The national economy got off to a good start in the first quarter.

(April 16, 2026)

National Bureau of Statistics

In the first quarter, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at its core, various regions and departments thoroughly implemented the decisions and arrangements of the Party Central Committee and the State Council. They accelerated the implementation of more proactive and effective macro policies, focused on stabilizing employment, enterprises, markets, and expectations, and expedited the cultivation of new productive forces. Production and supply grew faster, market demand continued to improve, the employment situation remained generally stable, market prices moderately rebounded, high-quality development advanced in a new and better direction, and the national economy achieved a good start, further demonstrating resilience and vitality in development.

Preliminary calculations show that the gross domestic product (GDP) in the first quarter was 33.4193 trillion yuan, an increase of 5.0% year-on-year at constant prices, accelerating by 0.5 percentage points compared to the fourth quarter of the previous year. By industry, the added value of the primary industry was 1.1941 trillion yuan, up 3.8% year-on-year; the secondary industry was 11.6135 trillion yuan, up 4.9%; and the tertiary industry was 20.6117 trillion yuan, up 5.2%. Quarter-on-quarter, GDP grew by 1.3% in the first quarter.

I. Agricultural production performed well, and the livestock industry remained generally stable

In the first quarter, the added value of agriculture (planting) increased by 3.7% year-on-year. The winter wheat planting area remained stable, seedling conditions continued to improve, and spring plowing and preparation progressed smoothly. According to the national planting intention survey, the intended planting area for grain this year is generally stable, with rice area remaining roughly the same and corn area slightly increasing. In the first quarter, the output of pork, beef, mutton, and poultry was 26.62 million tons, up 4.8% year-on-year. Among them, pork and poultry production increased by 4.2% and 9.3%, respectively, while beef and mutton production decreased by 1.4% and 2.0%, respectively. Milk production increased by 3.4%, while egg production decreased by 3.1%. In the first quarter, 200.26 million pigs were slaughtered, an increase of 2.8% year-on-year, and at the end of the quarter, the pig inventory was 423.58 million, up 1.5%.

II. Industrial production accelerated, with rapid growth in equipment manufacturing and high-tech manufacturing

In the first quarter, the added value of industrial enterprises above designated size nationwide increased by 6.1% year-on-year, accelerating by 1.1 percentage points compared to the fourth quarter of the previous year. By sector, the added value of the mining industry increased by 6.0% year-on-year, manufacturing by 6.4%, and electricity, heat, gas, and water production and supply by 4.3%. The added value of equipment manufacturing increased by 8.9% year-on-year, and high-tech manufacturing increased by 12.5%, outpacing the overall industrial growth by 2.8 and 6.4 percentage points, respectively. By economic type, the added value of state-controlled enterprises increased by 4.8% year-on-year, joint-stock enterprises by 6.6%, foreign-invested enterprises and those from Hong Kong, Macao, and Taiwan by 3.9%, and private enterprises by 6.1%. By product, the output of 3D printing equipment, lithium-ion batteries, and industrial robots increased by 54.0%, 40.8%, and 33.2% year-on-year, respectively. In March, the added value of industrial enterprises above designated size increased by 5.7% year-on-year and 0.28% month-on-month. In March, the manufacturing purchasing managers' index was 50.4%, up 1.4 percentage points from the previous month, and the production and business activity expectation index was 53.4%. From January to February, the total profits of industrial enterprises above designated size nationwide were 1.0246 trillion yuan, up 15.2% year-on-year.

III. The service sector grew rapidly, with strong momentum in modern services

In the first quarter, the added value of the service sector increased by 5.2% year-on-year. Among them, the added value of leasing and business services, information transmission, software and information technology services, finance, transportation, warehousing and postal services, and accommodation and catering increased by 12.2%, 10.6%, 6.5%, 4.3%, and 4.3%, respectively. In March, the national service production index increased by 5.0% year-on-year. Among them, the production indices for information transmission, software and information technology services, leasing and business services, and finance increased by 11.8%, 10.1%, and 6.7%, respectively. From January to February, the operating income of service enterprises above designated size increased by 7.4% year-on-year. In March, the business activity index for the service sector was 50.2%, up 0.5 percentage points from the previous month, and the business activity expectation index was 54.8%. Among them, the business activity indices for railway transportation, telecommunications, broadcasting, and satellite transmission services, monetary financial services, and insurance were above 55.0%, indicating a high level of prosperity.

IV. Market sales accelerated, with rapid growth in service retail

In the first quarter, the total retail sales of consumer goods reached 12.7695 trillion yuan, an increase of 2.4% year-on-year, accelerating by 0.7 percentage points compared to the fourth quarter of the previous year. By location of business units, retail sales in urban areas were 11.0574 trillion yuan, up 2.3% year-on-year, while rural retail sales were 1.7121 trillion yuan, up 3.1%. By consumption type, retail sales of goods were 11.3072 trillion yuan, up 2.2%, and catering revenue was 1.4623 trillion yuan, up 4.2%. Sales of basic living goods and some upgraded goods grew rapidly, with retail sales of grain, oil, and food, clothing, shoes, hats, and textiles, communication equipment, and gold, silver, and jewelry by enterprises above designated size increasing by 10.0%, 9.3%, 20.8%, and 12.6%, respectively. In March, the total retail sales of consumer goods increased by 1.7% year-on-year and 0.14% month-on-month. In the first quarter, service retail sales increased by 5.5% year-on-year, maintaining the same growth rate as the previous year. Among them, retail sales of communication and information services, tourism consulting and rental services, and cultural and recreational services grew rapidly. In the first quarter, the national online retail sales of goods and services reached 4.9774 trillion yuan, up 8.0% year-on-year. Among them, online retail sales of goods were 3.1614 trillion yuan, up 7.5%, accounting for 24.8% of the total retail sales of consumer goods, while online retail sales of services were 1.816 trillion yuan, up 8.8%.

V. Fixed asset investment grew steadily, with rapid growth in infrastructure investment

In the first quarter, national fixed asset investment (excluding rural households) reached 10.2708 trillion yuan, up 1.7% year-on-year, compared to a decline of 3.8% for the whole of the previous year. Excluding real estate development investment, national fixed asset investment grew by 4.8%. By sector, infrastructure investment increased by 8.9% year-on-year, manufacturing investment by 4.1%, and real estate development investment decreased by 11.2%. The sales area of newly built commercial housing nationwide was 195.25 million square meters, down 10.4% year-on-year, and the sales value was 1.7262 trillion yuan, down 16.7%. By industry, investment in the primary industry increased by 15.9% year-on-year, the secondary industry by 5.8%, and the tertiary industry decreased by 1.0%. Private investment decreased by 2.2% year-on-year, with the decline narrowing by 4.2 percentage points compared to the previous year. Excluding real estate development investment, private investment grew by 1.3%. Investment in high-tech industries increased by 7.4% year-on-year, with investment in computer and office equipment manufacturing, aerospace equipment manufacturing, and information services growing by 28.3%, 19.0%, and 20.9%, respectively. In March, fixed asset investment (excluding rural households) increased by 0.52% month-on-month.

VI. Rapid growth in goods imports and exports, with continued optimization of trade structure

In the first quarter, the total value of goods imports and exports was 11.838 trillion yuan, up 15.0% year-on-year. Among them, exports were 6.8467 trillion yuan, up 11.9%, and imports were 4.9913 trillion yuan, up 19.6%. General trade imports and exports increased by 9.0% year-on-year. Imports and exports with countries involved in the Belt and Road Initiative increased by 14.2%. Imports and exports by private enterprises increased by 16.2%, accounting for 57.3% of the total import and export value. Exports of mechanical and electrical products increased by 18.3%. In March, the total value of imports and exports was 4.1046 trillion yuan, up 9.2% year-on-year.

VII. Consumer price growth expanded, and industrial producer prices continued to rise

In the first quarter, the national consumer price index (CPI) rose by 0.9% year-on-year, with the growth rate expanding by 0.4 percentage points compared to the fourth quarter of the previous year. By category, prices for food, tobacco, and alcohol and dining out rose by 0.5% year-on-year, clothing prices by 1.8%, housing prices fell by 0.2%, household goods and services prices rose by 2.3%, transportation and communication prices fell by 1.1%, education, culture, and entertainment prices rose by 1.0%, healthcare prices rose by 1.8%, and other goods and services prices rose by 14.1%. Among food, tobacco, and alcohol prices, pork prices fell by 11.3%, grain prices fell by 0.3%, fresh fruit prices rose by 4.3%, and fresh vegetable prices rose by 7.6%. Core CPI, excluding food and energy prices, rose by 1.2% year-on-year. In March, the national CPI rose by 1.0% year-on-year and fell by 0.7% month-on-month.

In the first quarter, the national industrial producer price index (PPI) fell by 0.6% year-on-year, with the decline narrowing by 1.5 percentage points compared to the fourth quarter of the previous year. In March, the PPI rose by 0.5% year-on-year, compared to a decline of 0.9% in the previous month, and rose by 1.0% month-on-month. In the first quarter, the national industrial producer purchase price index fell by 0.5% year-on-year. In March, it rose by 0.8% year-on-year, compared to a decline of 0.7% in the previous month, and rose by 1.2% month-on-month.

VIII. Employment remained generally stable, with the urban surveyed unemployment rate unchanged year-on-year

In the first quarter, the average urban surveyed unemployment rate nationwide was 5.3%, unchanged from the same period last year. In March, the urban surveyed unemployment rate nationwide was 5.4%. The surveyed unemployment rate for local household-registered labor was 5.4%, while that for non-local household-registered labor was 5.3%, including 5.7% for non-local agricultural household-registered labor. The urban surveyed unemployment rate in 31 major cities was 5.3%. The average weekly working hours of employees in enterprises nationwide were 48.1 hours. At the end of the first quarter, the total number of rural migrant workers working outside their hometowns was 188.38 million, up 0.2% year-on-year.

IX. Household income continued to grow, with rural income growing faster than urban income

In the first quarter, the national per capita disposable income was 12,782 yuan, a nominal increase of 4.9% year-on-year, and a real increase of 4.0% after deducting price factors. By place of residence, the per capita disposable income of urban residents was 16,549 yuan, a nominal increase of 4.2% year-on-year and a real increase of 3.2%, while that of rural residents was 7,433 yuan, a nominal increase of 6.1% year-on-year and a real increase of 5.4%. By income source, national per capita wage income, net operating income, net property income, and net transfer income increased by 4.9%, 6.6%, 1.6%, and 5.1% nominally, respectively. The median per capita disposable income nationwide was 10,433 yuan, a nominal increase of 5.0% year-on-year.

Overall, in the first quarter, the growth rate of major macroeconomic indicators rebounded, new drivers of growth developed rapidly, and the national economy achieved a good start. However, it should also be noted that the external environment has become more complex and volatile, and the contradiction between strong supply and weak demand domestically remains prominent. The foundation for economic improvement still needs to be consolidated. In the next stage, we must adhere to Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as our guide, resolutely implement the decisions and arrangements of the Party Central Committee and the State Council, fully and accurately implement the new development philosophy, accelerate the construction of a new development pattern, focus on promoting high-quality development, adhere to the general principle of seeking progress while maintaining stability, implement more proactive and effective macro policies, continue to expand domestic demand, optimize supply, improve increments, revitalize stock, and focus on stabilizing employment, enterprises, markets, and expectations, continuously consolidating and expanding the trend of steady economic improvement.