Since this year，In the face of a complex and changing international environment and arduous domestic reform and development tasks，在以习近平同志为核心的党中央坚强领导下，各地区各部门Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era，Adhere to the general principle of seeking progress while maintaining stability，In accordance with the requirements of high-quality development，We will focus on supply-side structural reform，We will work hard to implement the principles of the Central Economic Work Conference and the arrangements made in the government Work report，Deepen reform and opening up，Strengthen innovation drive，Effectively respond to challenges，Economic performance has become more stable and coordinated，Remarkable results have been achieved in transformation and upgrading，New growth drivers are growing vigorously，Quality and efficiency continued to improve，The economy maintained a steady and sound trend，Good start to high-quality development。 

1. The national economy performed steadily and the foundation for a sound development was continuously consolidated 

Since the beginning of this year, a series of policies and measures to stabilize growth, promote reform, make structural adjustments, improve people's livelihood, and guard against risks have continued to exert their effectiveness. Policies to support the development of the real economy, such as tax cuts and burden reduction, have been strengthened, and the economy has shown a good pattern of steady growth, more employment, moderate inflation, and improved international balance of payments。

First, production is stable, the market is vibrant, and economic growth is more resilient。According to preliminary calculations, the GDP in the first quarter grew year-on-year6.8%The growth rate was unchanged from the fourth quarter of last year, continuously11The quarter stays in6.5-6.9%The stability of growth has been further improved。In terms of production, the situation in agriculture is good, industrial production is accelerating, and the service sector is growing rapidly。The winter wheat harvest is almost over, and the summer grain production is expected to have a good harvest。1-5In October, the value added of industrial enterprises above designated size increased year-on-year6.9%The growth rate is faster than that of the same period last year0.2A percentage point;Service sector production grew exponentially8.1%Continue to maintain rapid growth。From the perspective of domestic demand, market sales grew rapidly, and investment was basically stable。1-5In October, total retail sales of consumer goods increased year-on-year9.5%Continue to maintain rapid growth;Investment in fixed assets (excluding rural households) increased6.1%The growth rate is lower than that of the same period last year, but investment in short-board areas is growing rapidly, and the momentum of economic development is strengthening。 

Second, the surveyed unemployment rate fell and the employment situation continued to improve。1-4In October, new urban jobs were created nationwide471Ten thousand people, more than last year6万人。The surveyed unemployment rate remains low。5In October, the surveyed urban unemployment rate was4.8%, down from last month0.1Percentage points, down from the same month last year0.1A percentage point;31The surveyed unemployment rate of a large city town is4.7%, unchanged from the previous month and down from the same month last year0.1Percentage point。 

Third, market supply and demand remained stable on the whole, and prices continued to rise moderately。Consumer prices rose slightly。1-5In October, consumer prices rose year-on-year2.0%, increase ratio1-4Monthly pullback0.1Percentage point。Don't look at the categories, food prices rose year-on-year1.4%Non-food prices rose2.2%。5In October, consumer prices rose year-on-year1.8%The increase is unchanged from the previous month;The core excludes food and energy pricesCPI上涨1.9%The increase fell from the previous month0.1Percentage point。The year-on-year increase in producer prices slightly expanded。1-5Producer prices rose year on year in October3.7%, increase ratio1-4Monthly expansion0.1Percentage point。5Producer prices rose year on year in October4.1%The increase was larger than the previous month0.7Percentage point。

　　Fourth, imports and exports grew rapidly, and the overall balance of payments improved。The surplus of trade in goods narrowed。1-5Total imports and exports of goods in China116320100 million yuan, a year-on-year increase8.8%。Among them, export61409Billions of dollars, growth5.5%；进口54911Billions of dollars, growth12.6%。The surplus of trade in goods is6498100 million yuan, narrowing year-on-year31%Imports and exports have become more balanced。The scale of utilizing foreign capital is greater than outbound investment。1-5In October, the actual amount of foreign capital used in China527$100 million, up from a year earlier3.6%;Foreign direct investment479Billion dollars, growth38.5%。Foreign exchange reserves remained basically stable。5Balance of foreign exchange reserves at the end of month31106$100 million, down from the end of last month142$100 million. Keep it up3Over one trillion dollars。

Second, supply-side structural reform was deepened, and economic development became more coordinated

Since the beginning of this year, the whole country has vigorously promoted supply-side structural reform, vigorously eliminated ineffective and inefficient supply, actively developed new industries, new forms of business, and new models, deepened the reform of "decentralized services", further increased tax and fee reductions, promoted the development of the real economy, and vigorously promoted the adjustment and optimization of industrial, demand and regional structure。

First, supply-side structural reform has made solid progress and achieved continuous results。Market-based and law-based overcapacity cuts were solid and effective, low-end ineffective supply was reduced, and advanced production capacity was released in an orderly manner。In the first quarter, the utilization rate of industrial capacity above designated size was76.5%Compared with the same period last year0.7Percentage point。The operating conditions of enterprises continued to improve, and the micro-leverage ratio declined。4At the end of the month, the asset-liability ratio of industrial enterprises above designated size was56.5%, down from a year earlier0.7Percentage point。The tax and fee reduction policy has shown dividends and reduced enterprise costs。1-4In October, the cost per 100 yuan of main business income of industrial enterprises above designated size was84.52Yuan, down from a year earlier0.21元。Investment in areas with weak links increased, and investment in agriculture, the environment, and public facilities grew rapidly。1-5In October, investment in the ecological protection and environmental governance industry, agriculture, and public facilities management industry increased respectively36.7%、16.1%和8.6%Respectively faster than the total investment30.6、10.0和2.5Percentage point。

Second, the industrial structure has been continuously optimized, and its development has moved toward the medium-high end。The service sector has maintained a good momentum of development。Policies to support the development of the service sector have been continuously improved, and demand for productive and household services has expanded rapidly, driving rapid growth in the service sector。In the first quarter, the added value of the tertiary industry increased year-on-year7.5%The growth rate is faster than that of the secondary industry1.2A percentage point;As a percentage of gross domestic product56.6%It is higher than the secondary industry17.6A percentage point;The contribution rate to economic growth is61.6%It is higher than the secondary industry25.5Percentage point。The modern service industry is booming。1-4In October, the operating income of strategic emerging services, science and technology services, and high-tech services increased respectively18.2%、17.8%和16.0%The growth rate is faster than that of all services above designated size4.4、4.0和2.2Percentage point。Industrial upgrading was accelerated。The integration of industrialization and IT application has accelerated, market research and development and technological innovation have intensified, and capital and technology-intensive industries, represented by high-tech and equipment manufacturing, have developed rapidly。1-5In October, the added value of high-tech manufacturing and equipment manufacturing increased respectively year-on-year12%和9.3%The growth rate is faster than that of all industries above designated size5.1和2.4Percentage point。

Third, demand has accelerated and its driving role has been strengthened。The momentum of consumption upgrading is obvious。5In October, the retail sales of communication equipment, household appliances and audio and video equipment of units above the quota increased respectively year-on-year12.2%和7.6%Respectively, the growth rate accelerated from the previous month1.4和0.9A percentage point;Retail sales of cosmetics were maintained10%Above rapid growth。The tourism market continues to be active, and the number of domestic tourists received throughout the country during the "May Day" period increased year-on-year9.3%To achieve domestic tourism revenue growth10.2%。The investment structure has been continuously improved。1-5In October, investment in high-tech industries increased year-on-year10.5%The growth rate is faster than all investment4.4Percentage point。Among them, investment in high-tech manufacturing increased9.7%Is growing faster than all manufacturing investment4.5A percentage point;Investment in high-tech services increased12.2%, faster than all services investment4.5Percentage point。The rapid growth of investment in weak links and key areas will strongly promote the improvement of the supply structure and the quality of supply。

Fourth, the regional structure continued to improve, and the effect of coordinated development increased。The "four major sectors" have positive interactions。The eastern region has seen steady growth and played a clear role in supporting and leading。1-5In October, the industrial added value above designated size in the eastern region increased year-on-year6.7%Investment in fixed assets increased5.7%。The central region continues to show its advantages as a latecomer, growing faster than the eastern region。1-5In October, the industrial added value above designated size in the central region increased year-on-year7.8%Investment in fixed assets increased9.3%Respectively faster than the eastern region1.1和3.6Percentage point。Northeast China's economy continues to pick up。1-5In October, the industrial added value above designated size in Northeast China increased year-on-year5.7%The growth rate is faster than that of the same period last year4.9A percentage point;Investment in fixed assets increased2.2%That was down from a year earlier14.4%。The "Three strategies" were thoroughly implemented。The construction of the "Belt and Road" is progressing steadily, and economic and trade activities between China and countries along the routes are becoming more active。1-5In October, China's imports and exports to countries along the "Belt and Road" increased year-on-year11.1%The growth rate is faster than all imports and exports2.3A percentage point;Chinese enterprises along the "Belt and Road"54Non-financial direct investment in each country59.3$100 million, up from a year earlier8.2%。The outline of the plan for the Xiongan New Area in Hebei was issued, and the ecological protection pattern of the Yangtze River Economic Belt was continuously improved。

Third, we will resolutely fight the three key battles and make initial progress in strengthening weak areas

Since the beginning of this year, in accordance with the requirements of the central government to make every effort to fight the three major battles, we have focused on preventing and resolving risks and hidden dangers, intensified targeted poverty alleviation, and continuously strengthened ecological and environmental protection, and achieved positive results。

First, the growth momentum of potential risks and hidden dangers has been contained。Macro leverage is stabilizing。2017Last year, China's macro leverage ratio rose by2.7A percentage point over2012-2016The annual average increase rate is low10.8Percentage point。Judging from the situation this year, the macro leverage ratio is expected to further improve。At the same time, the asset management business of financial institutions continued to be rectified and standardized, the supervision of shadow banking and Internet finance was strengthened, and the disposal of non-performing assets of banks was intensified。5At the end of the month, the non-performing loan ratio of commercial banks was1.9%, keep it low。

2) Positive progress was made in poverty alleviation。Focusing on key tasks, key regions, and key groups, we have adhered to a precise strategy, continued to increase assistance to the "three regions and three states" and other deeply impoverished areas, and steadily promoted poverty alleviation in finance, industry, employment, education, and health. Rural residents' income in poor areas has grown rapidly, and poverty alleviation has made continuous progress。The per capita disposable income of rural residents in poor areas increased year on year in the first quarter11%Real growth after deducting price factors8.8%The growth rate is faster than the per capita disposable income of rural residents in the country2Percentage point。

3) Ecological and environmental quality continued to improve。The proportion of clean energy consumption increased。In the first quarter, the proportion of clean energy consumption such as natural gas, hydropower, nuclear power and wind power increased compared with the same period last year1.6Percentage point。The overall efficiency of energy and resources utilization has been improved。In the first quarter, the gross domestic product of 10,000 yuan (2015Energy consumption decreased year on year3.2%。Air quality improvement。According to the monitoring data of the Ministry of Ecology and Environment,1-5Month, nationwide338The average number of days with good air quality in prefecture-level and above cities is78.1%, up from a year earlier2.5A percentage point;PM2.5The concentration is...48微克/Cubic meters, down year-on-year7.7%；PM10The concentration is...85微克/Cubic meter, down2.3%。

Fourth, innovation-driven results were outstanding, and new drivers of development grew rapidly

 Since the beginning of this year, all regions and departments have implemented the strategy of innovation-driven development, vigorously optimized the innovation ecology, continuously improved the innovation environment, further opened up, and significantly enhanced the vitality of social innovation and creativity。

 First, new entities and new achievements are emerging。The reform of the management service has continued to advance, and the construction of the entrepreneurial service system has been continuously strengthened, which has spawned a large number of new market players and increasingly become an important force for China's innovation and development。1-5In October, newly registered enterprises in the country265Ten thousand households, a year-on-year increase12.3%, daily new registration1.76万户。The scientific and technological innovation system has been continuously improved, social investment in research and development has continued to increase, and the number of invention patents has increased rapidly。1-5In October, the number of domestic invention patent applications reached56Ten thousand pieces, authorized quantity13.9万件；PCTNumber of international patent applications accepted17331Pieces, year-on-year growth10.5%。

 Second, new industries and new products grew rapidly。New industries, representing a new round of technological revolution and industrial transformation, are growing stronger and playing a greater role in driving overall economic and social development。In the first quarter, the added value of industrial strategic emerging industries increased year-on-year9.6%The growth rate is faster than all industries above designated size2.8Percentage point。1-5In the high-tech manufacturing industry, the added value of the pharmaceutical manufacturing industry, electronic and communication equipment manufacturing industry, medical equipment and instrumentation manufacturing industry increased respectively year-on-year11%、15.1%和10.1%The growth rate is faster than that of industries above designated size4.1、8.2和3.2Percentage point。The rapid development of low-carbon, intelligent, networked and information technology has promoted a large increase in new products。1-5In October, the output of new energy vehicles increased year-on-year85.8%Industrial robots grow33.7%Smart TV growth23.2%。3DPrinting equipment, bio-based chemical fibers, monocrystalline silicon, graphene and other products have grown rapidly。

 Third, new business forms and models are constantly expanding。New technologies such as sorting robots, drone allocation, and facial recognition payments are gradually emerging, "the Internet+Deep integration with various industries and fields, new formats such as online shopping and platform economy are growing rapidly, and new models such as live teaching and telemedicine are quietly emerging, injecting new vitality into China's economic development。Related industries, such as online retailing and delivery, are growing rapidly。1-5Online retail sales across the country increased year-on-year in October30.7%;Complete the express business volume178.5Billions of pieces, growth28.3%。The revenue of information services and e-commerce industries grew rapidly。1-4In October, the information service revenue of Internet and related service enterprises above designated size increased year-on-year23.8%E-commerce platform revenue growth40.4%。

Fifth, the personal income of enterprises and governments has increased, and the economic efficiency has been significantly improved

Since the beginning of this year, in accordance with the decisions and arrangements of the CPC Central Committee, all regions and departments have focused on the major problems and major problems that constrain economic growth, worked hard to revitalize the real economy, energize the market, and ensure and improve people's livelihood。

First, the operating conditions of enterprises continued to improve。The effects of tax and fee reductions continue to show, and the business environment continues to improve, promoting the development of enterprises。The profitability of industrial enterprises has increased。1-4In October, the profits of industrial enterprises above designated size increased year-on-year15%The growth rate accelerated from the first quarter3.4Continue to maintain double-digit growth;The profit margin of main business income is6.24%Compared with the same period last year0.24Percentage point。Enterprise capital turnover accelerated。4At the end of the month, the turnover days of finished goods inventory of industrial enterprises above designated size were16.4That's down from a year ago0.5Days;The average collection period of accounts receivable is45.5Days, less0.1天。The profits of service enterprises grew rapidly。1-4In October, the operating income of service enterprises above designated size increased year-on-year13.8%Operating profit increased8.4%。

2) Fiscal revenue grew rapidly。The economy has maintained steady growth, corporate profits have improved, and imports and exports have grown rapidly, strongly supporting the growth of government revenue。1-5National general public budget revenue86650100 million yuan, a year-on-year increase12.2%The growth rate is faster than that of the same period last year2.2Percentage point。Among them, tax revenue76810Billions of dollars, growth15.8%，加快5.2Percentage point。From the perspective of major revenue items, domestic value-added tax increased year-on-year19.0%That was down from a year earlier1.9%;Domestic consumption tax increase21.1%The growth rate is faster than that of the same period last year13.8A percentage point;Individual income tax increase20.6%，加快2.6Percentage point。

Third, personal income increased steadily。The employment situation has improved, poverty alleviation has made solid progress, people's livelihood has been improved, and the people have received more benefits。National per capita disposable income in the first quarter7815Yuan, real growth after deducting price factors6.6%Continues to grow faster than per capitaGDP增速。Among them, per capita disposable income of urban residents10781Yuan, real growth5.7%;Per capita disposable income of rural residents4226Yuan, real growth6.8%Continue to grow faster than urban income。

6. Market expectations are stable and improving, and confidence in development is growing

Since the beginning of this year, the production and development market has been active, the efficiency of enterprises has improved, the employment situation has improved, and the people's livelihood has been strengthened, which has promoted the improvement of confidence in market development。

First, manufacturingPMIMaintain expansion。5Manufacturing Purchasing Managers Index (PMI）为51.9%, up from last month0.5That's up from a year earlier0.7A percentage point, for2017年10Monthly high。Both sides of supply and demand coordinated efforts, the market activity increased。5In October, the production index and the new orders index were respectively54.1%和53.8%Respectively up from the previous month1和0.9Percentage points, both highs for the year。

Second, the non-manufacturing business activity index continues to be in a higher boom range。5In October, the non-manufacturing business activity index was54.9%, up from last month0.1That's up from a year earlier0.4Percentage point。Among them, the service business activity index is54%, up from last month0.2Percentage point。From the perspective of industry categories, the business activity index of railway transport industry, air transport industry, postal express industry, telecommunications, radio and television and satellite transmission services, Internet software information technology services and other industries are located in60.0%Above the high boom interval, maintain the momentum of expansion。

Third, consumer confidence continues to strengthen。5In October, the consumer confidence index was122.9, unchanged from the previous month, higher than2012Year-to-year mean16.1点。Among them, the satisfaction index reflecting consumers' views on the current situation is118.1, up from last month0.6Point, above2012Year-to-year mean16.7点。From the perspective of composition, the consumer income confidence index, employment confidence index and consumption willingness index are respectively120.9、126.4和114.3All are at a historically high level。

Overall, since the beginning of this year, China's economic stability has been consolidated, its quality and efficiency have steadily improved, and development has become more stable, coordinated, inclusive and sustainable。这是全国各族人民坚持Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era，砥砺奋进、奋力拼搏的结果，是供给侧结构性改革深入推进，经济发展质量、效率、动力有效提升的结果，是一系列改革创新政策举措持续发力的结果。Of course, we must also see that instability and uncertainty in the international environment are on the rise, and domestic development is still unbalanced and inadequate。我们要更加紧密地团结在以习近平同志为核心的党中央周围，Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era，We will fully implement the principles of the 19th CPC National Congress and the second and Third Plenary Sessions of the 19th CPC Central Committee，We will earnestly implement the guiding principles of the Central Economic Work Conference，Deploy in accordance with the government work report，Adhere to the general principle of seeking progress while maintaining stability，Adhere to a new vision for development，We will deepen supply-side structural reform，We will vigorously implement innovation-driven policies，We will further expand reform and opening up，We will continue to strengthen the internal driving force for development，Promoting high-quality economic development。