91,302.7 billion yuan, 83.2% … Read the great resilience, potential and vitality of China’s economy from multiple sets of data.

CCTV News:The National Bureau of Statistics released the main data of the national economy in the first three quarters of this year on October 18th. How to treat the economic growth rate of China in the first three quarters? On the whole, how has our production and demand recovered? What about the economic transformation and upgrading and the growth of new kinetic energy? Let’s look at the analysis and interpretation of experts.

According to preliminary accounting, the GDP in the first three quarters was 91,302.7 billion yuan, with a year-on-year increase of 5.2% at constant prices.

Liu Aihua, Chief Economist of National Bureau of Statistics:Judging from the trend of economic operation, the trend of stabilization and improvement in the third quarter of this year is further manifested. In the third quarter, the GDP grew by 4.4% on average for two years, 1.1 percentage points faster than that in the second quarter. In August and September, many major indicators showed a good recovery trend, which I think further consolidated the recovery trend of the main economy.

The recovery of the consumer market has accelerated.

From the demand side, after the economy and society fully resumed normal operation, the recovery pace of consumption, especially contact consumption, which was greatly affected by the epidemic in the early stage was obviously accelerated. Take the Spring Festival, May Day, Dragon Boat Festival, summer vacation and other holidays as an example. Since the beginning of this year, there has been a strong demand for people to travel during the holidays, which has driven the rapid growth of accommodation, catering, transportation, entertainment and other consumption, providing a strong support for economic recovery.

Liu Aihua, Chief Economist of National Bureau of Statistics:This year, the overall demand for goods sales and services in various holidays showed a recovery trend, which was reflected in statistics. In the third quarter, the accommodation and catering industry increased by 12.7% year-on-year, achieving double-digit growth; The added value of transportation, warehousing and postal services increased by 8.5% in the quarter.

Not only contact consumption, this year, China has also introduced a series of policies and measures to promote consumption in key areas such as home, automobiles and electronic products, and expand domestic demand by means of policy "combination boxing". In the first three quarters, the total retail sales of social consumer goods increased by 6.8% year on year, and the contribution rate of consumption to economic growth reached 83.2%.

Liu Aihua, Chief Economist of National Bureau of Statistics:Online consumption has also continued to maintain rapid growth, and the performance of upgraded consumption is more prominent, such as the consumption of sports and entertainment products, including gold, silver and jewelry, which are more prominent in the overall retail.

High-quality development has been solidly promoted.

Judging from the relevant data of production and demand, in the first three quarters of this year, China’s domestic demand expanded steadily, and the growth of production and supply accelerated. While China’s economic operation returned to the normal growth track, high-quality development was also solidly promoted.

Since the beginning of this year, the domestic large aircraft C919 has completed its first commercial flight, and the world’s first 16 MW offshore wind turbine has been hoisted. Scientific and technological innovation has continued to empower high-quality development, and innovative achievements have emerged.

In the first three quarters, investment in high-tech industries increased by 11.4%, and high-end manufacturing industries maintained rapid growth, which strengthened the foundation for the development of the real economy. Driven by the development of digital economy, new formats continued to be active, and online retail sales of physical goods increased by 8.9% year-on-year.

Guo Liyan, Director of Situation Office of Decision-making Consulting Department of China Macroeconomic Research Institute:According to our field research, the systematic innovation of new products, new technologies, new models and new formats in some major regions and the "four new economies" has become a new growth point of the local economy, and even a new industrial pillar of the local area. Strategic emerging industries, future industries, and the accelerated development of this cluster at present all constitute very important aspects of new quality productivity.

With the deepening of China’s economic green transformation, new energy vehicles and photovoltaic industries have maintained rapid growth, injecting new vitality into industrial development. In the first three quarters, the output of solar cells, charging piles and new energy vehicles increased by 63.2%, 34.2% and 26.7% respectively. The export value of "new three" products represented by lithium batteries, solar cells and electric manned vehicles increased by 41.7% year-on-year, which has maintained double-digit growth for 14 consecutive quarters.

Guo Liyan, Director of Situation Office of Decision-making Consulting Department of China Macroeconomic Research Institute:At present, the positive factors and favorable conditions supporting the economic recovery and further consolidating the recovery are obviously increasing. Judging from this effect of economic operation in the first three quarters, combined with the case analysis of our local investigation, we think that we have more confidence and confidence in achieving the expected growth target of about 5% this year.