布数据显示：初步核算，前三季度国内 生产总值1015036亿元，按不变价格计算，同比增长5.2%。经济运行保持稳中有进态势，高质量发展取 得积极成效。 农业生产形势较好。前三季度，农业（种植业）增加值同比增长3.6%，夏粮早稻产量比上年增加19万 吨，秋粮生产总体稳定，全年粮食有望再获丰收。 工业生产较快增长。前三季度，全国规模以上工业增加值同比增长6.2%。其中，规模以上装备制造 业、高技术制造业增加值同比分别增长9.7%、9.6%。 服务业平稳增长。前三季度，服务业增加值同比增长5.4%。其中，信息传输、软件和信息技术服务 业，租赁和商务服务业，交通运输、仓储和邮政业增加值同比分别增长11.2%、9.2%、5.8%。 前三季度，社会消费品零售总额365877亿元，同比增长4.5%；制造业投资同比增长4.0%。 前三季度，全国居民人均可支配收入32509元，同比名义增长5.1%，扣除价格因素实际增长5.2%。 （相关报道见第二版） （文章来源：人民日报） ...

Core Viewpoint - The Chinese economy shows steady growth with a GDP increase of 5.2% year-on-year in the first three quarters, indicating a positive trend in economic performance despite external challenges [1][2][3] Economic Performance - GDP growth reached 39,679 billion yuan, an increase of 1,368 billion yuan compared to the previous year [1] - Quarterly GDP growth rates were 5.4% in Q1, 5.2% in Q2, and 4.8% in Q3 [1] Employment and Prices - The average urban unemployment rate for the first three quarters was 5.2%, consistent with the first half of the year [1] - The Consumer Price Index (CPI) slightly decreased by 0.1%, while the core CPI, excluding food and energy, rose by 0.6% [1] International Trade and Foreign Exchange - The foreign trade sector demonstrated resilience, with import and export volumes reaching historical highs [1] - As of September, foreign exchange reserves remained above 3.3 trillion USD, and the RMB exchange rate showed stability [1] Industrial Growth - The added value of the equipment manufacturing and high-tech manufacturing industries accounted for 35.9% and 16.7% of the total industrial added value, respectively [2] - Non-fossil energy consumption increased by approximately 1.7 percentage points year-on-year [2] Income and Living Standards - Per capita disposable income growth matched economic growth, with a reduction in the income gap between urban and rural residents [2] Policy and Future Outlook - Coordinated monetary and fiscal policies are expected to support economic stability and growth [2][3] - The fourth quarter is anticipated to see GDP growth between 5.0% and 5.2%, with a full-year target of around 5.1% [3]

新华财经北京10月20日电（安娜、王春霞）今年以来，面对外部压力加大和内部困难较多的复杂局面， 我国经济运行情况如何？国家统计局20日公布答案——前三季度，我国国内生产总值（GDP）同比增长 5.2%，经济平稳运行的主基调没有改变。专家认为，在前三季度我国经济"成绩单"的基础上，全年经济 增速目标实现可期。 5.2%！我国是全球经济稳定可靠的动力源 GDP增速是衡量一国经济总量增长情况的核心指标，也是观察经济运行最为重要的宏观指标之一。 国家统计局当日发布的数据显示，前三季度我国GDP为1015036亿元，按不变价格计算，同比增长 5.2%，增速比上年全年和上年同期分别加快0.2、0.4个百分点；经济增量达到39679亿元，同比多增 1368亿元。 今年以来，世界经济增长动能不足，贸易保护主义盛行，地缘政治冲突、国际贸易摩擦等问题频发，外 部环境变化带来的不利影响加深，国内有效需求不足，一些企业经营困难，推动经济稳定运行面临不少 困难和挑战。 三季度4.8%的经济增速高于多数主要经济体 从单季经济表现来看，一季度我国GDP同比增长5.4%，二季度增长5.2%，三季度增长4.8%。 三季度我国经济增速缘何回落？ ...

记者丨 周潇枭 见习记者冉黎黎 中国信息通信研究院政策与经济研究所新型工业化研究部高级工程师颜蒙进一步对21世纪经济 报道记者表示，2025年前三季度，我国装备制造业的高速发展可从三方面加以认识，一是规模 总量不断扩张，二是细分结构持续优化，三是"拳头产品"竞相涌现。 值得注意的是，从产品来看， 前三季度，机器人减速器产品产量"猛增"，增长1.2倍 ；另外， 工业机器人、服务机器人等产品产量也呈现出两位数增长态势，分别增长29.8%、16.3%。国 家统计局新闻发言人就2025年前三季度国民经济运行情况答记者问时提到，前三季度，工业机 器人、服务机器人、动车组等产品产量分别增长29.8%、16.3%、8.6%。"新质生产力发展将继 续创造新的增长点，有效激发自主创新活力与产业升级动力，也有助于对冲下行压力，增强上 行动力"。 拉动工业主引擎 国家统计局数据显示，9月份，规模以上工业增加值同比实际增长6.5%（增加值增速均为扣除 价格因素的实际增长率）。从环比看，9月份，规模以上工业增加值比上月增长0.64%。1—9 月份，规模以上工业增加值同比增长6.2%。 前三季度，分三大门类看，采矿业增加值同比增长5.8 ...

为全年实现5%左右增长目标，出台新一轮稳增长政策的必要性上升。 中国经济三季报透露了经济增长的两大趋势：新质生产力正为高质量发展注入新动能、消费支出的贡献 率大幅提升。 国家统计局10月20日发布的数据显示，今年前三季度，国内生产总值同比增长5.2%。其中，三季度同 比增长4.8%。其中，前三季度消费支出对经济增长贡献率达53.5%，比上年全年提升9个百分点；规模 以上高技术制造业增加值同比增长9.6%，新兴产业茁壮成长，推动产业向高端化、智能化、绿色化转 型，提升了中国在全球价值链中的地位。 国家统计局新闻发言人表示，尽管外部环境复杂演变，经济发展面临不少压力，但中国经济"稳"的格 局、"进"的势头、"韧"的特性没有改变，保持稳中有进发展态势具有坚实支撑。中国经济是一片大海， 而不是一个小池塘，能够经受住风吹雨打的考验。 展望四季度，多位专家对第一财经记者表示，实现全年预期目标有基础有支撑，但也需要付出艰苦努 力。面对外部环境负面冲击、国内有效需求不振、民间投资低迷、物价低位运行等问题，为全年实现 5%左右增长目标，出台新一轮稳增长政策的必要性上升，核心是财政加力、货币宽松、更大力度推动 房地产市场止跌回稳 ...