CCTV:

In the first quarter of this year, China's GDP grew by 5.0% year on year, achieving a good start. How do you view the performance of the main economic indicators since the beginning of this year? And how do you evaluate the current economic situation? What are the highlights? Thank you.

Fu Linghui:

Thank you for your questions. Since the beginning of this year, the international environment has undergone complex changes. In April, the international environment was complex and challenging. The spillover effects of geopolitical conflicts continued to emerge, the global energy market fluctuated significantly, and the recovery of the world economy faced growing difficulties. Amid the complex situation, all regions and departments have adopted comprehensive measures and effectively implemented a more proactive fiscal policy and a moderately loose monetary policy. The national economy has maintained a momentum toward innovation-driven and high-quality development, demonstrating strong resilience and vitality. The main achievements have been as follows:

First, production supply continued to grow. Meeting the people's needs in production and daily life requires the supply of goods and services, and achieving economic development requires sustained production growth. With the support of various policies, production and supply have maintained sustained growth this year, effectively meeting the needs of all sectors. In the industrial sector, from January to April, the value added of industrial enterprises above designated size grew by 5.6% year on year, maintaining relatively rapid growth. Specifically, the equipment manufacturing industry showed strong growth, providing solid support for industrial upgrading and consumption expansion. From January to April, the added value of the equipment manufacturing industry increased by 8.7% year on year, contributing more than 50% to the growth of industries above designated size. From the perspective of the service sector, the Index of Service Production increased by 4.9% year on year from January to April, remaining generally stable. The modern service industry has also developed well. From January to April, the Index of Service Production of information transmission, software and information technology services, as well as rental and business services, increased by 10.9% and 9.3% year on year, respectively, continuing to maintain a good momentum of development.

Second, employment and prices remained generally stable. Employment reflects the utilization of labor in the production of goods and services, while prices reflect the relationship between market supply and demand. From the perspective of employment, the national surveyed urban unemployment rate in April was 5.2%, down 0.2 percentage point from the previous month. The unemployment rate for the 30-59 age group was 4.2%, lower than that of the previous month. The employment situation remained generally stable. In terms of prices, CPI rose 1.2% year on year in April, with the increase expanding by 0.2 percentage point from the previous month, maintaining a moderate upward trend. The core CPI, excluding food and energy, rose by 1.2%, remaining generally stable. Stable employment and prices actually reflect the inherent logic of a stable economy.

Third, development momentum has been upgraded and optimized. The leading role of innovation continues to take effect, digital and green transformation is being promoted in depth, and new drivers of economic development are growing rapidly. High-end manufacturing maintained strong momentum. The added value of high-tech manufacturing enterprises above designated size increased by 12.6% year on year from January to April, continuing to maintain rapid growth. In high-end manufacturing, the added value of industries such as aircraft manufacturing and biopharmaceutical manufacturing increased by 25.7% and 12%, respectively. Emerging industries are gaining momentum. The digital economy is expanding rapidly, and industries such as electronics, information and communication are showing strong growth. The added value of the computer, communication and other electronic equipment manufacturing industry increased by 14% from January to April. New drivers of growth in the service sector continued to strengthen, with operating revenue of strategic emerging service enterprises above designated size increasing by 7.1% in the first quarter. With the rapid development of artificial intelligence, its role in driving industrial development has continued to strengthen. From January to April, the output of robot reducers and industrial robots increased by 73.3% and 25.7%, respectively.

Fourth, resilience and vitality continued to be demonstrated. Amid a turbulent international environment, global industrial and supply chains have come under strain. China has actively expanded its high-level opening up, relying on its complete industrial system and continuously improving product and service quality to promote rapid growth in foreign trade, injecting stability and certainty into the world economy. The total value of imports and exports of goods increased by 14.9% year on year from January to April. From the perspective of major trading partners, from January to April, China's imports and exports of goods to ASEAN, the EU and BRI partner countries all maintained double-digit growth. From the perspective of exports, new competitive advantages in the market are gradually being established, and exports of green products and high-tech products are growing rapidly. From January to April, China's exports of green and low-carbon products such as electric vehicles and wind turbines increased by more than 40%, while exports of high-tech products increased by 27.6%. From the perspective of imports, China's large market is becoming increasingly attractive to the world. From January to April, China's goods imports increased by 20% year on year. Imports from Latin America and Africa increased by 25.1% and 11.2%, respectively.

It should also be noted that in the face of fluctuations in the international energy market, China has actively stepped up efforts to ensure energy supply, implemented temporary price regulation and increased investment in people's livelihoods, thereby ensuring overall stability in domestic production and people's lives, and achieving positive results. These steps fully demonstrate that China's economy has a strong ability to cope with external risks and shocks, continues to move toward innovation- and quality-oriented development, and has achieved new results in high-quality development. Of course, we must also recognize that there are many uncertainties and destabilizing factors in the international environment, the impact of geopolitical conflicts continues to increase, the contradiction between strong supply and weak demand in the domestic market remains prominent, some enterprises are experiencing operational difficulties, and the foundation for sustained and steady economic growth still needs to be consolidated.

In the next stage, we will fully implement the decisions and plans of the CPC Central Committee and the State Council, strengthen the regulation role of macroeconomic policies, continue to expand domestic demand and improve supply, and deepen reform and opening up to further bolster domestic circulation, optimize the dual circulation of domestic and international markets, and foster sustained and sound economic development. Thank you.