On March 18, the Provincial Bureau of Statistics released the major indicators on the province's national economy for the first two months: From January to February, the total retail sales of consumer goods in Sichuan reached 464.57 billion yuan, a year-on-year increase of 4.7 percent. Among these, the retail sales of communication equipment by enterprises (units) above the designated size increased by 99.1 percent year on year, while the retail sales of household appliances and audio-visual equipment rose by 6.2 percent.
On January 20 of this year, Sichuan Province officially launched its subsidy program for purchasing new digital products. Consumers purchasing mobile phones, tablets, or smartwatches (bracelets) with a single sales price not exceeding 6,000 yuan are eligible for a subsidy of up to 500 yuan. With the intensified and expanded implementation of policies such as trade-ins of consumer goods and purchase subsidies, a consumption boom for related products has been ignited in Sichuan, as confirmed by the data released by the Provincial Bureau of Statistics.
In the industrial sector, from January to February, the added value of industrial enterprises above the designated size in the province grew by 7.1 percent year on year. The province's overall economic performance remains generally stable and steadily advancing, continuing the trend of recovery and improvement.
Industry is the core engine driving economic growth. Sichuan is ramping up its support for industrial production and enhancing the guarantee of factor resources, thus creating favorable conditions for industrial production. From January to February, the growth rate of the added value of industries above the designated size in the province accelerated by 0.5 percentage points compared to the whole year of 2024.
In terms of growth range, more than 80 percent of sectors saw an increase in added value. Specifically, 34 out of 41 major industries experienced an increase in added value. Among them, the chemical raw materials and chemical products manufacturing industry grew by 29.4 percent year on year, the automobile manufacturing industry increased by 20.7 percent, the computer, communication, and other electronic equipment manufacturing industry rose by 17.0 percent, the smelting and processing of ferrous metals increased by 15.9 percent, and the petroleum and natural gas extraction industry grew by 5.9 percent.
By the output of major industrial products, the production of major new energy products continues to grow rapidly against the backdrop of accelerated integration of scientific and technological innovation with industrial innovation, and the lithium-ion battery production increased by 45.1 percent year-on-year, color televisions grew by 42.1 percent, smartwatches rose by 38.5 percent, power generators (power equipment) increased by 38.1 percent, automobiles grew by 25.2 percent, and liquid crystal displays rose by 18.4 percent. In addition, natural gas production grew by 9.2 percent, and electricity generation increased by 2.3 percent.
Industrial investment shows strong growth momentum. From January to February, fixed asset investment (excluding rural households) increased by 3.2 percent year on year. By sector, investment in the primary industry increased by 26.8 percent year on year, investment in the secondary industry grew by 21.4 percent, with industrial investment rising by 21.5 percent, and investment in the tertiary industry decreased by 4.8 percent.
Holidays have spurred the rise in service consumption, contributing to the steady recovery of the consumer market. From January to February, the total retail sales of social consumer goods in the province reached 464.57 billion yuan, marking a year-on-year increase of 4.7 percent. Especially during the Spring Festival holiday, activities like dining out, visiting friends and relatives, and traveling became more vibrant, further heating service consumption. Among them, catering revenue reached 72.91 billion yuan, a year-on-year increase of 4.2 percent. In terms of popular commodities, grain, oil and food categories increased by 11.5 percent year on year, beverages grew by 27.0 percent, and sports and recreational articles rose by 14.3 percent.
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