In the first quarter, the transportation and logistics industry made outstanding achievements: the railway sent 753 million passengers, a year-on-year growth of 66%; The goods reached 970 million tons, up 2.3% year on year; The shipping volume of the Three Gorges Hub increased by 22.08% year on year, which is the maximum freight volume in the same period in the past 20 years...... Through the data, we can see that the Chinese economy is picking up speed.

Transportation logistics is the "main artery" of national economic development, and also an important support for people's livelihood. After the implementation of "Class B and Class B" infection, the economic and social order has gradually returned to the right track, and the flow of logistics, people and information has accelerated, driving the traffic and logistics data to improve. During the Qingming holiday, 23.7664 million domestic tourists made trips, up 22.7 percent from last year's Qingming Day. Urban rail transit data also confirm this point. A total of 2.54 billion passenger trips were made in the 54 cities operating rail transit in March, 550 million more than the monthly average in 2019.

With the return of social order to normal, our economy presents a recovery trend. From the data, whether the manufacturing PMI is in the expansion range for three consecutive months, or the national industrial electricity consumption increased 3.2% year-on-year in the first two months, all show that the quality and efficiency of China's economic development are improving, and market expectations have improved significantly. The rapid increase in manufacturing capacity has led to high growth in the transportation of energy, raw materials and other bulk commodities. Total retail sales of consumer goods resumed growth, and online retail sales of physical goods, in particular, increased rapidly and accounted for a larger proportion, driving the rapid growth of the postal and express delivery industries.

The change of data is closely related to the improvement of transportation logistics efficiency, which reflects the high-quality development of the industry. Since the beginning of this year, China has continued to strengthen the construction of a strong transport country, technological innovation in transport has been significantly enhanced, and green and low-carbon transformation has been further promoted. The postal and express delivery industries, in particular, are working hard on digital and green reform to improve privacy protection and operational efficiency. At the same time, we should strengthen industrial integration and upgrading, continuously sink the service network, and improve the service industry chain and supply chain capacity of the industry.

All regions and ministries should give priority to restoring and expanding consumption, encourage investment from the whole of society, and take comprehensive measures to unleash the potential of domestic demand. Transport and logistics are no exception. China's railway investment in fixed assets reached 113.55 billion yuan in the first quarter, the highest in nearly 10 years. It will effectively drive upstream and downstream investment and consolidate the foundation for economic recovery. At the same time, it will further improve transport infrastructure and provide solid support for future development.

It is important to note that the foundation of our economic recovery is not yet solid, and the three pressures of demand contraction, supply shock and expectation of weakening are still quite big. The CPI in March rose by 0.7% year-on-year, the first time this year that it has fallen below 1 and the lowest level since October 2021. This shows that insufficient aggregate demand remains a prominent problem in the current economic performance. Therefore, on the basis of in-depth investigation and research, we need to do a solid job in monitoring economic performance, analyzing the situation and studying countermeasures, and introduce pragmatic and effective policies and measures in due course to further stabilize market expectations, boost confidence in development, consolidate the momentum of expansion, and promote sustained overall economic improvement.