PMI Index Shows That China'S Manufacturing Industry Has Maintained The Trend Of Recovery And Development

At a press conference held by the National Development and Reform Commission on the 21st, Li Chao, deputy director and spokesman of the Policy Research Office of the National Development and Reform Commission, said that, on the whole, China's manufacturing industry will continue to maintain the momentum of recovery and development and structural optimization.

In April this year, China's manufacturing purchasing managers' index (PMI) was 50.4%, which was in an expansion range of more than 50% for two consecutive months. This reflects that with the continuous emergence of macro policy effects, industrial production has grown steadily, corporate benefits have improved, and the prosperity level and corporate expectations have continued to improve.

Specifically, in April, the added value of the manufacturing industry increased by 5.7% year on year, 0.6 percentage points higher than that of the previous month; The PMI production index of manufacturing industry was 52.9%, the highest since April last year, reflecting the accelerated production expansion of manufacturing enterprises. In April, the total retail sales of consumer goods kept growing, and the export of goods resumed growth; The manufacturing PMI new order index and new export order index were 51.1% and 50.6% respectively, indicating that the manufacturing market demand continued to recover. In April, the PMI of high-tech manufacturing industry was 53.0%, showing a rapid development momentum; The investment in high-tech manufacturing industry in the first four months increased by 9.7% year on year, and the optimization of investment structure laid a solid foundation for the optimization of industrial structure. At the same time, the PMI of medium-sized enterprises and small enterprises was 50.7% and 50.3% respectively. The production index and new order index were in the expansion range for two consecutive months, reflecting that small and medium-sized manufacturing enterprises maintained a momentum of recovery.

Li Chao said that favorable conditions are accumulating to promote the sustainable recovery and development of the manufacturing industry. For example, in the first quarter, the profits of industrial enterprises above designated size increased by 4.3% year on year for three consecutive quarters, which provided strong support for enterprises to expand reproduction; The manufacturing investment in the first four months increased by 9.7%, 5.5 percentage points higher than the total fixed asset investment; In April, the expected index of manufacturing PMI production and operation activities was 55.2%, which continued to be in a relatively high boom range. These data show that manufacturing enterprises' confidence in future market development is generally stable. Next, the National Development and Reform Commission will focus on expanding effective investment and promoting domestic consumption.

Last year, China issued an additional 1 trillion yuan of national debt to support post disaster recovery and reconstruction and enhance the capacity for disaster prevention, mitigation and relief. Li Chao introduced that the current project of issuing additional treasury bonds is progressing smoothly on the whole, and all regions are working hard to promote the commencement of projects. Up to now, of the 15000 projects that have been put into operation, about 11000 have been started, with a construction rate of more than 70%. In particular, the overall progress of post disaster recovery and reconstruction projects is relatively fast, and the project commencement rate of 8 provinces and cities in North China, with Beijing Tianjin Hebei as the focus, has reached about 80%. The National Development and Reform Commission is actively promoting the construction of additional treasury bond issuance projects to start before the end of June this year.

In terms of promoting the implementation of investment projects such as ultra long term special treasury bonds, the National Development and Reform Commission, together with relevant departments and local governments, has promoted the preparations for supporting the "dual" construction of ultra long term special treasury bonds from three aspects since this year. First, do a good job of project reserve. Since February this year, the National Development and Reform Commission has organized various local relevant departments for many times to sort out and reserve ultra long term special treasury bond projects that can be started this year, and guide and help local governments to accelerate the preliminary work of projects. Second, detailed tasks and measures. Assign each place to further refine and implement the key tasks of "dual" construction. At the same time, we will work with relevant departments to study and clarify the detailed requirements for "hard investment" projects and specific measures for "soft construction". Third, prepare for the release of the first batch of projects. Sort out a batch of major projects that meet the requirements of "dual" construction and can be immediately released for investment. After the national debt funds are in place, the construction can be accelerated.

Since the introduction of large-scale equipment renewal and consumer goods trade in policy, it has attracted extensive attention from all walks of life. The National Development and Reform Commission and relevant departments have carried out a lot of work in formulating and implementing relevant action plans and policy initiatives, increased central investment in support of equipment renewal and recycling projects, clarified the subsidy policy for old cars for new ones, and set up 500 billion yuan of science and technology innovation and technological transformation refinancing; At the same time, local governments were urged to take immediate action, and 27 provinces and cities introduced support policies such as manufacturing loan discount, old for new subsidies, and consumption vouchers according to local conditions. With the joint efforts of all parties, the demand for equipment renewal and trade in of consumer goods is continuing to release.

In the field of industrial, agricultural, construction, medical and other equipment, as well as in the field of durable consumer goods such as automobiles, household appliances and household appliances, many private enterprises have the ability, conditions and willingness to participate in large-scale equipment renewal and consumer goods trade in. According to incomplete statistics, some household appliance enterprises and automobile enterprises have announced the subsidy plan for trade in of old products exceeding 15 billion yuan; A number of e-commerce platforms have cooperated with production enterprises to invest more than 10 billion yuan in the promotion of trade in.

Next, the National Development and Reform Commission will pay close attention to the establishment of the working mechanism for equipment renewal and consumer goods trade in, work with relevant departments to continuously improve and promote the implementation of the "1+N" policy system, give full play to the role of the business entity, guide the whole society, including private enterprises, to jointly invest, and more comprehensively and deeply participate in all aspects of equipment renewal and consumer goods trade in.

(Source: Economic Daily)