The overall economic operation of the province remained stable in the first four months
On May 26th, Shandong Province released the economic operation data for the entire province in April. It is understood that with the gradual implementation of various measures to expand domestic demand and stabilize growth, favorable factors for promoting development are gradually accumulating. From January to April, various aspects such as production, demand, employment, and prices showed that the overall economic operation of the province was stable.
The transformation and upgrading continue to advance. The industry is moving towards the mid to high end. From January to April, the specialized equipment manufacturing industry, railway, shipbuilding, aerospace, and other transportation equipment manufacturing industry, and computer communication and other electronic equipment manufacturing industry in the equipment industry maintained rapid growth, achieving value-added growth rates of 6.0%, 28.9%, and 7.2%, respectively. The investment structure continues to be optimized, with service industry investment accounting for 66.4% of total investment, an increase of 9.6 percentage points year-on-year. The investment in high-tech manufacturing industry has increased by 13.3%; The investment in high energy consuming industries has significantly weakened, with a decrease of 26.0%. Intelligent and energy-saving consumption is accelerating, and the retail sales of wearable smart devices and new energy vehicles for units above designated size have increased by 34.0% and 75.1% respectively. The retail sales of household appliances with energy efficiency levels 1 and 2, smart home appliances, and audio-visual equipment have increased by 14.0% and 7.8% respectively. Information consumption grew rapidly, Internet broadband access users grew 12.6%, and the total volume of telecommunications services grew 104.1%. Green energy is growing rapidly, with the installed capacity of new energy power generation reaching 28.663 million kilowatts, an increase of 14.4%, accounting for 21.5% of the province's total installed capacity of power generation.
The level of openness is steadily improving. From January to April, the total import and export of goods in the province was 624.17 billion yuan, an increase of 6.3%, which was 1.2 percentage points higher than the first quarter. Among them, exports were 334.35 billion yuan, an increase of 5.7%, and imports were 289.82 billion yuan, an increase of 6.9%. The international market has been further expanded, with imports and exports to Latin America, the European Union, ASEAN, and South Korea increasing by 19.5%, 12.4%, 9.8%, and 7.1% respectively. The export structure continues to optimize, with general trade exports growing by 8.1%, accounting for 70.7% of total exports, an increase of 1.5 percentage points year-on-year. The effect of "dual recruitment and dual introduction" is evident, with 655 newly established foreign-invested enterprises in the province, an increase of 10.6%; The actual use of foreign investment was 3.74 billion US dollars, an increase of 5.1%. Among them, 81 high-tech service industry enterprises actually used foreign investment of 380 million US dollars, an increase of 20.9% and 185.4% respectively.
The endogenous driving force of the market has increased. With the rebound of some commodity prices and the implementation of tax reduction and fee reduction policies, the industrial efficiency has improved. In the first quarter, industrial enterprises above designated size achieved a profit of 84.09 billion yuan, a decrease of 15.4%, a decrease of 11.0 percentage points compared to January February. The effect of reducing fees in industrial enterprises is evident, with sales, management, and finance "three expenses" accounting for 7.1% of operating income, a decrease of 0.4 percentage points from January to February. The growth of fiscal revenue remained stable, with a general public budget revenue of 244.83 billion yuan from January to April, an increase of 4.2%, of which tax revenue was 187.05 billion yuan, accounting for 76.4%. The vitality of market entities has surged, with 687000 new registered market entities from January to April, an increase of 65.3%; 221000 newly registered enterprises, an increase of 47.2%.
The improvement of people's livelihood security is powerful. The overall employment situation is stable, with 375000 new urban jobs added from January to April, achieving 34.1% of the annual plan. Prices remained moderately high, with consumer prices rising by 2.2%, an increase of 0.2 percentage points from the first quarter. Efforts to address shortcomings in the field of people's livelihood have been intensified, with investments in the aviation, railway, and road transportation industries increasing by 103.4%, 59.2%, and 12.0% respectively, and investments in the cultural, sports, and entertainment industries increasing by 24.3%.
Expected indicators perform well. The prices of industrial products have rebounded, with the ex factory prices of industrial producers rising by 0.3% from January to April, an increase of 0.2 percentage points from the first quarter. The purchase prices of industrial producers remained unchanged year-on-year, indicating that the market supply and demand relationship is still stable. The circulation sector is relatively active, with road freight volume remaining relatively stable, waterway freight volume increasing by 7.3%, and railway freight volume increasing by 17.2%. Credit continued to grow rapidly, with the balance of domestic and foreign currency loans from financial institutions at the end of April reaching 8207.72 billion yuan, an increase of 11.3%, an increase of 390.1 billion yuan from the beginning of the year, and a year-on-year increase of 116.12 billion yuan.
Information source: Shandong Provincial Government Website
Edited by He Yang
