感知中国活力，从一组最新出炉的经济数据看成就。 中国电子信息产业发展研究院工业经济研究所副所长 韩建飞：产业转型升级的内生动能不断增强，成为全年经济社会预期目标顺利实现的重要支撑。 我国工业经济平稳运行 新动能持续领跑 今年前11个月，我国工业经济保持平稳运行、结构持续优化的良好态势，规模以上工业增加值同比增长6.0%。其中，重点行业表现亮眼，支撑作用持续凸 显。11月份，41个大类行业中有30个实现同比增长，行业增长面超七成。其中，汽车制造业、铁路船舶航空航天和其他运输设备制造业均增长11.9%，计算 机通信和其他电子设备制造业增长9.2%。 此外，新动能成长势头强劲，成为增长核心引擎。前11个月，规模以上高技术制造业增加值同比增长9.2%，11月当月增速达8.4%。分产品看，3D打印设备 产量同比增长100.5%，工业机器人增长20.6%，新能源汽车产量达184.1万辆、同比增长17.0%。 我国快递业务量达1807.4亿件 国家邮政局发布的数据显示，前11个月，全国快递业务量达1807.4亿件，同比增长14.9%。今年以来，消费品以旧换新政策持续加力、扩围实施，带动更新 换代需求有效释放，推动快递业务量 ...

Economic Overview - In November, industrial, service, consumption, and investment data showed a downward trend due to high base effects from the previous year, but exports saw a year-on-year increase, indicating positive price signals [1][10] - The economy grew by 5.2% in the first three quarters, and macro policies are expected to strengthen, achieving a growth target of around 5% for the year [1][15] Industrial and Service Sector Performance - In November, the industrial added value increased by 4.8% year-on-year, while the cumulative growth from January to November was 6.0%, a slight decrease of 0.1 percentage points from the previous period [2][12] - The service production index rose by 4.2% year-on-year in November, with a cumulative growth of 5.6% from January to November, also down by 0.1 percentage points [2][12] - Emerging industries and modern services are growing rapidly, with significant increases in sectors like electronic materials and integrated circuits, which grew by 22.9% and 24.6% respectively [2][12] Consumption Trends - Retail sales of consumer goods increased by 1.3% year-on-year in November, with a cumulative growth of 4.0% from January to November, surpassing last year's annual growth rate [2][12] - The service retail sector saw a year-on-year growth of 5.4% from January to November, indicating strong potential for service consumption [3][13] - The "Double Eleven" shopping festival had a preemptive effect on consumption, leading to a temporary slowdown in November's growth [3][13] Investment Insights - Fixed asset investment (excluding rural households) decreased by 2.6% year-on-year from January to November, while investment excluding real estate development grew by 0.8% [3][13] - Infrastructure investment fell by 1.1%, while manufacturing investment increased by 1.9%, and real estate development investment dropped by 15.9% [3][13] - High growth was observed in manufacturing sectors such as railways, ships, aerospace, and new energy vehicles, indicating a strengthening of new productive forces [3][13] Export Performance - In November, total goods imports and exports increased by 4.1% year-on-year, with exports growing by 5.7% and imports by 1.7% [4][14] - From January to November, total goods imports and exports rose by 3.6%, with exports increasing by 6.2% and imports by 0.2% [4][14] Policy Outlook - The Central Economic Work Conference signaled a proactive approach to boost consumption and stabilize investment, with plans for a special action to enhance consumption in 2026 [11][17] - The National Development and Reform Work Conference emphasized the need for policy coordination to promote investment recovery and ensure a good start for the 14th Five-Year Plan [11][17] - There is a focus on expanding domestic demand and increasing effective investment, with expectations for interest rate cuts and fiscal policy to significantly support consumption and infrastructure investment in early next year [9][18]

投资潜力和空间依然巨大。 今年前11个月，全国固定资产投资（不含农户）444035亿元，同比下降2.6%，降幅比上月扩大0.9个百 分点。其中，民间固定资产投资同比下降5.3%。 国家统计局新闻发言人付凌晖15日在国新办发布会上表示，由于房地产投资下降等多重因素影响，投资 增速下降，但扣除房地产开发投资后的项目投资保持增长。 付凌晖强调，尽管投资增速下降，但在扩大内需政策和产业升级发展等带动下，重点领域投资保持增 长，继续为经济中长期发展打下基础。 分三大领域来看，1-11月，基础设施投资（不含电力、热力、燃气及水生产和供应业）同比下降1.1%， 降幅较前10个月扩大1.0个百分点。全国房地产开发投资同比下滑15.9%，降幅较1-10月扩大1.2个百分 点。制造业投资同比增长1.9%，较前值回落0.8个百分点。 关于制造业投资增速下行，王青认为有三方面原因：首先，我国制造业投资以民营企业为主。今年外部 经营环境波动加剧，短期内国内制造业投资信心受到一定冲击。其次，7月开始实施"反内卷"，一些产 能过剩行业的投资受到约束。此外，去年下半年实施大规模设备更新，导致今年该项政策对制造业投资 的同比拉动作用减弱。 虽 ...

Core Viewpoint - The article discusses the tax and fee incentives provided by the Chinese government to support the development of the manufacturing industry, highlighting policies related to accelerated depreciation for fixed assets in various sectors [2][12]. Summary by Sections Enjoyment Subjects - Enterprises in all manufacturing sectors, as well as those in information transmission, software, and information technology services, are eligible for the accelerated depreciation policy [2][3]. Enjoyment Content - Six specific industries, including biopharmaceuticals and aerospace, can shorten depreciation periods or adopt accelerated depreciation methods for fixed assets purchased after January 1, 2014 [3]. - Key industries such as light industry, textiles, machinery, and automobiles can also choose to shorten depreciation periods or use accelerated depreciation for fixed assets purchased after January 1, 2015 [3]. - As of January 1, 2019, the scope of industries eligible for accelerated depreciation has been expanded to include all manufacturing sectors [3]. Enjoyment Conditions - The minimum depreciation period for shortened depreciation cannot be less than 60% of the standard depreciation period as per the Corporate Income Tax Law [4][6]. - Enterprises can choose between the double declining balance method or the sum-of-the-years-digits method for accelerated depreciation [4][6]. Enjoyment Time - The incentives have been in effect since January 1, 2014, and will continue to be available [5]. Application Timing - Enterprises must submit monthly, quarterly, and annual corporate income tax prepayment and settlement declarations to enjoy the benefits [7][17]. Required Documentation - Enterprises must retain documentation proving their eligibility, including invoices for fixed asset purchases and records of tax and accounting differences [8][17]. Enjoyment Methods - The application for benefits can be processed through online platforms such as the electronic tax bureau or in-person at tax service halls [9][18]. Policy Basis - The policies are based on several official notifications and regulations issued by the Ministry of Finance and the State Administration of Taxation, including notices from 2014, 2015, and 2019 [12][19].

Core Insights - The Chinese economy shows a steady growth in new momentum and high-quality development, with significant increases in high-tech manufacturing and digital product manufacturing value added in the first three quarters of the year [1][2]. Group 1: High-Tech Manufacturing Growth - The value added of high-tech manufacturing increased by 9.6% year-on-year, with specific sectors like integrated circuit manufacturing and electronic materials growing by 22.4% and 20.5% respectively [2]. - The production of industrial robots, 3D printing equipment, and industrial control computers saw remarkable growth rates of 29.8%, 40.5%, and 98% respectively [2]. Group 2: Traditional Industry Transformation - Traditional industries are actively integrating with "Internet+", "AI+", and "Digital+" initiatives, leading to value added growth of 8.1% in chemical raw materials, 7.6% in chemical fibers, and 6.7% in agricultural products [3]. - The production of high-performance chemical fibers and bio-based chemical fibers increased by 34% and 20.2% respectively, indicating a significant transformation in traditional sectors [3]. Group 3: Investment in Emerging Fields - Significant breakthroughs in technology have been achieved, with double-digit growth in investment in automotive manufacturing, rail, shipping, and aerospace sectors [4]. - The value added of digital product manufacturing rose by 9.7%, while the information transmission and software services sector grew by 11.2% [4]. Group 4: Green Development Initiatives - The manufacturing value added in lithium-ion battery production, shipbuilding, and electric motor manufacturing increased by 29.8%, 22.9%, and 17.1% respectively [7]. - The production of new energy products such as electric vehicles and lithium-ion batteries saw substantial growth, with increases of 29.7% and 46.9% respectively [7].

Economic Overview - Shanghai's GDP for the first three quarters reached 40,721.17 billion yuan, with a year-on-year growth of 5.5% at constant prices [1] Industrial Production - Industrial added value in Shanghai grew by 5.2% year-on-year, with total industrial output value increasing by 5.7% [2] - Key manufacturing sectors showed significant growth: railway, shipbuilding, aerospace, and other transport equipment increased by 15.9%, electrical machinery and equipment by 14.3%, and computer and communication equipment by 12.1% [2] - The three leading manufacturing sectors (AI, integrated circuits, and biomedicine) saw production value growth of 12.8%, 11.3%, and 3.6% respectively [2] - Strategic emerging industries in manufacturing grew by 7.3%, with new energy industries up by 19.6% [2] Tertiary Sector Growth - The tertiary sector's added value increased by 5.9%, with information transmission, software, and IT services growing by 15.5% [3] - The financial sector's added value reached 6,965.27 billion yuan, marking a 9.8% increase [3] Fixed Asset Investment - Fixed asset investment in Shanghai rose by 6.0%, with industrial investment surging by 20.3% [4] - Urban infrastructure investment grew by 11.7%, while real estate development investment saw a modest increase of 2.2% [4] Consumer Market - Retail sales of consumer goods totaled 12,302.77 billion yuan, reflecting a year-on-year growth of 4.3% [5] - Categories such as sports and entertainment goods, furniture, and home appliances experienced significant retail growth, with increases of 27.7%, 22.1%, and 28.2% respectively [5] Financial Market Activity - Major financial markets in Shanghai saw a transaction volume increase of 12.7%, with the Shanghai Stock Exchange's securities transaction volume up by 38.4% [6] - By the end of September, the balance of deposits in financial institutions reached 23.84 trillion yuan, a year-on-year increase of 8.4% [6] Price Stability and Income Growth - Consumer prices remained stable, with the CPI unchanged year-on-year [7] - The average disposable income for residents reached 69,220 yuan, reflecting a growth of 4.3% [7]

Economic Overview - The GDP growth for the first three quarters is 5.2%, with a third-quarter growth of 4.8%, indicating a stable economic performance [3][4][9] - The economic increment reached 39,679 billion, which is an increase of 1,368 billion year-on-year [4] - The average urban unemployment rate for the first three quarters is 5.2%, remaining stable compared to the first half of the year [4][10] Consumption and Investment - Final consumption expenditure contributed 53.5% to economic growth, an increase of 9.0 percentage points compared to the previous year [6][7] - Investment in equipment and tools increased by 14%, contributing 2.0 percentage points to overall investment growth [7][8] Industry Performance - The added value of the lithium-ion battery manufacturing industry grew by 29.8%, while shipbuilding and related equipment manufacturing increased by 22.9%, and motor manufacturing rose by 17.1% [8] - The proportion of added value from equipment manufacturing and high-tech manufacturing reached 35.9% and 16.7% respectively [5] Trade and International Relations - The total import and export volume increased by 6.0% year-on-year, with foreign exchange reserves maintaining above 3.3 trillion USD [10] - The resilience of foreign trade is highlighted by the historical high in goods import and export scale [4][10] Policy Impact - Macro policies have been effectively implemented to stabilize the economy and support long-term development [6][11] - The government has issued 300 billion yuan in special bonds to stimulate consumer demand through trade-in programs [6][7]

10月20日，中国经济三季报揭晓。国家统计局数据显示，初步核算，前三季度国内生产总值 (GDP)1015036亿元，按不变价格计算，同比增长5.2%。 今年以来，我国经济发展历程很不平凡。面对外部压力加大和内部困难较多的复杂局面，以习近平同志 为核心的党中央总揽全局、科学决策，各地区各部门沉着应对、狠抓落实，我国经济发展顶住压力，取 得了难能可贵的发展成绩，经济运行持续保持总体平稳、稳中有进发展态势。 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，但我国经济"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。 "稳"的格局没有变 经济增长、就业、价格和国际收支，是观察经济运行最为重要的宏观指标。 从经济增长看，前三季度，GDP同比增长5.2%，比上年全年和上年同期分别加快0.2个、0.4个百分点； 经济增量达到39679亿元，同比多增1368亿元。 从就业物价看，前三季度，全国城镇调查失业率平均值为5.2%，与上半年持平；居民消费价格指数 (CPI)同比略降0.1%，但扣除食品和能源的核心CPI上涨0.6%，其中9月份上涨1%，涨幅连续5个月扩 大。 ...

Economic Overview - The GDP growth for the first three quarters is 5.2%, with a 4.8% growth in the third quarter, indicating a stable economic performance [4][10] - The economic increment reached ¥39,679 billion, which is an increase of ¥1,368 billion year-on-year [5] - The average urban unemployment rate for the first three quarters is 5.2%, remaining stable compared to the first half of the year [5][10] Consumption and Investment - Final consumption expenditure contributed 53.5% to economic growth, an increase of 9.0 percentage points compared to the previous year [7][8] - Investment in equipment and tools increased by 14%, contributing 2.0 percentage points to overall investment growth [7][8] - The retail sales of household appliances and audio-visual equipment, cultural office supplies, furniture, and communication equipment all maintained double-digit growth [8] Industry Performance - The added value of the lithium-ion battery manufacturing industry grew by 29.8%, while shipbuilding and related equipment manufacturing increased by 22.9% [8] - The high-tech manufacturing sector's added value accounted for 16.7% of the total industrial added value, indicating a shift towards high-quality development [6][11] - The production of new energy vehicles and electric bicycles saw significant increases of 29.7% and 27.1%, respectively [8] Trade and International Relations - The total import and export volume increased by 6.0% year-on-year, showcasing strong resilience in foreign trade [11] - Foreign exchange reserves remained above $3.3 trillion, with the RMB exchange rate showing stability [5][11] Policy Impact - The implementation of macroeconomic policies has effectively supported current economic stability and long-term growth potential [7][12] - The government has allocated ¥300 billion in special long-term bonds to stimulate consumer demand through trade-in programs [7][8] - The manufacturing purchasing managers' index (PMI) has shown signs of recovery, indicating improved market conditions [9][11]

Group 1 - The core viewpoint of the article emphasizes that China's economy has shown resilience and steady progress in 2023, supported by proactive macroeconomic policies and effective implementation of various initiatives aimed at expanding domestic demand and revitalizing the capital market [1][2][3][4] Group 2 - The release of consumption potential is being facilitated through the issuance of 300 billion yuan in special long-term bonds to support consumer goods replacement, contributing to a 53.5% growth in final consumption expenditure's contribution to economic growth, an increase of 9.0 percentage points from the previous year [2] - The optimization and upgrading of industries are being promoted through a combination of fiscal and financial policies, resulting in a 14.0% year-on-year increase in investment in equipment and tools, which has significantly driven overall investment growth [2] - New growth drivers are steadily emerging, with significant increases in the value added of industries such as lithium-ion battery manufacturing (29.8%), shipbuilding (22.9%), and electric motor manufacturing (17.1%) in the first three quarters [3] - The orderly flow of the economic cycle is being enhanced by focusing on expanding domestic demand and improving market competition, leading to a 106.8% year-on-year increase in stock trading volume in the Shanghai and Shenzhen markets [4]