Li Weicheng: The national economy has made steady progress in the first two months, and growth depends on domestic demand

The latest data clearly shows that China's national economy will maintain steady and progressive development from January to February 2024. The added value of the national industrial enterprises above designated size increased significantly compared with the same period last year, which shows that China's manufacturing industry still maintains a strong growth momentum.

At the same time, the performance of consumer goods retail and service industries is also very impressive. Consumer goods retail sales show that demand for goods and services remains strong, which is critical to driving growth throughout the economy.

Domestic demand has become the main driving force for economic growth

In recent years, the Chinese government has been actively promoting domestic demand, hoping to achieve sustainable economic growth by expanding domestic demand. The successful implementation of this strategy has made domestic demand one of the main driving forces for economic growth.

Uncertainty in the external environment

Although China's national economy has maintained steady and progressive development driven by domestic demand, uncertainty in the external environment still exists. The instability of the global economy and trade frictions have put certain pressure on China's economic growth.

Looking to the future

In general, China's national economy achieved steady and progressive growth from January to February 2024, mainly due to the boost of domestic demand and the strong performance of the manufacturing industry. Looking to the future, China will continue to steadily advance reform and opening up and promote high-quality economic development.