(the central bank looks forward to China's macro-economy: China's economic operation is expected to continue to improve as a whole, and the growth rate may pick up significantly in the second quarter under the influence of a low base.] May 15, the central bank's first-quarter report on the implementation of China's monetary policy, looking to the future, there are many favorable conditions for the economy to continue the recovery. First, the growth of residents' income has recovered, the consumption scene has improved, the propensity to consume has rebounded, the overall employment situation has been stable, and the potential of domestic demand will be further released. Second, the construction of major projects will be accelerated, infrastructure investment will continue to play an important supporting role in stabilizing growth, investment in technological transformation of the manufacturing industry will be increased, and the downward impact of the stability of real estate on all investment will also weaken. Third, China's industrial chain has a complete supply chain, strong supporting capacity, and exports still have structural advantages. Fourth, policies and measures have been introduced to continue to show results, a proactive fiscal policy has increased efforts to improve efficiency, a sound monetary policy has been accurate and effective, and efforts have been made to serve the real economy, creating a suitable environment for supply-side structural reform and high-quality development. Overall, China's economic operation is expected to continue to improve as a whole, and the growth rate may pick up significantly in the second quarter under the influence of a low base, laying a solid foundation for the smooth realization of the annual growth target.