Economic Growth - In May, the national industrial added value above designated size increased by 5.8% year-on-year, with equipment manufacturing and high-tech manufacturing growing at 9.0% and 8.6% respectively, outpacing the overall industrial growth by 3.2 and 2.8 percentage points [1][12] - The service industry production index rose by 6.2% year-on-year in May, accelerating by 0.2 percentage points compared to the previous month [2][14] Consumer Market - The total retail sales of consumer goods reached 41,326 billion yuan in May, marking a 6.4% year-on-year increase, which is 1.3 percentage points higher than the previous month [3][16] - Sales of household appliances and audio-visual equipment, communication equipment, cultural and office supplies, and furniture saw year-on-year growth ranging from 25.6% to 53% [11][16] Investment Trends - From January to May, fixed asset investment (excluding rural households) totaled 191,947 billion yuan, with a year-on-year growth of 3.7%, particularly in high-tech industries such as information services and aerospace manufacturing [4][16] - Investment in equipment and tools increased by 17.3% in the first five months, contributing 63.6% to overall investment growth [11] Employment and Market Activity - The employment situation remained stable, with a decrease in the urban survey unemployment rate [6] - Macro policies have effectively enhanced market activity, leading to increased passenger turnover and a rise in domestic tourism during the "May Day" holiday [10] Industry Performance - The production of lithium-ion batteries, shipbuilding, and boiler manufacturing industries achieved double-digit growth in May, driven by large-scale equipment updates [8] - The production of new energy vehicles, tablets, and electric bicycles saw significant increases of 31.7%, 30.9%, and 20.5% respectively [8][12]

Core Viewpoint - The article highlights the stable growth of China's economy in May, driven by industrial production, service sector expansion, and consumer spending, while emphasizing the need for continued efforts to enhance domestic demand and economic resilience [1][10]. Industrial Production - In May, the industrial added value of large-scale enterprises increased by 5.8% year-on-year and 0.61% month-on-month [2] - The manufacturing sector grew by 6.2%, with equipment manufacturing and high-tech manufacturing increasing by 9.0% and 8.6% respectively, outpacing overall industrial growth [2] - The profit of large-scale industrial enterprises reached 21,170 billion yuan from January to April, showing a year-on-year increase of 1.4% [2] Service Sector - The service sector production index rose by 6.2% year-on-year in May, with significant growth in information transmission, software, and IT services [3] - The business activity index for the service sector was at 50.2%, indicating expansion, while the business activity expectation index was at 56.5% [3] Consumer Spending - Retail sales of consumer goods totaled 41,326 billion yuan in May, marking a year-on-year increase of 6.4% [4] - Online retail sales reached 60,402 billion yuan, growing by 8.5% year-on-year, with physical goods online retail accounting for 24.5% of total retail sales [4] Fixed Asset Investment - From January to May, fixed asset investment (excluding rural households) was 191,947 billion yuan, up 3.7% year-on-year, with manufacturing investment growing by 8.5% [5] - Infrastructure investment increased by 5.6%, while real estate development investment saw a decline of 10.7% [5] Trade Performance - In May, the total value of goods imports and exports was 38,098 billion yuan, with exports growing by 6.3% and imports declining by 2.1% [6][7] - From January to May, the total trade value was 179,449 billion yuan, with a year-on-year growth of 2.5% [6] Employment Situation - The urban survey unemployment rate was 5.0% in May, showing a slight decrease from the previous month [8] - The average weekly working hours for employees were reported at 48.5 hours [8] Price Trends - The Consumer Price Index (CPI) fell by 0.1% year-on-year in May, with core CPI rising by 0.6% [9] - The Producer Price Index (PPI) decreased by 3.3% year-on-year in May [10]