2023-05-02 10:53:00
my country’s 31 provinces, autonomous regions and municipalities have all announced the economic operation data of their provinces in the first quarter. Judging from the data, the economic development of various regions has shown a positive trend of recovery, and the economic operation has achieved a good start. What are the highlights of the economic data in the first quarter? How to interpret the economic “transcript” of various regions? In order to ensure sustained and stable economic growth in the future, where do we need to make efforts? One article to understand.
What are the highlights of the economic data in the first quarter?
The GDP growth rate of 23 provinces exceeded the national average level. From the perspective of GDP growth rate, 23 provinces out of 31 provinces, autonomous regions and municipalities outperformed the national average GDP growth rate of 4.5% in the first quarter. The GDP growth rate of many provinces in the first quarter has exceeded Exceeding their respective annual GDP growth targets set at the beginning of the year. In terms of the total regional GDP, 12 provinces have exceeded 1 trillion, and Guangdong has exceeded 3 trillion.
From the perspective of driving force for economic growth, in the first quarter, the per capita consumption expenditure of residents in 9 provinces including Shanghai, Beijing, Zhejiang, Tianjin, Guangdong, Jiangsu, Fujian, Chongqing, and Hunan exceeded that of the whole country.
In terms of investment, infrastructure investment in water conservancy management, road transportation, and public facilities management all increased by more than 20% year-on-year.
The economic data of the three northeastern provinces are outstanding
Among the major regional sectors, the three northeastern provinces, whose economic growth rates were ranked low in the country before, performed well in the first quarter of this year. In the first quarter, Jilin increased by 8.2%, Heilongjiang increased by 5.1%, and Liaoning increased by 4.7%, all higher than the national average.
The total foreign trade volume of the 4 provinces of Guangdong, Jiangsu, Zhejiang and Shanghai exceeded one trillion yuan
As one of the troikas driving economic growth, the role of foreign trade cannot be underestimated. In the first quarter, the total foreign trade volume of four provinces including Guangdong, Jiangsu, Zhejiang, and Shanghai exceeded one trillion yuan. Among them, Guangdong led the country with an import and export scale of 1.84 trillion yuan, and Jiangsu and Zhejiang were about 1.2 trillion yuan and 1.13 trillion yuan respectively. The total volume of imports and exports ranks second and third.
The growth rate of the central and western regions leads the foreign trade and presents a new pattern
In the first quarter, among the 31 provinces, autonomous regions and municipalities, 24 provinces experienced positive growth in total import and export of goods, and 17 of them outperformed the national average growth rate. Provinces such as Guizhou, Guangxi, Hunan, Xinjiang, Jiangxi, and Hainan experienced rapid growth.
In terms of sub-regions, the performance of the central and western regions is eye-catching. In the first quarter, imports and exports were 1.84 trillion yuan, a year-on-year increase of 12.6%, which was 7.8 percentage points higher than that of the country as a whole. The proportion of the country’s total import and export value increased by 18.6%, and the contribution rate to the national import and export growth reached 45.8%. Among them, exports of automobiles, auto parts, lamps, etc. performed well, increasing by 132.5%, 47.2%, and 49.8% respectively. In the first quarter, Sichuan continued to maintain its position as the largest province in foreign trade in the central and western regions, with a total import and export volume of 234.2 billion yuan. Jiangxi “comes up from behind”. In the first quarter, the total import and export volume approached the 200 billion yuan mark, with a year-on-year growth rate of 44.6%. Driven by strategies such as high-level opening to the outside world and coordinated regional development, my country’s foreign trade is gradually showing a new pattern.
What do you think of the economic “report cards” of various regions in the first quarter?
How to interpret the economic “transcript” of various places? Let’s listen to the interpretation of Sheng Chaoxun, Director of the Strategic Policy Office of the China Academy of Macroeconomic Research.
How to continue to make efforts to stabilize growth in various places after a good start?
Judging from the work reports of local governments, steady growth, expansion of domestic demand, and strong confidence are the key words for local development this year. At the beginning of this year, 31 provinces, autonomous regions and municipalities announced their respective economic growth targets for 2023. Values range from 4% to 9.5%, with more than half of the provinces setting targets above 5.5%. The first-quarter GDP growth rates of several provinces have already exceeded their annual GDP growth targets set at the beginning of the year. In the first quarter, the economic development of various regions showed a positive trend of recovery, and the economic operation achieved a good start.
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