Core Points - The Heilongjiang provincial government is actively promoting local high-quality products through various initiatives to expand their market reach both domestically and internationally [3] - The provincial commerce department has established platforms like "Heilongjiang Quality Products," "Nine Treasures and Eighteen Products," and "Heilongjiang Time-honored Brands" to facilitate product sales [3] Group 1 - The "Heilongjiang Good Products Global Tour" has been launched, with six events held in cities such as Haikou, Ningbo, Chengdu, Hong Kong, Europe, and the Middle East, resulting in over 260 cooperation intentions worth more than 40 billion yuan [3] - The provincial commerce department plans to continue these activities in Jinan and Beijing in June and July to further promote local products [3] Group 2 - The provincial commerce department has partnered with major e-commerce platforms to enhance product sales channels, including the launch of "China Specialty · Heilongjiang Specialty Pavilion" on JD.com and a flagship store on Tmall [3] - Future plans include collaborations with e-commerce companies and live streaming organizations to promote local brands through live streaming events and online marketing training for local businesses [3]

Economic Performance - In April, China's economy demonstrated significant resilience amid complex conditions, with major economic indicators showing stable and rapid growth [1] - The industrial added value for large-scale enterprises increased by 6.1% year-on-year and 0.22% month-on-month, marking a notable performance in monthly data since last year [1] - The service production index grew by 6.0% year-on-year, reaching the second-highest monthly growth rate this year [1] Domestic Demand - Positive changes were observed in domestic demand, with substantial sales growth in products related to the "old for new" consumption initiative, significantly supporting retail sales [1] - Retail sales of household appliances and audio-visual equipment surged by 38.8% year-on-year, continuing to accelerate this year [1] - Retail sales for cultural office supplies, furniture, and communication equipment increased by 33.5%, 26.9%, and 19.9% year-on-year, respectively, all exceeding the overall retail growth rate [1] Investment Trends - The effects of "two heavy" and "two new" policies are becoming increasingly evident, with investment in equipment and tools rising by 18.2% year-on-year from January to April, contributing 64.5% to total investment growth [1] - Investment in consumer goods manufacturing and equipment manufacturing grew by 13.4% and 8.2% year-on-year, reflecting the impact of industrial upgrading [1] Foreign Trade - China's foreign trade showed strong resilience, with total goods import and export value increasing by 2.4% year-on-year from January to April, accelerating by 1.1 percentage points compared to the first quarter [2] - Private enterprises' imports and exports rose by 6.8% year-on-year, outperforming the overall foreign trade situation [2] - Exports of electromechanical products grew by 9.5% year-on-year, indicating a positive trend [2] High-Tech Manufacturing - The added value of high-tech manufacturing above designated size increased by 10% year-on-year in April, with aerospace equipment manufacturing and integrated circuit manufacturing growing by 21.4% and 21.3%, respectively [2] - The added value of digital product manufacturing also achieved a 10% year-on-year increase [2] - Production of new energy products, such as electric vehicles and charging piles, rose by 38.9% and 43.1%, respectively, reflecting the deepening of green and low-carbon transformation [2] Real Estate Market - In April, housing prices in 70 large and medium-sized cities remained generally stable, with the year-on-year decline in first, second, and third-tier cities continuing to narrow [2] - The real estate market's transactions and prices are stabilizing, moving towards a recovery phase [2] Economic Resilience Factors - China's economic resilience is attributed to a stable economic foundation, numerous advantages, strong resilience, and significant potential [3] - The large-scale market, accelerated restructuring of the entire industrial chain, and continuous empowerment of new production factors provide systematic support for economic development [3] - Recent policy measures, including interest rate cuts and the establishment of new policy financial tools, aim to support technological innovation and expand consumption [3]

Core Viewpoint - China's foreign trade achieved a remarkable 2.4% growth in the first four months of the year, despite a complex international economic environment, showcasing resilience and strong competitiveness in manufacturing [1][9][11]. Trade Performance - In April, China's total foreign trade value reached 3.84 trillion yuan, marking a 5.6% year-on-year increase, contributing to the overall growth in the first four months [3][5]. - April's trade performance was the second highest for the same month historically, indicating robust trade activity despite external challenges [11]. Key Drivers of Growth - Traditional export sectors, particularly machinery and electrical products, including electric vehicles, continued to see growth [8]. - Emerging markets, especially ASEAN and countries involved in the Belt and Road Initiative, experienced rapid growth, enhancing trade relationships [8][15]. - Private enterprises remained the mainstay of foreign trade growth, demonstrating their significant role in the sector [8]. Economic Resilience - The data reflects China's economic resilience, supported by effective policy adjustments and the adaptability of market participants [9][26]. - The ability to quickly adjust to trade frictions and supply chain disruptions highlights the strength of China's foreign trade system [11]. Structural Optimization - Imports are undergoing structural optimization, aligning with the demand for high-quality supply and supporting long-term economic growth [16]. - The manufacturing sector is experiencing a transformation towards value creation, with a focus on green, low-carbon, and intelligent products [13][24]. Policy Support - Coordinated policy measures, including export tax rebates and trade facilitation, have stabilized business confidence and created a favorable environment for enterprises [18][20]. - The stable exchange rate of the yuan and decreasing logistics costs have further enhanced supply chain efficiency [20]. Future Outlook - The cultivation of new growth drivers in technology innovation, digital transformation, and green development presents significant potential for future growth [22]. - The ongoing upgrade of high-tech and strategic emerging industries, alongside traditional industry enhancements, is expected to drive economic recovery [24].

Trade Data Summary - In the first two months of the year, China's total goods trade value reached 6.54 trillion yuan, a year-on-year decrease of 1.2%. Exports amounted to 3.88 trillion yuan, marking a historical high for the same period, with a year-on-year increase of 3.4%. Imports were 2.66 trillion yuan, down 7.3% year-on-year [2][3] - The overall foreign trade operation in China remained stable, with a 1.7% increase in imports and exports after adjusting for fewer working days compared to last year [3] - Exports of mechanical and electrical products reached 2.33 trillion yuan, growing by 5.4% year-on-year, accounting for 60% of total exports, an increase of 1.1 percentage points from the previous year [3] - Private enterprises showed continued innovation strength, with a total import and export value of 3.69 trillion yuan, a year-on-year increase of 2%, representing 56.4% of China's total foreign trade [3] - ASEAN maintained its position as China's largest trading partner, with trade value of 1.03 trillion yuan, a year-on-year increase of 4%, accounting for 15.8% of total trade [3] Consumer Price Index (CPI) Summary - In February 2025, the national consumer price index (CPI) decreased by 0.7% year-on-year, with urban and rural areas both experiencing a decline of 0.7%. Food prices fell by 3.3%, while non-food prices decreased by 0.1% [4][5] - The average CPI for January and February was down 0.1% compared to the same period last year [5] - Month-on-month, the CPI fell by 0.2% in February, with urban areas down 0.2% and rural areas down 0.1% [5] - The price of food and tobacco decreased by 1.9% year-on-year, contributing approximately 0.54 percentage points to the CPI decline [6] - Among food items, fresh vegetable prices dropped by 12.6%, impacting the CPI by about 0.31 percentage points [6]