From January to April this year, China effectively implemented more proactive and impactful macro policies, focusing on keeping employment, enterprises, markets and expectations stable. Production and supply maintained steady growth, market sales continued to expand, and the resilience of foreign trade became increasingly evident. Employment and prices remained generally stable, new growth drivers continued to gain strength, and high-quality development advanced with new and positive momentum.

Specifically, industrial production maintained relatively rapid growth, with equipment manufacturing and high-tech manufacturing recording robust growth. From January to April, the value added of industrial enterprises above the designated size nationwide increased by 5.6% year on year. The Index of Services Production rose by 4.9% year on year, while total retail sales of consumer goods reached 16.49 trillion yuan, up 1.9% year on year. Total imports and exports of goods amounted to about 16.23 trillion yuan, marking a year-on-year increase of 14.9%.In terms of prices, the national consumer price index(CPI) in April rose 1.2% year on year, 0.2 percentage points higher than the increase recorded in the previous month, while edging up 0.3% month on month.

From a month-on-month perspective, domestic energy prices climbed 5.7% in April, driven by rising international oil prices, with the increase widening by 0.9 percentage points from the previous month. In addition, the spring breaks for primary and secondary school students in many regions, along with the Qingming Festival and May Day holiday effects, unleashed concentrated demand for cultural and tourism travel such as parent-child tours and family trips. As a result, prices for air tickets, vehicle rentals, travel agency services and hotel accommodation all increased compared with the previous month. Together, these four categories contributed about 0.17 percentage points to the month-on-month increase in the CPI.

Source:PEARL

稳中有进！前4个月我国经济数据出炉

今年1—4月份，我国有效实施更加积极有为的宏观政策，着力稳就业、稳企业、稳市场、稳预期，生产供给平稳增长，市场销售继续扩大，外贸韧性持续彰显，就业物价总体稳定，新动能成长壮大，高质量发展向新向优。

具体来看，工业生产保持较快增速，装备制造业和高技术制造业增势突出，1—4月份，全国规模以上工业增加值同比增长5.6%；全国服务业生产指数同比增长4.9%；社会消费品零售总额164941亿元，同比增长1.9%；货物进出口总额162252亿元，同比增长14.9%。物价运行方面，4月份全国居民消费指数（CPI）同比上涨1.2%，涨幅比上月扩大0.2个百分点，环比上涨0.3%。对于4月份CPI同比涨幅扩大。

环比数据看，受国际油价上行拉动，国内能源价格环比上涨5.7%，涨幅较上月扩大0.9个百分点。叠加多地中小学春假及清明、“五一”假期效应，亲子游、家庭游等文旅出行需求集中释放，飞机票、交通工具租赁、旅行社收费、宾馆住宿等服务价格都比上月有所上涨。这四项合计影响CPI环比上涨约0.17个百分点。

文｜记者 王莉
译 | 郑奕玲
英文审校 | 曾敏