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In October, in the face of the complicated international situation and downward pressure on the domestic economy, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at the core, all regions and departments conscientiously implemented the decisions and deployments of the Party Central Committee and the State Council, fully implemented the new development concept, and followed high quality Development requirements, adhere to the main line of supply-side structural reforms, vigorously deepen reforms and expand opening up, and increase counter-cyclical adjustments, efforts have been made to stabilize employment, finance, foreign trade, foreign investment, investment and expectations, with overall stable economic performance and steady progress in structural adjustment.

The 1. service industry grew steadily, and the modern service industry grew well.

From January to October, the national service industry production index increased by 7.0, the same as from January to September. In October, the national service industry production index increased by 6.6 year-on-year, and the growth rate was 0.1 percentage points lower than the previous month. The production index of information transmission, software and information technology services, leasing and business services increased by 16.9 and 11.3, respectively, faster than the national service industry production index of 10.3 and 4.7 percentage points. The business activity index of the service industry is 51.4 per cent, continuing to be above the line of prosperity and decline, while the business activity index of the air transport, postal services, Internet software and information technology services industries is in the higher business climate range of more than 55.0 per cent. The expected index of business activities in the service sector was 60.3 per cent, up 1.0 percentage points from the previous month.

2. industry continues to grow, new industries and new products grow faster

From January to October, the added value of industries above designated size nationwide increased by 5.6, and the growth rate was the same as that from January to September. In October, the added value of industries above designated size nationwide increased by 4.7 year-on-year, and the growth rate was 1.1 percentage points lower than the previous month. In terms of economic types, the added value of state-controlled enterprises increased by 4.8 per cent, joint-stock enterprises by 5.4 per cent, and foreign and Hong Kong, Macao and Taiwan-invested enterprises by 2.1 per cent. In three major categories, the value added of the mining industry increased by 3.9 per cent, the manufacturing industry by 4.6 per cent, and the production and supply of electricity, heat, gas and water by 6.6 per cent. The added value of high-tech manufacturing increased by 8.3, 3.6 percentage points faster than that of industries above designated size; among them, medical equipment and instrument manufacturing, electronic and communication equipment manufacturing, and pharmaceutical manufacturing increased by 14.0, 8.5, and 7.0, respectively. 9.3, 3.8 and 2.3 percentage points faster than industries above designated size. The output of optical fiber, solar cell and microcomputer equipment increased by 59.4 per cent, 28.4 per cent and 9.4 per cent, respectively. In the manufacturing purchasing managers' index (PMI) sub-index, the production index and supplier delivery time index were 50.8 per cent and 50.1 per cent, respectively, both above the threshold. The expected index of manufacturing production and business activities is 54.2 per cent, in the higher business climate range.

3. market sales have expanded steadily, and online retail sales of goods and service consumption have been booming.

From January to October, the total retail sales of consumer goods was 33477.8 billion billion yuan, an increase of 8.1 percent, and the growth rate was 0.1 percentage points lower than that in January-September. In October, the total retail sales of consumer goods was 3810.4 billion billion yuan, an increase of 7.2 percent over the same period last year, and the growth rate was 0.6 percentage points lower than that of the previous month. Among them, the total retail sales of consumer goods excluding automobiles increased by 8.3. According to the location of the business unit, the retail sales of urban consumer goods 3274.4 billion yuan, an increase of 7.0; the retail sales of rural consumer goods 536 billion yuan, an increase of 8.6. By consumption type, food and beverage revenue was 436.7 billion yuan, up 9.0 percent, while retail sales of goods were 3373.7 billion yuan, up 7.0 percent. Consumer upgrading commodities grew rapidly. Communication equipment and sports and entertainment products of units above the quota increased by 22.9 and 11.5 respectively, 15.7 and 4.3 percentage points faster than the growth rate of total retail sales of all social consumer goods. Domestic tourism revenue and total national film box office revenue continued to grow rapidly.

From January to October, the national online retail sales were 8230.7 billion billion yuan, an increase of 16.4 percent over the same period last year, and the growth rate was 0.4 percentage points lower than that in January-September. Among them, online retail sales of physical goods were 6517.2 billion billion yuan, an increase of 19.8 percent, accounting for 19.5 percent of the total retail sales of consumer goods, an increase of 2.0 percentage points over the same period last year.

The growth of 4. investment is generally stable, and investment in high-tech industries and social fields continues to grow rapidly.

From January to October, the national fixed asset investment (excluding farmers) was 51088 billion billion yuan, an increase of 5.2 percent over the same period last year, and the growth rate was 0.2 percentage points lower than that in January-September. In terms of different fields, infrastructure investment increased by 4.2, manufacturing investment increased by 2.6, and real estate development investment increased by 10.3. The sales area of commercial housing nationwide was 1332.51 million square meters, up 0.1 percent year-on-year; the sales of commercial housing was 12441.7 billion billion yuan, up 7.3 percent. In terms of industries, investment in the primary industry fell by 2.4, investment in the secondary industry increased by 2.3, and investment in the tertiary industry increased by 6.8. Private investment was 29152.2 billion billion yuan, up 4.4 percent. From January to October, investment in high-tech industries increased by 14.2 per cent year-on-year, 9.0 percentage points faster than total investment, with investment in high-tech manufacturing and high-tech services increasing by 14.5 per cent and 13.7 per cent respectively over the same period last year. Investment in the social sector increased by 12.9 per cent year-on-year, with investment in education, culture, sports and entertainment increasing by 18.0 per cent and 13.8 per cent respectively.

5. new jobs ahead of full-year target, survey unemployment rate down slightly

From January to October, 11.93 million new jobs were created in cities and towns across the country, achieving the goal of more than 11 million new jobs in cities and towns for the whole year ahead of schedule. In October, the national urban survey unemployment rate was 5.1 percent, down 0.1 percentage points from the previous month. Among them, the unemployment rate for the population aged 25-59 was 4.6 per cent, the same as last month. The surveyed urban unemployment rate in 31 major cities was 5.1 per cent, down 0.1 percentage points from the previous month. The average weekly working time of employees in enterprises nationwide was 46.8 hours, an increase of 0.1 hours over the previous month.

6. consumer price increases widen, industrial producer prices fall

In October, national consumer prices rose 3.8 percent year-on-year, an increase of 0.8 percentage points over the previous month and 0.9 percent month-on-month. By category, food, tobacco and alcohol prices rose 11.4 per cent year-on-year, clothing rose 1.2 per cent, housing rose 0.5 per cent, household goods and services rose 0.6 per cent, transport and communications fell 3.5 per cent, education, culture and entertainment rose 1.9 per cent, health care rose 2.1 per cent, and other goods and services rose 5.5 per cent. Among food, tobacco and alcohol prices, food prices rose by 0.5 per cent, pork by 101.3 per cent, fresh vegetables by 10.2 per cent and fresh fruits by 0.3 per cent. The core CPI, excluding food and energy prices, rose 1.5 percent, unchanged from the previous month. From January to October, consumer prices nationwide rose 2.6 percent year-on-year.

In October, the country's industrial producer prices fell 1.6 percent year-on-year and rose 0.1 percent month-on-month. Industrial producer purchase prices fell 2.1 per cent year-on-year and rose 0.2 per cent month-on-month. From January to October, factory prices for industrial producers fell 0.2 per cent year-on-year, while purchase prices for industrial producers fell 0.5 per cent.

7. exports from decline to rise, trade structure further optimized

In October, the total import and export volume was 2707.1 billion billion yuan, down 0.5 percent from the same period last year, 2.7 percentage points lower than the previous month. Among them, exports were 1504.2 billion billion yuan, up 2.1 percent year-on-year, down 0.7 percent last month, while imports were 1202.9 billion billion yuan, down 3.5 percent, 2.5 percentage points lower than the previous month. Imports and exports offset each other, with a trade surplus of 301.3 billion yuan. The scale of trade continues to expand. From January to October, the total import and export volume was 25627.3 billion yuan, up 2.4 percent. Among them, exports were 13984 billion yuan, up 4.9 percent, while imports were 11643.2 billion yuan, down 0.4 percent. The trade structure continued to be optimized. The import and export of general trade increased by 4.8 percent, accounting for 59.3 percent of the total import and export, an increase of 1.4 percentage points over the same period last year. The import and export of private enterprises increased by 10.3 percent, accounting for 42.4 percent of the total import and export, an increase of 3 percentage points over the same period last year. Industrial enterprises above designated size realized export delivery value of 10113.9 billion billion yuan, up 1.8 year on year.

8. supply-side structural reform continues to advance, emerging industry profits grow faster

The micro leverage ratio declined, and at the end of September, the asset-liability ratio of industrial enterprises above designated size was 56.9 percent, down 0.3 percentage points year-on-year. The inventory of commercial housing decreased. At the end of October, the area of commercial housing for sale nationwide was 493.23 million square meters, down 6.6 percent from the same period last year and 230000 square meters less than at the end of September. Enterprise unit costs continued to decline from the beginning of the year. Investment in short-board areas increased. From January to October, investment in ecological protection and environmental governance, environmental monitoring and governance services increased by 37.4 and 32.7 respectively compared with the same period last year, faster than the total investment 32.2 and 27.5 percentage points respectively.

From January to September, the operating income of service enterprises above designated size increased by 9.3 year-on-year. Among them, the strategic emerging service industry, high-tech service industry and technology service industry increased by 11.8, 11.4 and 11.2 respectively, which were faster than all above designated size. Service industry 2.5, 2.1 and 1.9 percentage points; service industry enterprises above designated size achieved a year-on-year increase of 3.7 in operating profit. From January to September, the total profits of industrial enterprises above designated size across the country fell by 2.1 year-on-year. Among them, the electrical machinery and equipment manufacturing industry, special equipment manufacturing industry, and non-metallic mineral products industry increased by 13.5, 12.9, and 11.8 respectively. Industrial enterprises achieved a year-on-year increase of 4.5 percent in operating income.

At the same time, we should be soberly aware that the current global economic growth is slowing down, there are many external unstable and uncertain factors, domestic cyclical problems and structural contradictions are superimposed, and the downward pressure on the economy continues to increase. We must adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, adhere to the bottom line thinking, adhere to the general tone of seeking progress while maintaining stability, focus on implementing various policies that have been issued, do a good job in policy coordination and linkage, enhance the resilience of economic development, and withstand The downward pressure on the economy, promote stable employment growth, maintain basic price stability, do a solid job in ensuring people's livelihood, and strive to complete the main goals and tasks for the smooth economic operation next year.

(Source: National Bureau of Statistics)