In May, the economic operation steadily entered the second half of the year and conditionally maintained a good growth trend.

On June 14, the spokesperson of the National Bureau of Statistics responded to a reporter’s question on the operation of the national economy in May 2018. A series of economic data such as retail sales of social consumer goods and value-added industries above the designated scale were introduced in May. Now, experts and scholars invited by these data are given detailed explanations.

On June 14, the State Council Information Office held a press conference on the performance of the national economy in May. Mao Shengyong, spokesperson of the National Bureau of Statistics, said at the meeting that the national economy continued to maintain steady and steady development in May. The production demand was basically stable, employment continued to be good, prices rose moderately, and the structure of supply and demand and corporate profits continued to improve. .

Mao Shengyong said that from the data point of view, the specific performance is as follows: First, industrial production is stable, the service industry develops rapidly; second, consumer demand continues to escalate, and manufacturing investment growth is accelerating; Third, the employment situation continues to improve, and consumer prices are stable; Fourth, the growth rate of imports and exports has been accelerating, and the trade surplus has been narrowed. Fifth, the structural reforms on the supply side have advanced in depth and the new momentum has thrived. Sixth, the company’s efficiency has improved and its development is expected to improve.

The specific data show that in May, the industrial added value of the above-scale industries increased by 6.8% year-on-year, and the growth rate decreased by 0.2 percentage points from the previous month and 0.3 percentage points from the same month of last year. The national service industry production index increased by 8.1% year-on-year, and the growth rate was 0.1 percentage point higher than that of the previous month. In May, the total retail sales of social consumer goods reached 3,055.9 billion yuan, a year-on-year growth of 8.5%, and the growth rate fell by 0.9 percentage points from the previous month. From January to May, the national fixed asset investment (excluding rural households) was 2,164.34 billion yuan, up 6.1% year-on-year, and the growth rate fell 0.9% from January to April. Among them, private investment was 1,343.9 billion yuan, an increase of 8.1%, 0.3 percentage points lower than January to April, and 1.3 percentage points higher than the same period of last year.

In respect of capacity elimination, Mao Shengyong stated that the steel industry has implemented excess production capacity to prevent special inspections of the re-launch of “Grid Steel”, and structural decapacity production has been carried out in an orderly manner. Micro-leverage continues to decline, commodity housing stocks continue to decrease, corporate costs continue to fall, rapid investment in short-field growth, rapid growth of new industries, rapid growth of new products, and new business development.

Mao Shengyong pointed out that, on the whole, the imbalance and instability of the world economy have increased. However, the world economy as a whole continues its recovery and international trade maintains a growth trend. This trend is expected to continue. At the same time, the recovery of the world economy and the growth of international trade have created good conditions for the sound development of the Chinese economy and foreign trade. With regard to the Fed’s interest rate hike, from the past experience and reality of China, the impact of the Fed’s interest rate hike on the Chinese economy is limited in the short term.

Mao Shengyong stated that from an industrial perspective, the growth of the industry in the past two years is stable and moderately rising. In most of the last year, the average monthly high-speed level remained at around 6.5%; however, from the first few months of this year, the industrial growth showed steady growth. Ascending trend. The overall service industry also maintained steady and rapid growth. Therefore, from the perspective of industry, China’s economy will maintain its relatively good growth momentum in the second half of the year.