Economy

Breaking through the Waves of "Change" and "Unchanged" - Looking at the Password of China's Economic Resilience from the First Quarter Answer Sheet

2026-04-20   

In deep spring and April, the world looks east. In the first quarter, the GDP grew by 5.0% year-on-year, reaching the high line of the annual development target range of "4.5% -5%", ranking among the top in the world's major economies. In the first year of the "15th Five Year Plan", the Chinese economy steadily moved forward in the "stormy winds" and delivered a first quarter performance report that exceeded expectations, demonstrating the resilience of the major country's economy. Where does this resilience come from? Maintain strategic focus and concentrate on doing your own things well; Proactively recognizing and adapting to changes, firmly grasping the strategic initiative - in the dialectical game of "change" and "unchanged", the Chinese economic giant is breaking through the waves and moving forward. Looking across the vast land of China, at the Consumer Expo on the banks of the Qionghai Sea, more than 3400 brands competed to appear; At the Canton Fair on the coast of the Pearl River, 75700 booths were full of people. From the roaring sound of Zhang Xueji's car traveling from Chongqing to the world, to the official production of China's first 10000 level humanoid robot production line... vivid scenes converge into the surging force of China's economy seizing the initiative and accumulating momentum in the face of changes. Opening test: In the face of headwinds, the "stability" and "progress" of GDP in the first quarter increased by 5.0% year-on-year, accelerating by 0.7 percentage points compared to the fourth quarter of last year; The total import and export value exceeded 11 trillion yuan for the first time, with a year-on-year growth rate of 15% and the highest quarterly growth rate in nearly five years; The PPI returned to positive growth after 41 months in March, and the manufacturing PMI returned to the expansion range... The upward curves outline a clear outline of China's economy having a good start. The wind is high and the waves are fast, showing a more resilient nature. Currently, the unprecedented major changes are accelerating, geopolitical games are intensifying, the Middle East war continues to stir, and global economic recovery is struggling. The latest World Economic Outlook report from the International Monetary Fund (IMF) has lowered its global economic growth forecast for 2026 to 3.1%. The distinction between rising and falling is particularly distinct. Maintaining composure in the face of changes and rising against the wind, China has become a 'stable anchor' in a turbulent world. IMF Managing Director Georgieva commented that despite the spillover impact of the Middle East conflict on the global economy, the Chinese economy still has resilience and enormous potential, which will have a positive impact on the world. A thousand strokes and ten thousand strikes still remain strong, allowing the wind to blow in all directions. In the face of a complex and severe external environment, China has always maintained strategic determination and responded to "changes" with "no change". This' invariance 'is reflected in the strategic determination of macroeconomic regulation. Adhere to the general principle of seeking progress while maintaining stability, accelerate the implementation of more proactive macro policies, and focus on stabilizing employment, enterprises, markets, and expectations. The financial support for entities is stable - in the first quarter, China's social financing scale increased by 14.83 trillion yuan, which is at a relatively high level in the same period of history; RMB loans increased by 8.6 trillion yuan, while corporate financing costs remained low. Proactive fiscal policy takes the lead - the issuance scale of local bonds exceeded 3.1 trillion yuan in the first quarter, reaching a new high since the fourth quarter of 2024. This' immutability 'is reflected in the security and stability of the industrial and supply chains. Faced with multiple pressures such as intensified international geopolitical conflicts, fluctuations in the global energy market, and rising factor costs, the industrial economy is moving forward under pressure and accelerating steadily. In the first quarter, the added value of China's manufacturing industry increased by 6.3% year-on-year, contributing 32% to economic growth. The Regulations of the State Council on Industrial Chain and Supply Chain Security have been officially implemented recently, guiding the rational and orderly layout of industrial chain and supply chain, strengthening international cooperation in the field of industrial chain and supply chain, supporting the research and development of core technologies in key areas, and maintaining the stable and continuous operation of the production and circulation of raw materials, technology, equipment, products, etc. in key areas. This kind of 'unchanged' is also reflected in the firm determination to open up to the outside world at a high level. China actively opens up its super large market, expands imports, strengthens industrial cooperation and win-win outcomes, allowing countries to better share the "China opportunities". Recently, global executives of multinational corporations have visited China to express their long-term confidence in the Chinese market. In the first quarter, China added over 6200 foreign-funded enterprises registered with customs, and the number of foreign-funded enterprises with import and export records increased by more than 1000 compared to the same period last year, reaching 69000. The key to breaking the deadlock: "standing" and "new" in the changing situation. Guangzhou Tuohua Intelligent Manufacturing Technology Co., Ltd. has been deeply rooted in the Middle East market for more than ten years, with dozens of self operated stores and multiple self owned brands. Faced with the impact of the Middle East situation, companies did not passively "lie flat", but actively sought change and made dual efforts - on the one hand, they worked hard to explore new markets, and on the other hand, they continued to develop new products. In response to the current energy shortage in the local area, the company has extended its product line to the new energy field and continues to research and develop energy storage power supplies and solar lighting products. Even though the foreign trade situation is severe, the company leader is still full of confidence: "In an uncertain environment, enterprises with technology, brand, and localization teams will eventually wait for the next window period." Those who are wise change with the times, while those who are knowledgeable adapt to the situation. The resilience of the Chinese economy comes from both steadfast strategic determination and proactive innovation in seeking change. Breaking through the situation with "change" and increasing momentum with "change", enhancing resilience and stimulating vitality in the process of change, is the key password for China's economy to cross the cycle. 'Change' comes from macroeconomic regulation, which requires precise policy implementation and dynamic optimization. By 2026, the central government will allocate 100 billion yuan to launch a package of six policies to promote domestic demand through fiscal and financial coordination, including four targeted policies to support private investment and two policies to support household consumption. Since the beginning of this year, loans in fields such as technology, green, inclusive, elderly care, and digital have maintained double-digit growth. Accurate and effective regulation not only mitigates short-term pressures, but also solidifies long-term foundations. The "change" comes from the "change" of industrial structure, which is in the transformation of kinetic energy and upgrading of quality. In the first quarter, the added value of equipment manufacturing industry increased by 8.9% year-on-year, and the added value of high-tech manufacturing industry increased by 12.5%, which were 2.8 and 6.4 percentage points faster than the added value of all industries above designated size, respectively; The production of 3D printing equipment, lithium-ion batteries, and industrial robots increased by 54.0%, 40.8%, and 33.2% year-on-year, respectively. New driving forces are increasingly taking on the "big beam", and new industries and economies are emerging one after another. The 'change' comes from the 'change' of the market pattern, which involves internal and external linkage and diversified expansion. Influenced by the situation in the Middle East, China's imports and exports to some regions have fluctuated in the short term, but with the diversified market layout, foreign trade has grown against the trend as a whole. In the first quarter, China's imports and exports to countries jointly building the "the Belt and Road" reached 6.06 trillion yuan, an increase of 14.2%, accounting for 51.2% of the total value of imports and exports. Both imports and exports to ASEAN and Latin America increased by 15.4%, imports and exports to Africa increased by 23.7%, imports and exports to the EU and the UK increased by 14.6% and 13.1% respectively, and imports and exports to other economies of APEC increased by 13.4%. Diversified development has enhanced the resilience of foreign trade. ”Wang Wentao, Minister of Commerce, said, "The west is not bright and the east is bright. Without the north, there is the south." At the 139th Canton Fair, in front of the booth of Shenzhen Huaxing New Energy Technology Co., Ltd., customers from the countries that jointly built the "the Belt and Road" came in an endless stream. This company is not providing a simple energy storage cabinet, but a system service of "EPC general contracting+localization team+power trading solution". In response to the instability of the European power grid and frequent fluctuations in electricity prices, they have independently developed a small intelligent energy storage cabinet that can adapt to minute level electricity trading, achieving a flexible electricity consumption mode of "low charging and high discharging". In response to the high cost of diesel in Africa, we have launched an integrated system called "Light Storage Diesel", which can help customers recover their costs in just one and a half to two years. We do not compete on price, nor do we engage in 'ship and go' transactions. ”Sun Huaibing, the R&D Director of Shenzhen Huaxing New Energy Technology Co., Ltd., said that the company has built its own overseas warehouses and reserved spot goods in Europe, and dispatched a core operation team to root in the local area. In the face of fluctuations in production capacity, we fully rely on the well-established domestic new energy supply chain system, integrate high-quality OEM factory resources, independently output core technologies and solutions, and cooperate with factories to be responsible for production and processing. This not only ensures product quality, but also achieves flexible adjustment of production capacity. "Journey to Zhiyuan:" Quality "and" efficiency "in deep cultivation are firmly rooted in the unchanged, new machines are cultivated in changes, and responsibilities are demonstrated in storms. Behind the strong resilience of the Chinese economy is the vivid practice of each business entity in the process of "change" and "unchanged". Entering the Zunjie Super Factory in Hefei, Anhui, a scene of virtual and real integration comes into view: on the production line, new energy vehicles are being produced, and their corresponding virtual manufacturing processes are presented in real time on the large screen. We have rebuilt a factory in the digital world, which is the 'digital twin' factory, "said Wei Dawei, the head of Zunjie Super Factory. The factory aggregates production line data to the cloud factory 'brain' at a speed of 300000 per second through industrial robots, cameras, sensors and other equipment on the production line, reducing debugging cycles by more than 40% and manufacturing delivery cycles by more than 20%. In the first quarter of this year, Jianghuai Automobile sold 4413 new energy light trucks, a year-on-year increase of 2.9%; The sales of new energy passenger vehicles increased by 66.04% year-on-year. Accumulated export sales of 45000 vehicles, maintaining the industry's top position in the export of mid to high end light trucks. Technological innovation cultivates internal strength, while overseas layout strengthens external strength, becoming the two "trump cards" for enterprises to shape competitiveness. Seizing the opportunity of 'change', a deeper transformation is taking place from the manufacturing end to the service end. Since the beginning of this year, a group of "intelligent agent assistants" have quietly taken up their posts. In Peking Union Medical College Hospital, Digital China and experts jointly created the "Auxiliary Diagnosis and Treatment Agent for Postoperative Complications of pancreatic cancer", which can deeply analyze massive clinical pathology and diagnosis and treatment data and become the "diagnosis and treatment tool" for attending physicians. The 'last mile' of AI+healthcare lies in whether AI can be deeply embedded into the core diagnosis and treatment process, bringing tangible application value to clinical practice, truly playing an auxiliary decision-making role, and on this basis, achieving a 'breakthrough' around clinical difficulties and high-value scenarios such as' urgent, critical, serious, difficult, and rare '. ”Tang Kai, Vice President of Digital China, said. Such examples are everywhere. From the new consumer trends of the Consumer Expo to the manufacturing hard power of the Canton Fair; From power equipment and energy storage batteries going global, to independent brands entering Europe and Southeast Asia; From technology output to industrial ecology going global - Chinese enterprises actively seek innovation and self iteration in the process of change. At the 139th Canton Fair, Hangzhou Taixi Intelligent Technology's exoskeleton robot attracted long queues of buyers. The weight of the company's products has decreased from 2.4 kilograms last year to 1.8 kilograms, with a performance improvement of about 20%. New products are launched every 3 to 6 months. The founder and CEO of the company, Liang Linchao, said, "China's industrial manufacturing chain is complete, with different types of suppliers in the Yangtze River Delta and Pearl River Delta, which can quickly meet the different needs of downstream customers in terms of price, weight, functionality, etc." From exploring emerging markets, to product iteration centered on user needs, to efficient collaboration in the industrial chain, this enterprise vividly interprets the deep logic of "supply and demand". Accurately understanding demand and efficiently providing supply will solve other problems, "said Liang Linchao. Faced with external headwinds, Chinese enterprises continue to innovate and actively break through in the face of changes. In the face of uncertainty, they use technology to deeply cultivate, ecology to go global, and deep empowerment to build a competitive edge with certainty. Spring Mountain is within reach, and the future is promising. The Chinese economy is like a vast ocean, growing stronger through storms and becoming more resilient in the face of challenges. On the new journey towards the 15th Five Year Plan, a stable, open, and innovative China will continue to inject confidence and strength into the global economic recovery. (New Society)

Edit:He Chuanning Responsible editor:Su Suiyue

Source:Economic Information Daily

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