The State Council Information Office held a press conference on the morning of July 15, announcing the main macro indicators of the national economy in the first half of the year. Data show that in the first half of this year, China’s economy stabilized and rebounded, market prices were basically stable, and people’s livelihood was effectively guaranteed.
The economy defied pressure and achieved positive growth in the second quarter
According to preliminary calculations, the GDP in the first half of the year was 56,264.2 billion yuan, a year-on-year increase of 2.5% at constant prices. In terms of different industries, the primary industry increased by 5% year-on-year, the secondary industry increased by 3.2%, and the tertiary industry increased by 1.8%. Among them, the GDP in the second quarter was 29,246.4 billion yuan, a year-on-year increase of 0.4%.
Summer grain harvested once more, industrial production stabilized and rebounded
In the first half of the year, there was another bumper harvest of summer grains. The total output of summer grains nationwide was 147.39 million tons, an increase of 1% over the previous year. Industrial production has stabilized and rebounded. The added value of industries above designated size in the country increased by 3.4% year-on-year, of which the added value of high-tech manufacturing increased by 9.6% year-on-year, 6.2 percentage points faster than that of all industries above designated size.
Continued growth in investment and export play a significant role in driving
From the perspective of market demand, investment and export play a significant role in driving growth, and household consumption continues to pick up. In the first half of the year, the national fixed asset investment (excluding farmers) was 27,143 billion yuan, a year-on-year increase of 6.1%, of which infrastructure investment increased by 7.1% and manufacturing investment increased by 10.4%. The total import and export of goods was 19802.2 billion yuan, a year-on-year increase of 9.4%. Among them, exports increased by 13.2% and imports increased by 4.8%.
Market sales have improved and household consumption has recovered steadily
In the first half of the year, the total retail sales of consumer goods was 21,043.2 billion yuan, a year-on-year decrease of 0.7%. In terms of types, retail sales of goods increased by 0.1%, and catering revenue decreased by 7.7%. In the second quarter, as the epidemic was effectively controlled, household consumption recovered steadily. The decline narrowed in May and turned from decline to increase in June.
The employment situation has improved, and the income of residents has increased steadily
In the first half of the year, consumer prices rose moderately, up 1.7% year-on-year. 6.54 million new jobs were created in cities and towns across the country. The surveyed urban unemployment rate nationwide averaged 5.7 percent. The employment situation has improved, and the surveyed urban unemployment rate has dropped. At the same time, residents’ income has grown steadily. The per capita disposable income of residents nationwide is 18,463 yuan, a real increase of 3% following deducting price factors.
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