Statistics from the National Bureau of Statistics show that the national economy has recovered steadily.

　　The economic operation data released by the National Bureau of Statistics on December 15th showed that the industrial service industry continued to pick up, the investment and consumption continued to improve, the employment price was generally stable, the basic livelihood security was strong, and the national economy continued to recover steadily. From January to November, private investment increased by 0.2%, and the growth rate turned positive for the first time in the year; In November, the retail sales of commodities increased by 5.8%, which was positive for five consecutive months. From January to October, the total profit of industrial enterprises above designated size increased by 0.7% year-on-year, and the growth rate changed from negative to positive for the first time in the year; The annual grain output has been stable at more than 1.3 trillion Jin for six consecutive years.

　　From the supply side, the recovery of production is expanding and the balance is improving. Among the 41 major industries, more than 70% have achieved growth. In the early stage, the equipment manufacturing industry supported industrial growth obviously. Recently, the consumer goods manufacturing industry has also steadily picked up, with a year-on-year growth of 3% in November. Seven of the eight major industries in the service industry production index have achieved growth, and some modern service industries have grown rapidly in the early stage, and the related productive service industries and life service industries have also improved recently; Grain production is blessed with a bumper harvest.

　　From the demand side, the warming trend is consolidating, and the endogenous growth momentum continues to increase. Let’s look at consumption first. In November, the total retail sales of social consumer goods was 3,951.4 billion yuan, up 5.0% year-on-year, 0.7 percentage points faster than that in October, and the market sales continued to pick up. From the perspective of the main commodity structure, the sales of consumption-upgrading commodities have grown rapidly. In November, communication equipment, cosmetics, gold, silver and jewelry products increased by 43.6%, 32.3% and 24.8% respectively. In terms of sales patterns, the online retail sales of physical goods in the first 11 months increased by 15.7% year-on-year, and continued to maintain rapid growth. While online retailing has maintained rapid growth, the sales of physical stores are also recovering.

　　"As the economy gradually returns to normal growth, consumption will still become the main supporting engine of the economy." Fu Linghui, spokesman of the National Bureau of Statistics, said that with the economic recovery, employment is expanding, which is conducive to increasing residents’ income. At the same time, the efficiency of enterprises is improving, and recently China has issued a series of policies to promote consumption growth, such as promoting a new round of cars going to the countryside and replacing old appliances with new ones, and actively promoting the innovative development of catering consumption. Judging from these factors, the sustained recovery of consumption is based and conditional.

　　Looking at investment, from January to November, the national fixed assets investment increased by 2.6% year-on-year, 0.8 percentage points faster than that from January to October. Private investment increased by 0.2%, and the growth rate turned positive for the first time this year. "At present, the economic operation is gradually shifting from policy-driven to endogenous growth in the market, and the cumulative growth rate of private investment from negative to positive actually reflects this feature." Fu Linghui said.

　　In terms of fields, infrastructure investment increased by 1.0% year-on-year, 0.3 percentage points faster than that from January to October; Manufacturing investment decreased by 3.5%, which was 1.8 percentage points narrower than that from January to October. Investment in real estate development increased by 6.8%, 0.5 percentage points faster than that from January to October. Fu Linghui said that the trend of manufacturing recovery is expected to continue. First, the efficiency of manufacturing enterprises is improving, and second, the export demand is also increasing the drive of industry and manufacturing production.

　　"With the upgrading and development of China’s industry, the investment potential of manufacturing industry is huge, especially the integration of informatization, big data, artificial intelligence and manufacturing industry, which has broad prospects in the future. However, we must also see that as China’s economy enters a new stage of development, the constraints of resource elements are increasing and the investment cost is increasing, which will also affect the return and income of investment. " Fu Linghui said.

　　Looking at import and export, in November, the total import and export of goods was 3,091.9 billion yuan, up 7.8% year-on-year, and the growth rate was 3.2 percentage points faster than that of the previous month. Fu Linghui believes that the stability of China’s production and supply has obvious advantages in the world, which is conducive to helping the global anti-epidemic and meeting external market needs. With the gradual recovery of the domestic economy, imports are expected to increase, and the basic conditions for China’s import and export situation to remain stable in the future are available.

　　From the perspective of market players, the vitality is increasing and the expectation is improving. The effect of streamline administration, delegate power, strengthen regulation and improve services’s reform continues to show. Since the beginning of this year, new market players have continued to maintain double-digit growth year-on-year; In the first 10 months, the profit growth rate of industrial enterprises above designated size turned positive year-on-year, and the growth rate in that month reached double digits, indicating that the efficiency of enterprises was improving. In terms of market expectations, the manufacturing PMI in November was 52.1%, and the non-manufacturing business activity index was 56.4%, both of which were new highs in the year.

　　While the economy continues to recover, employment and people’s livelihood have also been strongly guaranteed. Fu Linghui said that in November, the urban survey unemployment rate continued to drop by 0.1 percentage points from the previous month, which was close to the same period last year. Among them, the survey unemployment rate of the employed population was 4.7%, which also dropped by 0.1 percentage point from last month. Food prices continued to fall, and the effect of ensuring supply and stabilizing prices continued to appear in November.

　　"From the main data in November, the growth of economic operation in the fourth quarter is expected to continue to accelerate compared with the third quarter, because both production and demand are steadily picking up. Throughout the year, China’s economy is expected to become the only economy in the world that has achieved positive growth. " Fu Linghui said. (Economic Daily-China Economic Net reporter Xiong Li)