Macroeconomic Policy Regulation Is Expected To Accelerate The Improvement Of Economic Operation

Recently, the National Bureau of statistics held a press conference. The spokesman of the National Bureau of statistics and the director of the Department of comprehensive statistics of the national economy said that since the beginning of this year, it had been impacted by the epidemic, which had some adverse effects on the operation of the national economy in April. In April, the growth rate of added value of industries above designated size decreased by 2.9% year-on-year, the production index of service industry decreased by 6.1%, and the total retail sales of consumer goods decreased by 11.1%.

On the whole, these are short-term changes caused by the impact of the epidemic, which are both periodic and external. The fundamentals of China's economic stability and long-term improvement have not changed, the factors supporting high-quality development have not changed, and the characteristics of strong resilience, great potential and wide space have not changed. With the support of policies and measures to effectively coordinate the prevention and control of epidemic situation and economic and social development, China's economy can overcome the impact of the epidemic, gradually stabilize and recover, and maintain stable and healthy development.

　　 1、 China's economic volume is considerable, and it has strong resistance to risks and shocks. In 2021, China's total economic volume has reached 114 trillion yuan, ranking the second in the world in terms of total scale. The advantages of super market scale are obvious, the industrial system is complete and the supporting capacity is strong, which provides a strong guarantee for resisting various risks and challenges. In April this year, some regions were seriously affected by the epidemic, but from a national perspective, the total scale of major production demand indicators is still considerable. In April, the total retail sales of consumer goods reached 2.9 trillion yuan, the total import and export volume was 3.2 trillion yuan, the steel production was 110 million tons, and the raw coal production was 360 million tons. From the cumulative point of view, the main indicators of the country are still growing. From January to April, the added value of industries above designated size increased by 4% year on year, and the investment in fixed assets and the total import and export volume increased by 6.8% and 7.9% respectively.

　　 2、 The basic industry has strong support and strong supply guarantee ability. Under the impact of the epidemic, China's basic industries such as food and energy maintained growth, laying a solid foundation for fighting the epidemic and promoting economic recovery. From the agricultural point of view, with the increase of agricultural production support and field management, the current situation of winter wheat seedlings continues to improve, and the spring sowing preparation is progressing smoothly, faster than the same period last year. In terms of energy, the output of raw coal, crude oil and natural gas increased by 10.7%, 4% and 4.7% respectively on a year-on-year basis in April. From the perspective of basic industry, the main industries continued to grow and the supply remained stable. In April, the added value of ferrous and nonferrous metal mining and dressing industry above designated scale increased by 3.8% and 8.9% respectively year-on-year.

　　 3、 The market is effective in ensuring supply and price stability, and the overall social situation is stable. The supply of materials related to the residents' basic life is sufficient, and the market price is basically stable, maintaining the normal living order of residents and ensuring the overall social stability. The production and sales of basic commodities continued to grow. In April, the added value of food manufacturing industry above Designated Size, alcoholic beverage manufacturing industry and refined tea manufacturing industry increased by 0.1% and 0.5% respectively year-on-year. The retail sales of grain, oil, food and beverage commodities of units above the quota increased by 10% and 6% respectively. In April, consumer prices rose by 2.1% year-on-year, maintaining a moderate rise; Excluding food and energy, the core CPI rose 0.9% year-on-year, down 0.2% from the previous month.

　　 4、 The situation of transformation and upgrading remains unchanged, and the new momentum continues to grow. Under the impact of the epidemic situation, the resilience of new industries, new business forms and new models has been highlighted, and the development of new industries continues to be better than that of traditional industries, and the transformation trend of digitalization, informatization and intelligence continues. In April, the added value of high-tech manufacturing industry above designated size increased by 4% year-on-year, better than that of all industries. From January to April, investment in high-tech industries increased by 22% year on year, better than the total investment. The digital industry has developed rapidly. In April, the added value of computer, communication and other electronic equipment manufacturing industry increased by 4.9% year-on-year, and the production index of information transmission software and information technology service industry increased by 10.3%. From January to April, online retail sales of physical goods increased by 5.2% year-on-year. In April, the output of new energy vehicles, mobile communication base station equipment and solar cells increased by 42.2%, 21.6% and 20.8% respectively.

　　 5、 Macro policy adjustment has been strengthened, and the economic operation is expected to be improved. Since the beginning of this year, the new combined tax and fee support policy has been effectively implemented, and financial support for the real economy has been strengthened, which has played a positive role in alleviating the difficulties of enterprises and stabilizing the economy. According to the recent rapid survey by the National Bureau of statistics, after the implementation of large-scale tax rebate, 90% of the enterprises that have obtained the incremental VAT rebate think that the cash flow has been improved, and 96.2% of the enterprises are satisfied with the policy; Among the small and micro enterprises that have obtained the stock allowance tax rebate, 84.5% of the enterprises think that the cash flow has been improved, and 94.6% of the enterprises are satisfied with the policy. In view of the increasing complexity, severity and uncertainty of China's economic development environment, the CPC Central Committee has recently put forward clear requirements for the overall planning of epidemic prevention and control and economic and social development. All regions and departments have actively implemented various policies and measures, and the effects have been constantly showing.

At present, the epidemic situation in Jilin, Shanghai and other places has been effectively controlled, and the resumption of work and production has been carried out in an orderly manner. A series of policies and measures, such as expanding domestic demand, helping enterprises to relieve difficulties, ensuring supply and price stability, and ensuring people's livelihood, are working well, Economic performance is expected to improve in May 。

(source: China Cotton Association)