The economic performance report card of 29 provinces in the first quarter was released, and the GDP growth rate of eight places exceeded 6%_Economy_Macro Channel Home_Financial Network-CAIJING.COM.CN

Reporter Meng Ke

Economic data for the first quarter of 2024 from various regions are being released one after another. According to incomplete statistics from a reporter from Securities Daily, as of now, 29 provinces (autonomous regions and municipalities) have announced their economic “report cards” for the first quarter, of which 16 provinces’ GDP growth exceeded the national average (5.2%). Specifically, Jilin’s GDP growth rate reached 6.5%, temporarily leading the country; followed closely by Jiangsu and Chongqing, both at 6.2%. There are five provinces with growth rates above 6%: Shandong, Zhejiang, Sichuan, Hubei, and Beijing.

Liu Xiangdong, deputy director of the Economic Research Department of the China Center for International Economic Exchanges, told a reporter from Securities Daily that overall, economic growth in various regions has continued to recover, demonstrating the resilience of development. In particular, major economic provinces such as Jiangsu, Shandong, and Zhejiang have played a leading role. role in leading China’s economy to continue to rebound and improve.

Liu Xiangdong, chief analyst of Dongyuan Investment, said in an interview with a reporter from Securities Daily that the economic growth rate of various regions in the first quarter showed a diversified pattern. Regions that are higher than the national average show strong vitality and resilience in economic development, which is mainly related to factors such as industrial structure optimization, innovation drive, and policy support in these regions.

“In addition to the impact of the low base in the early stage, Jilin’s economic growth has shown relatively high growth, which is mainly reflected in two aspects. First, the industrial economy has grown rapidly, especially the industrial production capacity of automobiles, rail transit, etc. has been fully released; second, the service economy China Tourism Supply and demand in the service industry are booming,” Liu Xiangdong said.

In terms of economic aggregate, Guangdong, Jiangsu and Shandong rank in the top three, with the GDP of Guangdong and Jiangsu each exceeding 3 trillion yuan.

According to Liu Xiangdong, the supporting factors for economic growth in the first quarter mainly come from the continued recovery of the industrial and service industries. The information industry, manufacturing, catering and accommodation industries have grown rapidly. At the same time, foreign trade, investment and consumption have developed in parallel. A sustained improvement trend has emerged, which strongly supports the continued improvement of the economy.

It is worth noting that in the first quarter, new driving forces in various places were active and strong. Taking the Yangtze River Delta as an example, in Anhui’s industrial economy in the first quarter, the two most eye-catching key drivers were the electronic information and automobile industries, which grew by 36.5% and 12.5% ​​respectively. In the first quarter, Shanghai’s total fixed asset investment increased by 9.2% year-on-year, maintaining a relatively high growth rate. Among the industrial investments, manufacturing investment increased by 13.4%, driven by high-end chip research and development and semiconductor materials and other manufacturing projects.

Liu Xiangdong said that the improvement of the endogenous growth momentum of the economy was also an important driving force for GDP growth in the first quarter. The rapid growth of service consumption and manufacturing investment reflected the continuous optimization of my country’s economic structure and the continuous upgrading of industries.

Entering the second quarter, there are many “small and long holidays”, and various places are seizing the opportunity to promote consumption. For example, according to the plan, Beijing will seize the opportunity of the “holiday economy” in the second quarter, actively carry out consumption season activities, organize large-scale exhibitions, performances, and events, comprehensively improve the payment acceptance environment for cash, bank cards, mobile payments, etc.; accelerate the planning of tourism foundation facilities to support the development of all-region tourism in ecological conservation areas and improve the quality of outings in Beijing. Jiangsu is working hard to formulate support policies and lists for automobiles, home appliances, and home furnishing replacements, and organize consumption-promoting activities such as sending home appliances to the countryside and cars to the countryside, striving to increase consumption scenarios, gather popularity, and boost the market.

In addition, in the development of new productive forces, various regions are more active in strengthening technological innovation and cultivating new industries. For example, the Shanghai Municipal Government held a second quarter work meeting and proposed that we should establish first and then break, accelerate the empowerment of new technologies, implement manufacturing technological transformation and upgrading projects, optimize the allocation of resource factors, and build traditional industries into an important position for the development of new productivity.

According to Liu Xiangdong, in the second quarter, all localities should continue to take effective measures to expand domestic demand, focus on cultivating new productive forces, promote the transformation and upgrading of traditional industries, and create new hot spots for cultural and tourism consumption, supplemented by active fiscal policies and Reform measures will be taken to create a good entrepreneurship, employment and investment environment and a safe and comfortable consumption environment.

(Editor: Wen Jing)