今年以来，在党中央坚强领导下，各地区各部门认真贯彻落实党中央国务院决策部署，坚持稳中求进工作总基调，深入贯彻新发展理念，按照推动高质量发展要求，扎实推进供给侧结构性改革，加大逆周期调节力度，狠抓政策落实，经济运行开局平稳，积极因素逐渐增多，市场预期和信心增强，保持了总体平稳、稳中有进的发展态势。

In the first quarter of 2019, under the strong leadership of the CPC Central Committee, all regions and departments implemented the decisions and arrangements made by the CPC Central Committee and the State Council, adhered to the general working guideline of making progress while maintaining stability, fully implemented the new development philosophy, conformed to the requirements of high quality development, made solid efforts to advance the supply-side structural reform, strengthened the counter-cyclical adjustment, and spared no effort to put the policies into effect. As a result, the national economy enjoyed stable performance with growing positive factors and stronger market expectation and confidence, sustaining the momentum of progress in overall stability.

初步核算，一季度国内生产总值213433亿元，按可比价格计算，同比增长6.4%，与上年四季度相比持平，比上年同期和全年分别回落0.4和0.2个百分点。分产业看，第一产业增加值8769亿元，同比增长2.7%；第二产业增加值82346亿元，增长6.1%；第三产业增加值122317亿元，增长7.0%。

According to the preliminary estimation, the gross domestic product (GDP) of China was 21,343.3 billion yuan in the first quarter, an increase of 6.4 percent at comparable prices year-on-year, the same as that of the fourth quarter last year, 0.4 percentage point lower than that of the same period last year and 0.2 percentage point lower than that of 2018. The value added of the primary industry was 876.9 billion yuan, up by 2.7 percent year-on-year; that of the secondary industry was 8,234.6 billion yuan, up by 6.1 percent; and that of the tertiary industry was 12,231.7 billion yuan, up by 7.0 percent.

一、农业生产基本稳定，种植结构不断优化

1. Agricultural Production was Stable and the Planting Structure was Optimized.
 
一季度，农业（种植业）增加值同比增长4.4%。禽蛋产量增长2.3%，牛奶产量增长2.0%。猪牛羊禽肉产量2252万吨，同比下降2.8%；其中，猪肉产量1463万吨，下降5.2%；牛肉、羊肉和禽肉产量分别增长1.7%、1.4%和2.1%。3月份全国主要农区气候条件总体有利，大部分农区日照和墒情适宜，光热条件总体较好，春耕春播进展顺利。大豆意向种植面积同比增长16.4%，优质的中稻和一季晚稻意向种植面积增长1.9%。

In the first quarter of 2019, the value-added of agriculture (crop farming) grew by 4.4 percent year-on-year. The output of eggs grew by 2.3 percent and that of milk grew by 2.0 percent. The total output of pork, beef, mutton and poultry was 22.52 million tons, down by 2.8 percent year-on-year. Specifically, the output of pork was 14.63 million tons, down by 5.2 percent; that of beef, mutton and poultry was up by 1.7 percent 1.4 percent and 2.1 percent respectively. In March, with favorable weather in major farming areas, the spring ploughing and sowing went on smoothly in most areas under suitable sunshine and soil moisture, as well as good light and heat conditions. The planting area intended for soybean increased by 16.4 percent year-on-year, and that for quality middle-season rice and single-cropping late rice grew by 1.9 percent.

二、工业生产有所加快，高技术产业占比提高
 
2. The Growth of Industrial Production Accelerated and the Proportion of High-tech Industries Went up.

一季度，全国规模以上工业增加值同比增长6.5%，增速比1-2月份加快1.2个百分点，比上年四季度加快0.8个百分点，比上年同期回落0.3个百分点。分经济类型看，国有控股企业增加值增长4.5%，股份制企业增长7.8%，外商及港澳台商投资企业增长1.4%。分三大门类看，采矿业增加值同比增长2.2%，制造业增长7.2%，电力、热力、燃气及水生产和供应业增长7.1%。工业高技术产业增加值同比增长7.8%，快于规模以上工业1.3个百分点，占全部规模以上工业比重为13.5%，比上年同期提高0.8个百分点。工业战略性新兴产业增加值同比增长6.7%，快于规模以上工业0.2个百分点。新产品快速增长，一季度，移动通信基站设备、城市轨道车辆、新能源汽车、太阳能电池产量同比分别增长153.7%、54.1%、48.2%和18.2%。3月份，规模以上工业增加值同比增长8.5%，比1-2月份加快3.2个百分点，环比增长1.0%。

The growth of the total value added of the industrial enterprises above the designated size was 6.5 percent year-on-year in the first quarter of 2019, 1.2 percentage points higher than that of the first two months and 0.8 percentage point higher than that of the fourth quarter last year, 0.3 percentage point lower than the same period last year. An analysis by types of ownership showed that the value added of the state holding enterprises was up by 4.5 percent; that of share-holding enterprises up by 7.8 percent; and that of enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan up by 1.4 percent. In terms of sectors, the value added of the mining grew by 2.2 percent year-on-year, the manufacturing increased by 7.2 percent and the production and supply of electricity, thermal power, gas and water increased by 7.1 percent. The value added of high-tech industries grew by 7.8 percent year-on-year, 1.3 percentage points higher than that of the industrial enterprises above the designated size, accounting for 13.5 percent of that of the industrial enterprises above the designated size, 0.8 percentage point higher than the same period last year. The value added of strategic emerging industries grew by 6.7 percent year-on-year, 0.2 percentage point higher than that of the industrial enterprises above the designated size. New products registered fast growth, with the output of devices for mobile communication base stations, urban rail vehicles, new energy automobiles and solar cells growing by 153.7 percent, 54.1 percent, 48.2 percent and 18.2 percent respectively in the first quarter. In March, the total value added of the industrial enterprises above the designated size was up by 8.5 percent year-on-year, 3.2 percentage points higher than that of the first two months, or up by 1.0 percent month-on-month. www.kouyi.org

1-2月份，全国规模以上工业企业实现利润总额7080亿元，同比下降14.0%，剔除春节因素后与上年同期持平略降；规模以上工业企业营业收入利润率为4.79%。初步统计，3月份工业企业实现利润情况有所好转。

In the first two months, the profits made by industrial enterprises above the designated size stood at 708.0 billion yuan, down by 14.0 percent year-on-year, a slight decline compared with the same period last year after deducting the spring festival factor. The profit rate of the business revenue of the industrial enterprises above the designated size was 4.79 percent. Preliminary data showed that industrial enterprises improved their profits realization in March.

三、服务业较快增长，主要行业增速回升

3. The Service Sector Grew Fast and the Growth of Main Industries Rebounded.

一季度，第三产业发展稳中有进。其中租赁和商务服务业增加值同比增长8.3%，金融业增长7.0%，住宿和餐饮业增长6.0%，批发和零售业增长5.8%，增速比上年四季度均有所提升。信息传输、软件和信息技术服务业保持较快增长，同比增长21.2%。

In the first quarter, the tertiary industry witnessed progress while maintaining overall stability. Specifically, the value-added of leasing and business services grew by 8.3 percent year-on-year, financial intermediation up by 7.0 percent, lodging and catering services up by 6.0 percent, wholesale and retail trade up by 5.8 percent, all registering higher growth rates than the fourth quarter of last year. Information transmission, software and information technology services maintained fast growth, up by 21.2 percent year-on-year. www.kouyi.org

一季度，全国服务业生产指数同比增长7.4%，增速比1-2月份加快0.1个百分点，比上年四季度加快0.2个百分点。3月份，全国服务业生产指数同比增长7.6%，比1-2月份加快0.3个百分点。1-2月份，规模以上服务业企业营业收入同比增长10.9%，增速比上年全年回落0.5个百分点。

In the first quarter of 2019, the Index of Services Production increased by 7.4 percent year-on-year, 0.1 percentage point higher than that of the first two months, or 0.2 percentage point higher than that of the fourth quarter last year. In March, the Index of Services Production was up by 7.6 percent year-on-year, 0.3 percentage point higher than that of the first two months. In the first two months, the business revenue of service enterprises above the designated size increased by 10.9 percent year-on-year, 0.5 percentage point lower than that of last year.

四、市场销售增速上升，网上零售占比提高

4. Market Sales Witnessed Accelerated Growth and the Share of Online Retail Sales Increased.

一季度，社会消费品零售总额97790亿元，同比增长8.3%，增速比1-2月份加快0.1个百分点，比上年同期回落1.5个百分点。按经营单位所在地分，城镇消费品零售额83402亿元，增长8.2%；乡村消费品零售额14388亿元，增长9.2%。按消费类型分，餐饮收入10644亿元，增长9.6%；商品零售87146亿元，增长8.2%。消费升级类商品销售增长较快，限额以上单位化妆品类、通讯器材类商品同比分别增长10.9%和10.0%，增速分别快于社会消费品零售总额2.6和1.7个百分点。3月份，社会消费品零售总额同比增长8.7%，比1-2月份加快0.5个百分点，环比增长0.91%。

In the first quarter of 2019, the total retail sales of consumer goods reached 9,779.0 billion yuan, up by 8.3 percent year-on-year, 0.1 percentage point higher than that of the first two months, or 1.5 percentage points lower than that of the same period last year. Analyzed by different areas, the retail sales in urban areas reached 8,340.2 billion yuan, up by 8.2 percent, and the retail sales in rural areas stood at 1,438.8 billion yuan, up by 9.2 percent. Grouped by consumption patterns, the income of catering industry was 1,064.4 billion yuan, up by 9.6 percent; and the retail sales of goods reached 8,714.6 billion yuan, up by 8.2 percent. The sales of upgraded consumer goods witnessed fast growth. Specifically, the sales of cosmetics and telecommunication equipment by enterprises above the designated size grew by 10.9 percent and 10.0 percent year-on-year respectively, 2.6 percentage points and 1.7 percentage points higher than that of retail sales of consumer goods respectively. In March, the total retail sales of consumer goods went up by 8.7 percent year-on-year, 0.5 percentage point higher than that of the first two months, or up by 0.91 percent month-on-month. www.kouyi.org

一季度，全国网上零售额22379亿元，同比增长15.3%，比1-2月份加快1.7个百分点。其中，实物商品网上零售额17772亿元，增长21.0%，占社会消费品零售总额的比重为18.2%，比1-2月份提高1.7个百分点。

In the first quarter of 2019, the online retail sales reached 2,237.9 billion yuan, a year-on-year increase of 15.3 percent, 1.7 percentage points higher than that of the first two months. Specifically, the online retail sales of physical goods were 1,777.2 billion yuan, up by 21.0 percent, accounting for 18.2 percent of the total retail sales of consumer goods, 1.7 percentage points higher than that of the first two months.

五、投资稳步回升，高技术产业投资增长较快

5. The Investment Rebounded Steadily and the Investment in High-tech Industries Grew Fast.

一季度，全国固定资产投资（不含农户）101871亿元，同比增长6.3%，增速比1-2月份加快0.2个百分点，比上年同期回落1.2个百分点。其中，民间投资61492亿元，增长6.4%。分产业看，第一产业投资增长3.0%；第二产业投资增长4.2%，其中制造业投资增长4.6%；第三产业投资增长7.5%，其中基础设施投资增长4.4%。高技术制造业投资同比增长11.4%，增速比全部投资快5.1个百分点；高技术服务业投资同比增长19.3%，比全部投资快13.0个百分点。从环比看，3月份固定资产投资（不含农户）比上月增长0.45%。

In the first quarter of 2019, the investment in fixed assets (excluding rural households) was 10,187.1 billion yuan, growing by 6.3 percent year-on-year, 0.2 percentage point higher than that of the first two months, or 1.2 percentage points lower than that of the same period last year. Specifically, the private investment reached 6,149.2 billion yuan, up by 6.4 percent. The investment in the primary industry grew by 3.0 percent; the secondary industry up by 4.2 percent, among which the investment in manufacturing grew by 4.6 percent; and the tertiary industry grew by 7.5 percent, among which the investment in infrastructure grew by 4.4 percent. The investment in the high-tech manufacturing went up by 11.4 percent year-on-year, 5.1 percentage points higher than that of the total investment; the investment in the high-tech services went up by 19.3 percent year-on-year, 13.0 percentage points higher than that of the total investment. In March, the investment in fixed assets (excluding rural households) grew by 0.45 percent month-on-month. www.kouyi.org

一季度，全国房地产开发投资23803亿元，同比增长11.8%，增速比1-2月份加快0.2个百分点，比上年同期加快1.4个百分点。全国商品房销售面积29829万平方米，同比下降0.9%，降幅比1-2月份收窄2.7个百分点；全国商品房销售额27039亿元，增长5.6%，增速比1-2月份加快2.8个百分点。

The total investment in real estate development in the first quarter was 2,380.3 billion yuan, up by 11.8 percent year-on-year, 0.2 percentage point higher than that of the first two months, or 1.4 percentage points higher than that of the same period last year. The floor space of commercial buildings sold reached 298.29 million square meters, down by 0.9 percent year-on-year, 2.7 percentage points lower than that of the first two months. The total sales of commercial buildings were 2,703.9 billion yuan, up by 5.6 percent, 2.8 percentage points higher than that of the first two months.

六、进出口总额增长加快，贸易结构持续优化

6. The Growth of Total Value of Imports and Exports Accelerated and the Trade Structure Continued to Optimize.

一季度，货物进出口总额70051亿元，同比增长3.7%，增速比1-2月份加快3.0个百分点。其中，出口37674亿元，增长6.7%；进口32377亿元，增长0.3%。进出口相抵，顺差5297亿元，比上年同期扩大75.2%。贸易方式结构进一步优化，一般贸易进出口增长6.0%，占进出口总额的比重为59.6%，比上年同期提高1.3个百分点；机电产品出口增长5.4%，占出口总额的比重为58.8%。民营企业进出口增长9.9%，占进出口总额的比重为40.6%，比上年同期提高2.3个百分点。3月份，进出口总额24626亿元，同比增长9.6%，比1-2月份加快8.9个百分点。其中，出口13419亿元，增长21.3%；进口11207亿元，下降1.8%。

The total value of imports and exports in the first quarter was 7,005.1 billion yuan, up by 3.7 percent year-on-year , 3.0 percentage points higher than that of the first two months. The total value of exports was 3,767.4 billion yuan, up by 6.7 percent; the total value of imports was 3,237.7 billion yuan, up by 0.3 percent. The trade balance was 529.7 billion yuan in surplus, up by 75.2 percent over that of the same period last year. The trade structure continued to optimize. The value of general trade grew by 6.0 percent, accounting for 59.6 percent of the total value of imports and exports, 1.3 percentage points higher than that of the same period last year. The export of electrical and mechanical products increased by 5.4 percent, accounting for 58.8 percent of the total value of exports. The total value of imports and exports by private enterprises went up by 9.9 percent, accounting for 40.6 percent of the total value of imports and exports, 2.3 percentage points higher than that of the same period last year. In March, the total value of imports and exports was 2,462.6 billion yuan, up by 9.6 percent year-on-year, 8.9 percentage points higher than that of the first two months. Specifically, the total value of exports was 1,341.9 billion yuan, up by 21.3 percent; the total value of imports was 1,120.7 billion yuan, down by 1.8 percent. www.kouyi.org

一季度，规模以上工业企业实现出口交货值27663亿元，同比增长4.8%。3月份，规模以上工业企业实现出口交货值10292亿元，增长5.7%。

In the first quarter, the export delivery value of the industrial enterprises above the designated size reached 2,766.3 billion yuan, up by 4.8 percent year-on-year. In March, the export delivery value of the industrial enterprises above the designated size stood at 1,029.2 billion yuan, up by 5.7 percent.

七、居民消费价格涨势温和，工业生产者价格小幅上涨

7. The Consumer Price Rose Mildly and the Producer Prices for Industrial Products Experienced Modest Growth.

一季度，全国居民消费价格同比上涨1.8%，涨幅比1-2月份扩大0.2个百分点，比上年同期回落0.3个百分点。其中，城市上涨1.9%，农村上涨1.8%。分类别看，食品烟酒价格同比上涨2.2%，衣着上涨1.8%，居住上涨2.1%，生活用品及服务上涨1.3%，交通和通信下降0.8%，教育文化和娱乐上涨2.6%，医疗保健上涨2.7%，其他用品和服务上涨2.1%。在食品烟酒价格中，粮食价格上涨0.5%，猪肉价格下降1.2%，鲜菜价格上涨6.9%。3月份，全国居民消费价格同比上涨2.3%，涨幅比上月扩大0.8个百分点；环比下降0.4%。

In the first quarter, the consumer price went up by 1.8 percent year-on-year, 0.2 percentage point higher than that of the first two months, or 0.3 percentage point lower than that of the same period last year. Specifically, the price went up by 1.9 percent in urban areas and up by 1.8 percent in rural areas. Grouped by commodity categories, prices for food, tobacco and liquor went up by 2.2 percent; clothing up by 1.8 percent; housing up by 2.1 percent; articles and services for daily use up by 1.3 percent; transportation and communication down by 0.8 percent; education, culture and recreation up by 2.6 percent; medical services and health care up by 2.7 percent; other articles and services up by 2.1 percent. In terms of food, tobacco and liquor prices, prices for grain went up by 0.5 percent, pork down by 1.2 percent and fresh vegetables up by 6.9 percent. In March, the consumer price went up by 2.3 percent year-on-year, 0.8 percentage point higher than that of last month, or down by 0.4 percent month-on-month. www.kouyi.org

一季度，全国工业生产者出厂价格同比上涨0.2%，涨幅比1-2月份扩大0.1个百分点，比上年同期回落3.5个百分点。3月份，全国工业生产者出厂价格同比上涨0.4%，涨幅比上月扩大0.3个百分点；环比上涨0.1%。一季度，全国工业生产者购进价格同比上涨0.1%，其中3月份同比上涨0.2%，环比持平。

In the first quarter, the producer prices for industrial products went up by 0.2 percent year on year, 0.1 percentage point higher than that of the first two months, or 3.5 percentage points lower than that of the same period last year. In March, the producer prices for industrial products went up by 0.4 percent year-on-year, 0.3 percentage point higher than that of February, or up by 0.1 percent month-on-month. In the first quarter of 2019, the purchasing prices for industrial producers were up by 0.1 percent year-on-year and in March, it was up by 0.2 percent year-on-year, the same as that of February.

八、全国城镇调查失业率有所下降，外出务工农村劳动力继续增加

8. The Surveyed Unemployment Rate in Urban Areas Dropped Slightly and the Number of Rural Migrant Workers Continued to Increase.

一季度，全国城镇新增就业人员324万人。3月份，全国城镇调查失业率为5.2%，比上月下降0.1个百分点；其中25-59岁群体人口调查失业率为4.8%，低于全国城镇调查失业率0.4个百分点。31个大城市城镇调查失业率为5.1%，比上月上升0.1个百分点。3月份，全国企业就业人员周平均工作时间为46.0小时，比上月增加1.1个小时。3月末，外出务工农村劳动力总量17651万人，比上年同期增加210万人，增长1.2%，增速比上年同期加快0.1个百分点。

In the first quarter of 2019, the newly increased employed people in urban areas totaled 3.24 million. In March, the surveyed unemployment rate in urban areas was 5.2 percent, 0.1 percentage point lower than that of February. Specifically, the surveyed unemployment rate of population aged from 25 to 59 was 4.8 percent, 0.4 percentage point lower than that of the surveyed unemployment rate in urban areas. The urban surveyed unemployment rate in 31 major cities was 5.1 percent, 0.1 percentage point higher than that of last month. The employees of enterprises worked averagely 46.0 hours per week, increased by 1.1 hours over that in February. At the end of March, the number of rural migrant workers reached 176.51 million, 2.10 million more than that of the same period last year, up by 1.2 percent, or 0.1 percentage point higher than that of the same period last year.

九、居民收入稳定增长，农村居民收入增速快于城镇

9. Residents Income Grew Steadily and the Income Growth of Rural Residents Outpaced that of Urban Residents.

一季度，全国居民人均可支配收入8493元，同比名义增长8.7%，扣除价格因素实际增长6.8%，比上年同期加快0.2个百分点。按常住地分，城镇居民人均可支配收入11633元，实际增长5.9%；农村居民人均可支配收入4600元，实际增长6.9%。城乡居民人均可支配收入比值为2.53，比上年同期下降0.02。全国居民人均可支配收入中位数7158元，同比名义增长8.8%。

In the first quarter, the nationwide per capita disposable income of residents was 8,493 yuan, a nominal growth of 8.7 percent year-on-year, or a real increase of 6.8 percent after deducting price factors, 0.2 percentage point higher than the same period last year. In terms of permanent residence, the per capita disposable income of urban households was 11,633 yuan, a real growth of 5.9 percent. The per capita disposable income of rural households was 4,600 yuan, a real growth of 6.9 percent. The per capita disposable income of urban households was 2.53 times that of the rural households, 0.02 less than that of the same period last year. The median of the nationwide per capita disposable income was 7,158 yuan, a nominal increase of 8.8 percent.

十、经济结构调整优化，转型升级成效明显

10. The Economic Restructuring was Advanced and the Transformation and Upgrading Made Remarkable Achievement.

供给侧结构性改革深入推进。一季度，全国工业产能利用率为75.9%，与历史同期相比，为2013年以来的次高点。3月末全国商品房待售面积51646万平方米，比上月末减少605万平方米，比上年同期下降9.9%。2月末，规模以上工业企业资产负债率为56.9%，同比下降0.2个百分点。一季度，生态保护和环境治理业、铁路运输业投资同比分别增长43.0%和11.0%，分别快于全部投资36.7和4.7个百分点。

The supply-side structural reform was deepened. In the first quarter, the national industrial capacity utilization rate reached 75.9 percent, the second highest since 2013 compared with the same period in the past. At the end of March, the floor space of commercial buildings for sale was 516.46 million square meters, 6.05 million square meters less than that at the end of February, down by 9.9 percent year-on-year. At the end of February, the asset-liability ratio of industrial enterprises above the designated size was 56.9 percent, down by 0.2 percentage point year-on-year. In the first quarter, the investment in ecological protection and treatment of environmental pollution and that in railway transport went up by 43.0 percent and 11.0 percent respectively, 36.7 percentage points and 4.7 percentage points higher than that of the total investment. www.kouyi.org

三大攻坚战扎实推进。2月末，全国地方政府债务余额191420亿元，控制在全国人大批准的限额之内。脱贫攻坚有效推进，贫困地区农村居民人均可支配收入较快增长。污染防治成效继续显现，清洁能源消费比重上升。初步核算，一季度，天然气、水电、核电、风电等清洁能源消费量占能源消费总量的比重比上年同期提高1.5个百分点，单位国内生产总值能耗同比下降2.7%。

Steady efforts were made to advance the “three critical battles” of preventing and defusing financial risks, conducting targeted poverty eradication and controlling pollution. At the end of February, the balance of local governments debt stood at 19,142.0 billion yuan, which was within the limit approved by the National People’s Congress. The work of poverty eradication progressed steadily, with the per capita disposable income for rural households in impoverished areas registered fast growth. The work of pollution prevention and control continued to manifest effects and the share of clean energy consumption increased. According to preliminary estimation, the share of consumption of clean energy such as natural gas, hydropower, nuclear power and wind power in total energy consumption in the first quarter was 1.5 percentage points higher than that of same period last year. The energy consumption per unit GDP went down by 2.7 percent year-on-year.

经济结构继续优化。一季度，第三产业增加值占国内生产总值比重为57.3%，比上年同期提高0.6个百分点，比第二产业高18.7个百分点；第三产业增长对国内生产总值增长的贡献率为61.3%，高于第二产业24.4个百分点。最终消费支出增长对经济增长的贡献率为65.1%，消费继续成为需求动力的主导力量。在全部居民最终消费支出中，服务消费占比为47.7%，比上年同期提高1.4个百分点。东、中、西、东北四大板块良性互动，京津冀协同发展取得新进展，长江经济带大保护行动加快实施，长三角一体化稳步推进，粤港澳大湾区发展规划纲要发布，海南自由贸易区有序建设，空间发展格局更趋优化拓展。

The economic structure continued to optimize. In the first quarter of 2019, the value added of the tertiary industry accounted for 57.3 percent of total GDP, 0.6 percentage point higher than that of the same period last year, 18.7 percentage points higher than that of the secondary industry, contributing 61.3 percent to GDP growth, 24.4 percentage points higher than that of the secondary industry. Consumption continued to perform as the dominant driving force from demand side with final consumption expenditure contributing 65.1 percent to GDP growth. Service consumption took up 47.7 percent of households final consumption expenditure, 1.4 percentage points higher than that of the same period last year. With the integrated development of the eastern, central, western and northwestern regions, achievements scored in the coordinated development of the Beijng-Tianjin-Hebei region, the accelerated implementation of close coordination on environmental protection along the Yangtze River Economic Belt, the integrated development of the Yangtze River Delta, the issue of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area and the building of Hainan Pilot Free Trade Zone , the layout of development was further improved.
 
十一、市场预期明显改善，发展信心有所增强

11. Market Expectation Improved Notably and the Confidence in Development was Strengthened.

制造业采购经理指数（PMI）重回扩张区间。3月份，制造业采购经理指数为50.5%，比上月上升1.3个百分点，连续3个月低于临界点后重回扩张区间；5个分类指数全部回升，其中生产指数、新订单指数分别回升3.2和1.0个百分点。企业生产经营活动预期指数为56.8%，比上月上升0.6个百分点。非制造业商务活动指数持续处于景气区间。3月份，非制造业商务活动指数为54.8%，比上月上升0.5个百分点。服务业商务活动指数为53.6%，比上月上升0.1个百分点，服务业新订单指数连续三个月位于扩张区间。建筑业商务活动指数为61.7%，位于高位景气区间。综合PMI产出指数明显回升。3月份综合PMI产出指数为54.0%，比上月上升1.6个百分点，企业生产经营活动总体扩张加快。一季度消费者信心指数为124.6，比上年四季度提高3.2点。

The Manufacturing Purchasing Managers’ Index (PMI) returned to the range of expansion. In March, the Manufacturing PMI was 50.5 percent, 1.3 percentage points higher than that of February, back to the range of expansion after staying below the threshold for three months in a row. All 5 sub-indices rebounded, among which the Production Index and the New Orders Index went up by 3.2 percentage points and 1.0 percentage point respectively. The Production and Operation Expectation Index was 56.8 percent, 0.6 percentage point higher than that of February. The Business Activity Index for Non-Manufacturing Industries stayed within the range of expansion. In March, the Business Activity Index for Non-Manufacturing Industries was 54.8 percent, 0.5 percentage point higher than that of last month. The Business Activity Index for services was 53.6 percent, 0.1 percentage point higher than that of last month. The New Orders Index for services stayed within the expansion range for 3 consecutive months. The Business Activity Index for construction stood at 61.7 percent, within the expansion range. The Composite PMI Output Index showed a marked rise. In March, the Composite PMI Output Index was 54.0 percent, 1.6 percentage points higher than that of last month. The expansion of production and operation of enterprises accelerated in general. In the first quarter, the Consumer Confidence Index was 124.6, 3.2 percentage points higher than that of the fourth quarter last year.

总的来看，一季度国民经济继续运行在合理区间，延续了总体平稳、稳中有进的发展态势，积极因素逐渐增多，为全年经济稳定健康发展打下良好基础。但也要看到，全球经济增长和国际贸易有所放缓，外部不确定性因素较多，国内结构性矛盾仍比较突出，改革发展任务艰巨，经济下行压力犹存。下阶段，要以新时代中国特色社会主义思想为指导，认真贯彻落实中央经济工作会议精神和政府工作报告决策部署，坚持稳中求进工作总基调，坚持以供给侧结构性改革为主线，继续打好三大攻坚战，统筹推进稳增长、促改革、调结构、惠民生、防风险、保稳定各项工作，充分调动各方面积极性，狠抓各项政策落实落地，保持经济运行在合理区间，扎实推动经济迈向高质量发展。

Generally speaking, the national economy performed within an appropriate range in the first quarter, sustaining the momentum of progress in overall stability with growing positive factors, which laid a sound foundation for the stable and healthy economic development of the whole year. However, at the same time we should also be aware that given slowing global economic growth and international trade, increasing international uncertainties and prominent domestic structural issues, the task of reform and development is arduous and the economic downward pressure still persist. At the next stage, taking Thought on Socialism with Chinese Characteristics for a New Era as the guideline, we should fully implement the spirit of the Central Economic Work Conference and the decisions of the Report on the Work of the Government, follow the general working guideline of making progress while maintaining stability, focus on the supply-side structural reform, make continuous efforts to win the “three critical battles”, take coordinated steps to achieve steady growth, advance reform, make structural adjustments, improve living standards, guard against risk and maintain stability, fully mobilize the initiative of all sectors of the society, and redouble efforts to implement policies in order to make national economy perform within an appropriate range and promote the high-quality development.

 

来源：译匠微信公众号

心译翻译工作室

英语翻译