The second quarter is regarded as a key window period that affects the economic trend throughout the year. Recently, with the release of the economic "report card" of each province in the first quarter, various regions have seized the critical period and deployed the next stage of key economic work. Among them, vigorously boosting consumer demand, stabilizing the basic foreign trade market, and accelerating industrial transformation and upgrading have become keywords.
At present, 31 provinces (autonomous regions, municipalities) across the country have released the "report card" for the first quarter of this year's economy. Judging from the economic growth rate, the GDP growth rate of 19 places including Tibet, Hubei, Gansu, Anhui, Ningxia in the first quarter was higher than 5.4% of the country. Among them, Tibet is 7.9%, Hubei is 6.3%, Gansu and Anhui are 6.2%, and Ningxia, Zhejiang and Shandong are 6.0%.
In the first quarter, the contribution rate of industry to macroeconomic growth reached 36.3%, and the role of "ballast stone" continued to play. From a local perspective, the industrial economy has also become an important support for stable economic growth in many places in the first quarter, especially the strong momentum of emerging industries.
Hubei Province's GDP achieved the highest growth rate in the past 12 quarters in the first quarter. Among them, the upgrading of traditional industries and the development of high-end, green and intelligent have driven the added value of steel, chemical, agricultural and sideline food processing industries to increase by 16.0%, 18.2% and 9.2% respectively. In the first quarter, Shandong Province's industrial added value above designated size increased by 8.2% year-on-year, 1.7 percentage points higher than the national average. Among them, the added value of high-tech manufacturing increased by 13.3%. New technologies and new products are accelerating, driving the rapid development of high-end manufacturing, with the output of industrial robots and optoelectronic devices increasing by 76.2% and 25.4% respectively.
Although the economy of many provinces was in a stable growth channel in the first quarter, many places also stated that the current problems such as insufficient effective demand and business difficulties are still prominent, the external environment is becoming more complex and severe, and the foundation for the continued recovery and improvement of the economy still needs to be consolidated. It is a key window period that connects the past and the future in the second quarter. Local governments intensively deploy the focus of economic work in the next stage, vigorously boosting consumer demand, stabilizing the basic foreign trade market, and accelerating industrial transformation and upgrading have become keywords.
On April 29, the National Development and Reform Commission issued the second batch of 81 billion yuan of ultra-long-term special treasury bond funds this year, continuing to vigorously support consumer goods for old-for-new. Focusing on promoting consumption and expanding domestic demand, local governments have also introduced targeted measures. According to the "Several Policy Measures to Fight for the Second Quarter to Ensure "Double Over Half"" issued by Henan Province on April 28, Henan Province will carry out consumption promotion activities in the second quarter, formulate subsidy allocation policies for home appliance dismantling and subsidy, and issue cultural and tourism consumption coupons around the May Day holiday.
Recently, Jilin, Guangdong, Shanghai and other places have issued or reviewed the implementation plan for the special action to boost consumption. Among them, the "Implementation Plan for the Special Action to Boost Consumption in Jilin Province" has put forward support policies from increasing residents' income, reducing burdens to improving and cultivating consumption quality. On the basis of making good use of the national ultra-long-term special treasury bond funds within the year, the provincial finance will allocate another 200 million yuan to increase support for the implementation of consumer goods for exchange for new ones. The "Implementation Plan for Special Action to Boost Consumption in Guangdong Province" emphasizes the need to make every effort to explore new consumption growth points, optimize the "buy and refund" service for departure tax refunds, and launch a series of cultural and tourism consumption promotion activities in conjunction with the "May Day" and Dragon Boat Festival holidays.
"Overall, expanding consumption is the main focus of the next step. Focusing on responding to external fluctuations, there is still a lot of room for new policy for durable consumer goods replacement. In addition, some places have introduced optional actions to expand the scope of promoting consumption from durable consumer goods to general consumer goods and service consumption." Wang Qing, chief macro analyst of Oriental Jincheng, said. Ma Hong, a senior researcher at the Chief Industrial Research Institute of Guangkai, said that current domestic demand plays an important supporting role in the development of the national economy. It is expected that in the second quarter, driven by targeted incremental policies, domestic demand contribution will further increase, effectively offsetting external shocks.
Under the external impact, stabilizing the basic foreign trade market has also become the focus of many underground economic stabilization stage. The Guangdong Provincial Government emphasized that it is necessary to do everything possible to stabilize the basic foreign trade, fully support foreign trade enterprises to seize orders, develop intermediate goods trade and service trade, promote the stable development of cross-border e-commerce, promote the connection and integration of domestic and foreign trade standard certification and other systems, and actively promote the conversion of exports to domestic sales; the Zhejiang Provincial Government has deployed more than ten times within a month to stabilize foreign trade and investigate foreign trade enterprises; the main leaders of Fujian Province led a delegation to visit Argentina and other countries to hold a signing ceremony for economic and trade cooperation projects.
In addition, many provinces also emphasize accelerating industrial transformation and upgrading and developing new quality productivity. Liaoning Province recently emphasized at the three-year action plan for the comprehensive revitalization of Liaoning, that in the second quarter, we must focus on five key tasks. Among them, the first thing is to improve the industrial energy level, stabilize the industrial market, take multiple measures to stabilize cars, oil and steel, and effectively control the transformation of new and old kinetic energy. Shanghai pointed out at the second quarter work meeting that we should accelerate the transformation, upgrading and development of key industries, adhere to the basic path of scientific and technological innovation and industrial innovation, and cultivate and develop new quality productivity.
From the national level, the National Development and Reform Commission introduced that it will accelerate the implementation of several measures to stabilize employment and economy, and a number of established policies will also be implemented in the second quarter, and the consistency of policy orientation will be continuously strengthened. "No matter how the international situation changes, we will anchor our development goals, maintain strategic determination, and concentrate on doing our own things well. We are full of confidence in achieving this year's economic and social development goals and tasks." said Zhao Chenxin, deputy director of the National Development and Reform Commission.
