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According to the website of the National Bureau of Statistics on December 16th, in November, under the strong leadership of the Party Central Committee with Comrade Xi Jinping as the core, various regions and departments deeply implemented the decisions and deployments of the Party Central Committee and the State Council, adhered to the general tone of seeking progress while maintaining stability, fully and accurately implemented the new development concept, accelerated the construction of a new development pattern, solidly promoted high-quality development, and the combination effect of macro policies continued to emerge. The industrial service industry grew rapidly, employment and prices remained generally stable, social expectations were effectively boosted, new quality productivity steadily developed, and the national economy continued to rebound since September.
1、 The annual grain harvest has reached a new level, and the output has reached a new level
The total national grain output for the year was 141.3 billion catties, an increase of 22.18 billion catties or 1.6% from the previous year, reaching a new level of 1.4 trillion catties for the first time. Among them, the autumn grain production was 1056.9 billion kilograms, an increase of 15.03 billion kilograms or 1.4% compared to the previous year. The national grain production was 1304.6 billion catties, an increase of 21.71 billion catties or 1.7% compared to the previous year. The planting area of grain has increased and the yield per unit area has improved. The national grain sowing area was 1.79 billion mu, an increase of 5.258 million mu or 0.3% compared to the previous year; The grain yield per mu is 394.7 kilograms, an increase of 5.1 kilograms per mu, or 1.3%.
2、 Industrial growth is accelerating, with equipment manufacturing and high-tech manufacturing growing rapidly
In November, the added value of industrial enterprises above designated size in China increased by 5.4% year-on-year, accelerating by 0.1 percentage points compared to the previous month; A month on month increase of 0.46%. Looking at the three major categories, the added value of the mining industry increased by 4.2% year-on-year, the manufacturing industry increased by 6.0%, and the production and supply of electricity, heat, gas, and water increased by 1.6%. The added value of equipment manufacturing industry increased by 7.6% year-on-year, 1.0 percentage point faster than last month; The added value of high-tech manufacturing increased by 7.8%, which is 2.4 percentage points faster than the added value of all industries above designated size. In terms of economic types, the added value of state-owned holding enterprises increased by 3.9% year-on-year; Joint stock enterprises increased by 6.0%, while foreign and Hong Kong, Macao, and Taiwan invested enterprises increased by 3.4%; Private enterprises grew by 4.5%. By product, the production of new energy vehicles, industrial robots, and integrated circuit products increased by 51.1%, 29.3%, and 8.7% year-on-year, respectively. From January to November, the added value of industrial enterprises above designated size in China increased by 5.8% year-on-year. In November, the Purchasing Managers' Index for the manufacturing industry was 50.3%, an increase of 0.2 percentage points from the previous month; The expected index of enterprise production and operation activities is 54.7%, an increase of 0.7 percentage points. From January to October, industrial enterprises above designated size in China achieved a total profit of 5868 billion yuan, a year-on-year decrease of 4.3%.
3、 The service industry is growing rapidly, and the modern service industry is developing well
In November, the national service industry production index increased by 6.1% year-on-year. By industry, the production index of information transmission, software and information technology services, leasing and business services, and finance industries increased by 9.3%, 9.3%, and 8.8% year-on-year, respectively, which were 3.2, 3.2, and 2.7 percentage points faster than the production index of the service industry; The production index of the real estate industry, transportation, warehousing, and postal industry increased by 2.9% and 6.0% respectively, accelerating by 2.1 and 1.3 percentage points compared to the previous month. From January to November, the national service industry production index increased by 5.1% year-on-year. From January to October, the operating income of service industry enterprises above designated size increased by 7.4% year-on-year. In November, the service industry business activity index was 50.1%, unchanged from the previous month; The expected index of business activities in the service industry is 57.3%, an increase of 1.1 percentage points from the previous month. Among them, the business activity index of telecommunications, radio and television and satellite transmission services, Internet software and information technology services, monetary and financial services, capital market services, insurance and other industries is in a high boom zone of more than 55.0%.
4、 Market sales continue to increase, with good sales of trade in related products
In November, the total retail sales of consumer goods reached 4376.3 billion yuan, a year-on-year increase of 3.0%; The month on month growth was 0.16%. According to the location of the operating units, the retail sales of urban consumer goods reached 3.7596 trillion yuan, a year-on-year increase of 2.9%; The retail sales of consumer goods in rural areas reached 616.7 billion yuan, an increase of 3.2%. By consumption type, the retail sales of goods reached 3796.1 billion yuan, an increase of 2.8%; The catering revenue was 580.2 billion yuan, an increase of 4.0%. The policy of exchanging old for new consumer goods continues to be effective, with retail sales of household appliances and audiovisual equipment, furniture, automobiles, and construction and decoration materials for units above designated size increasing by 22.2%, 10.5%, 6.6%, and 2.9%, respectively. From January to November, the total retail sales of consumer goods reached 44272.3 billion yuan, a year-on-year increase of 3.5%. The national online retail sales reached 1.40308 trillion yuan, a year-on-year increase of 7.4%. Among them, the online retail sales of physical goods reached 1.18059 trillion yuan, an increase of 6.8%, accounting for 26.7% of the total retail sales of consumer goods in society. From January to November, the service retail sales increased by 6.4% year-on-year.
5、 Fixed assets investment grew steadily, and investment in manufacturing and high-tech industries grew rapidly
From January to November, the national fixed assets investment (excluding farmers) was 46583.9 billion yuan, up 3.3% year on year; Excluding the investment in real estate development, the national fixed assets investment increased by 7.4%. By sector, infrastructure investment increased by 4.2% year-on-year, manufacturing investment increased by 9.3%, and real estate development investment decreased by 10.4%. The sales area of newly-built commercial housing in China was 861.18 million square meters, a year-on-year decrease of 14.3%, which narrowed by 1.5 percentage points compared to the period from January to October; The sales revenue of newly-built commercial housing reached 8512.5 billion yuan, a decrease of 19.2%, narrowing the decline by 1.7 percentage points. Looking at different industries, investment in the primary industry increased by 2.4% year-on-year, investment in the secondary industry increased by 12.0%, and investment in the tertiary industry decreased by 1.0%. Private investment decreased by 0.4% year-on-year; Excluding real estate development investment, private investment increased by 6.2%. Investment in high-tech industries increased by 8.8% year-on-year, with investment in high-tech manufacturing and high-tech service industries growing by 8.2% and 10.2% respectively. In the high-tech manufacturing industry, investment in aviation, spacecraft and equipment manufacturing, and electronic and communication equipment manufacturing increased by 35.4% and 8.8% respectively; In the high-tech service industry, investment in professional technical services and e-commerce services increased by 27.9% and 12.5% respectively. In November, fixed assets investment (excluding farmers) grew 0.10% month on month.
6、 The import and export of goods continue to grow, and the trade structure continues to optimize
In November, the total import and export volume of goods was 3.7506 trillion yuan, a year-on-year increase of 1.2%. Among them, exports amounted to 2221.7 billion yuan, an increase of 5.8%; Imports amounted to 1528.9 billion yuan, a decrease of 4.7%. From January to November, the total import and export volume of goods was 397861 billion yuan, a year-on-year increase of 4.9%. Among them, exports amounted to 23038.3 billion yuan, an increase of 6.7%; Imports amounted to 1.67477 trillion yuan, an increase of 2.4%. From January to November, the import and export of general trade increased by 3.7%, accounting for 64.1% of the total import and export volume. The import and export of private enterprises increased by 8.7%, accounting for 55.3% of the total import and export volume, an increase of 2.0 percentage points compared to the same period last year. The export of electromechanical products increased by 8.4%, accounting for 59.5% of the total export value.
7、 The overall employment situation is stable, and the urban surveyed unemployment rate remains the same as last month
From January to November, the average urban survey unemployment rate in China was 5.1%, a decrease of 0.1 percentage points from the same period last year. In November, the national urban survey unemployment rate was 5.0%, unchanged from the previous month. The unemployment rate of local registered residence labor force survey is 5.2%; The unemployment rate of migrant registered residence labor force survey is 4.6%, of which the unemployment rate of migrant agricultural registered residence labor force survey is 4.4%. The surveyed unemployment rate in 31 major cities was 5.0%, unchanged from the previous month. The average weekly working hours of employees in enterprises nationwide are 48.9 hours.
8、 Residential consumer prices have slightly increased year-on-year, while the year-on-year decline in industrial producer prices has narrowed
In November, the national consumer price index (CPI) rose by 0.2% year-on-year; A month on month decrease of 0.6%. By category, food, tobacco, and alcohol prices increased by 0.9% year-on-year, clothing prices increased by 1.1%, housing prices decreased by 0.1%, daily necessities and services prices decreased by 0.3%, transportation and communication prices decreased by 3.6%, education, culture, and entertainment prices increased by 1.0%, healthcare prices increased by 1.1%, and other goods and services prices increased by 5.2%. In terms of food, tobacco, and alcohol prices, grain prices decreased by 1.1%, fresh fruit prices decreased by 0.3%, fresh vegetable prices increased by 10.0%, and pork prices increased by 13.7%. After deducting food and energy prices, the core CPI increased by 0.3% year-on-year, an increase of 0.1 percentage points from the previous month. From January to November, the national consumer price index rose by 0.3% year-on-year.
In November, the ex factory prices of industrial producers in China decreased by 2.5% year-on-year, narrowing the decline by 0.4 percentage points compared to the previous month; A month on month increase of 0.1%. The purchasing price of industrial producers nationwide decreased by 2.5% year-on-year, narrowing the decline by 0.2 percentage points; A month on month decrease of 0.1%. From January to November, the ex factory prices and purchase prices of industrial producers in China decreased by 2.1% and 2.2% respectively year-on-year.
Overall, in November, the combined effect of stock policies and incremental policies continued to be released, and the overall operation of the national economy remained stable and made progress, with further positive changes. But it should also be noted that the external environment is more complex, domestic demand is insufficient, some enterprises are facing difficulties in production and operation, and the foundation for sustained economic recovery and improvement still needs to be consolidated. In the next stage, we must adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the spirit of the Central Economic Work Conference, adhere to the general tone of seeking progress while maintaining stability, fully and accurately implement the new development concept, accelerate the construction of a new development pattern, solidly promote high-quality development, further comprehensively deepen reforms, expand high-level opening up to the outside world, expand domestic demand, stabilize expectations, stimulate vitality, promote sustained economic recovery and improvement, and ensure the smooth achievement of the main goals and tasks of economic and social development throughout the year.