Consumption is gaining new momentum because of the expanded large-scale equipment upgrade and consumer goods trade-in programs. The Q1 retail sales of refrigerators and other household appliances increased by 38.4 percent year on year, and those of mobile phones and other communication equipment increased by 27.3 percent, according to value-added tax invoice data from the State Taxation Administration.

　　China's new energy industries and green transition, driven by its cutting-edge technologies, remain important growth drivers. Green technology promotion services in energy conservation and environmental protection, as well as the sales revenue of the new energy vehicle manufacturing industry, all posted double-digit growth in Q1. Among the country's innovation achievements, humanoid robotics and large artificial intelligence models have driven the development of relevant industries.

　　Despite external challenges, China is determined to manage its own affairs well, advancing Chinese modernization and pursuing high-quality development while sharing with other countries the new opportunities presented by its development.

　　Through reassuring messages from policymakers at multiple symposiums, conferences, and expos this year, confidence has been significantly strengthened in the private sector and among foreign investors. This could be seen from a year-on-year increase of 33.4 percent in border crossings by foreign nationals in Q1, and a record 65 Fortune Global 500 companies and industry leaders attending the ongoing fifth China International Consumer Products Expo in south China's Hainan Province.