The National Development and Reform Commission (NDRC) held a press conference on June 18. When introducing the current economic situation, relevant officials stated that in May, as various macro policies continued to take effect, China's economy maintained its recovery and positive momentum. Although some individual indicators fluctuated, overall, most indicators improved compared with the previous month.

　　"Improvement" — Most macroeconomic indicators improved in May compared with the previous month

　　NDRC spokesperson Li Chao introduced that in May, production maintained relatively rapid growth and enterprise efficiency improved. The value-added growth rates of the equipment manufacturing industry and high-tech manufacturing industry were 1.9 and 4.4 percentage points faster than that of overall industry, respectively.

　　At the same time, domestic demand continued to be released, and foreign trade exports showed good growth momentum. The 1 trillion yuan of additional government bond projects issued in 2023 were accelerated, and as of the end of May, the project start rate had exceeded 80%.

　　In the first five months, China's employment situation was generally stable, and the price level rose steadily. In May, the urban surveyed unemployment rate was 5.0%, unchanged from the previous month and 0.2 percentage points lower than the same period in 2023. Consumer prices rose year on year, and producer prices for industrial products turned from decline to increase month on month, reversing the continuous decline since November last year. Next, the NDRC will take multiple measures to continue consolidating the recovery and positive momentum.

　　"New additions" — China will add 3,000 charging piles at highway service areas nationwide in 2024

　　The NDRC press conference held on June 18 introduced that in 2024, China will accelerate the optimization of the charging pile network layout, with a national plan to add 3,000 charging piles at highway service areas.

　　Li Chao introduced that as of the end of May 2024, the total number of charging infrastructure nationwide reached 9.92 million units, a year-on-year increase of 56%. China has built the world's largest charging infrastructure system in terms of quantity, service coverage, and variety of types. In the future, new energy vehicles will continue to maintain relatively rapid growth, and China will continue to optimize and improve the charging network layout.

　　Li Chao introduced that in terms of intercity travel, the focus is on accelerating the construction of charging and battery-swapping infrastructure along highways. In 2024, the national plan is to add 3,000 charging piles and 5,000 charging parking spaces at highway service areas. In terms of cities, the focus is on combining urban physical examinations, renovation of old urban residential communities, and pilot projects for complete community construction to advance the construction and renovation of community charging facilities according to local conditions. In terms of counties and rural areas, support for the construction of charging infrastructure in rural areas will be increased, and demonstration counties and demonstration townships for the construction and application of charging infrastructure will be organized.

　　At the same time, China will also improve operational service levels. China will accelerate the construction of the national charging facility monitoring service platform, improve the "check anytime" information service for high-speed charging infrastructure, advance core technology research on vehicle-grid interaction, strengthen the construction and renovation of distribution networks, implement and improve time-of-use peak-valley electricity pricing policies, and increase support for land use and financing to better guarantee the people's green travel needs.

　　"Growth" — National industrial power generation above designated size increased by 5.5% year on year

　　The reporter learned from the NDRC on June 18 that from January to May, national industrial power generation above designated size totaled 3,657 billion kWh, a year-on-year increase of 5.5%.

　　From the perspective of electricity consumption, from January to May, nationwide total electricity consumption increased by 8.6% year on year. Among them, electricity consumption in the primary, secondary, and tertiary industries and for residential living increased by 9.7%, 7.2%, 12.7%, and 9.9%, respectively. Electricity consumption growth in eight provinces (autonomous regions and municipalities) across the country exceeded 10%.

　　"Balanced" — China's foreign exchange market operated generally steadily in May

　　The State Administration of Foreign Exchange announced on June 17 the operation of China's foreign exchange market in May. Relevant data show that China's cross-border capital flows tended toward balance, and the foreign exchange market operated generally steadily.

　　Data from the State Administration of Foreign Exchange show that in May, banks settled 176 billion US dollars and sold 191.9 billion US dollars in foreign exchange; from January to May, banks cumulatively settled 891.9 billion US dollars and cumulatively sold 970.7 billion US dollars.

　　In May, net cross-border capital inflows under goods trade increased by 23% year on year and 76% month on month, with the scale of net inflows reaching a monthly high since the second half of 2023, continuing to play the fundamental role of stabilizing cross-border capital flows. At the same time, foreign investors had a relatively strong willingness to allocate RMB assets. In May, they net purchased 32 billion US dollars of domestic bonds, up 86% month on month, at a relatively high historical level. In addition, domestic entities' various outbound investments became more stable and orderly.

　　"Recovery and positive momentum" — The national economy operated generally steadily in May

　　The State Council Information Office held a press conference on June 17, at which the National Bureau of Statistics introduced the current economic situation. In May, the national economy operated generally steadily and continued the recovery and positive momentum.

　　Data released by the National Bureau of Statistics show that in May, production and supply increased steadily. From the perspective of grain production, the national summer harvest progressed smoothly, and summer grain is expected to achieve another bumper harvest.

　　From the perspective of industry, industry maintained relatively rapid growth. In May, the value-added of industry above designated size increased by 5.6% year on year, with 90% of regions and 80% of industries achieving growth. Among them, equipment manufacturing increased by 7.5% year on year, driving the growth of all industry above designated size by 2.6 percentage points and continuing to play the role of a "ballast stone."

　　From the perspective of the service sector, the service sector continued to recover, and modern services developed relatively well.

　　Market demand rose steadily. In May, total retail sales of consumer goods increased by 3.7% year on year, 1.4 percentage points faster than the previous month, among which service consumption maintained relatively rapid growth.

　　From January to May, national fixed asset investment increased by 4.0% year on year, among which manufacturing investment and high-tech industry investment maintained relatively rapid growth. Under the effect of large-scale equipment renewal policies, investment in the purchase of equipment and tools accelerated, contributing 52.8% to the growth of all investment.

　　"Multi-dimensional" — China Express Industry International Development Index released

　　The China Express Industry International Development Index, formulated by the China Express Association together with the Development Research Center of the State Post Bureau, was released for the first time. In 2023, the China Express Industry International Development Index was 70.5.

　　The China Express Industry International Development Index covers multiple dimensions such as market demand, supply capacity, production efficiency, and social effects, with 2035 set as the target year and a value of 100.

　　At present, China's express industry is shifting from a stage of rapid growth to a stage of high-quality development. The release of the China Express Industry International Development Index will help people inside and outside the industry comprehensively understand the results achieved by Chinese express enterprises in expanding international markets and enhancing global competitiveness.

　　"New high" — Shenzhen's total exports in the first five months of 2024 increased by more than 30% year on year

　　Data released by the General Administration of Customs show that in the first five months of 2024, China's total goods trade imports and exports reached 17.5 trillion yuan, a year-on-year increase of 6.3%, with the cumulative scale of imports and exports reaching a new high for the same period in history. Among them, Shenzhen's total imports and exports continued to rank first among mainland cities nationwide. In May alone, Shenzhen's import and export growth rate was 4 percentage points higher than that in April.

　　Shenzhen's exports of electronic products achieved relatively rapid growth in 2024

　　At present, Shenzhen Airport has 38 destinations on international and regional cargo routes, covering major global air cargo hubs. Shenzhen Port's international liner routes reach more than 300 ports in more than 100 countries and regions around the world. The three-dimensional logistics network of sea, air, and port brings more tangible convenience to exports by high-tech and high-value-added enterprises.

　　In the first five months of 2024, Shenzhen's total exports reached 1.16 trillion yuan, a year-on-year increase of 37.2%. Among them, exports of mechanical and electrical products such as mobile phones, computers, and electronic components reached 781.67 billion yuan, a year-on-year increase of 21.7%, accounting for 67.4% of Shenzhen's total export value during the same period.

　　"Booming" — Passenger flows at Shanghai Pudong Airport port exceeded 13 million person-times in 2024

　　Since 2024, as a series of entry-exit policies such as mutual visa exemption agreements have gradually taken effect, the entry-exit market has continued to boom. On June 16, the single-day international passenger flow at the Shanghai Pudong Airport port exceeded 100,000 person-times, setting a record high in nearly four years.

　　In the arrival hall of the Shanghai Pudong Airport port, travelers queued in an endless stream to go through entry-exit procedures. Ms. Maria, a traveler from the Netherlands, came to China this time for business exchanges. She said that compared with her previous visit to China, the visa-free policy brought her great convenience.

　　In addition, as China's visa-free "circle of friends" continues to expand, the convenience of Chinese citizens traveling abroad has also greatly improved.

　　"Climbing" — Border inspection passengers at Gongbei Port exceeded 50 million person-times during the year

　　Statistics from the Gongbei Border Inspection Station of the Zhuhai General Station of Exit and Entry Frontier Inspection show that as of 8 a.m. on June 18, the total number of entry-exit passengers at Gongbei Port during the year exceeded 50 million person-times, nearly one month earlier than in 2023. In addition, during the year, the station cumulatively inspected more than 1.39 million vehicle trips of "dual-plate" vehicles traveling between Guangdong and Macao, a year-on-year increase of 35% compared with the same period in 2023.

　　As an extra-large livelihood port connecting Zhuhai and Macao, Gongbei Port has become a major channel for the general public, especially residents of Guangdong and Macao, to travel between the two places, thanks to its convenient transportation conditions and fast and convenient customs clearance environment.

　　On March 15, 2024, after the entry-exit hall of the main joint inspection building at Gongbei Port completed renovation and resumed use, the port's customs clearance environment was greatly improved, and the number of clearing passengers also showed a trend of gradual increase. During the May Day holiday, the peak single-day number of clearing passengers reached more than 368,000 person-times, setting the highest single-day record in nearly four years.

　　As the national college entrance examination ends and primary and secondary schools in Guangdong and Macao gradually enter the summer vacation, Gongbei Port will usher in a peak of cross-border passenger flow during the summer vacation. In response, the Gongbei Border Inspection Station has made preparations in advance. Through scientific duty organization models and inspection and upgrading of existing hardware facilities and equipment, and with plans to launch targeted customs clearance facilitation measures to improve the customs clearance efficiency of "frequent travelers" between Guangdong and Macao, it will minimize the waiting time for cross-border tourist groups.

　　"Integrated development" — Quality acceptance completed, full opening imminent

　　After seven years of construction, the Shenzhen-Zhongshan Link passed project completion acceptance along its entire line on June 16 and will officially open to traffic at the end of June. As the expressway connecting line of the Shenzhen-Zhongshan Link, the Zhongshan-Kaiping Expressway will also soon open along its entire line.

　　The 129.7-kilometer Zhongshan-Kaiping Expressway has fully passed all quality acceptance inspections by the Guangdong Provincial Department of Transportation and is scheduled to open to traffic simultaneously with the Shenzhen-Zhongshan Link.

　　In the Pearl River Delta region, where rivers crisscross and expressway density is relatively high, the bridge-tunnel ratio of the Zhongshan-Kaiping Expressway is as high as 94%. Among them, at the location crossing the Guangzhou-Macao Expressway and the Guangzhou-Zhuhai Intercity Railway, bridge construction encountered the biggest challenge: construction could not affect the normal operation of the expressway and intercity railway. To this end, the construction unit built a single-unit swivel bridge, using the rotation of the bridge body to avoid conflicts between construction and normal traffic.

　　The starting point of the Zhongshan-Kaiping Expressway is located on Ma'an Island in the eastern part of Zhongshan City, Guangdong Province, and the endpoint reaches Enping City, Jiangmen, Guangdong Province. It is directly connected to the Shenzhen-Zhongshan Link and becomes an important component of the G2518 Shenzhen-Cenxi Expressway. After the Zhongshan-Kaiping Expressway opens, it will join hands with the Shenzhen-Zhongshan Link to promote the rapid integrated development of the Guangdong-Hong Kong-Macao Greater Bay Area city cluster and support the coordinated development of western Guangdong.