This text discusses the positive economic performance of China in the first half of the year, attributing it to several key factors. Here’s a breakdown of the main points:
Overall Positive Economic Performance:
The economy has shown steady progress and resilience, with a positive trend and results in the first half of the year.
This performance has laid a good foundation for continued steady progress in the second half.
Key Factors Contributing to Economic Growth:
- Strengthening Domestic Circulation:
Factor Flow: People, logistics, and capital flows have grown rapidly.
Smoother Domestic Circulation: This has led to increased efficiency within the country. Tangible Evidence: Turnover of goods and passengers increased by 5.1% and 4.9% year-on-year, respectively. The scale of social financing increased by 4.7 trillion yuan year-on-year.
- Active and Proactive Macro Policies:
Purpose: To ensure the stable operation of the economy in the face of sudden impacts and a sharply changing external environment.
Action: The CPC Central Committee and the State Council strengthened countercyclical regulation and implemented proactive macro policies.
Impact: These policies effectively expanded demand, drove production, stabilized expectations, promoted transformation, and safeguarded economic stability.
Examples:
Consumer Goods Trade-in: Released policy dividends,contributing 1.5 percentage points to total retail sales of social consumer goods (over 30% contribution rate).
Large-scale Equipment Updates: Continued to show effects, with purchase investment in equipment and tools increasing by 17.3% year-on-year (over 80% contribution to investment growth).
“Two-fold” and “Two-new” Work: Industries and products related to these initiatives also saw rapid growth.
- Active Response and Enhanced Vitality of business Entities:
role of Enterprises: Enterprises are the micro-subjects of the market economy and are crucial for economic advancement.
Resilience and Versatility: Enterprises have shown courage in taking risks and flexibility in responding to changing market demands, tariff policies, and opening up new markets and business models.
Diversified Export Markets: Despite a fall in exports to the US, exports to ASEAN, the EU, and Japan increased significantly (14.3%, 7.9%, and 6.0% respectively).
Private Enterprise Growth: Private enterprises, as the main force of foreign trade growth, saw a 7.3% increase in import and export volume.
E-commerce Growth: Cross-border e-commerce, particularly through overseas warehouses and market procurement, has grown rapidly.
Innovation: Enterprises are actively seeking innovation, with a rise in valid invention patents owned by them to 3.727 million, accounting for 74.4% of domestic valid patents.
spirit of Hard Work: The collective spirit of hard work across all sectors has contributed to the economy’s resilience and vitality.
Outlook for the Second Half of the Year:
Positive Factors: positive factors supporting high-quality development are accumulating.
Domestic Circulation Potential: There is still great potential to strengthen domestic circulation.
Opening Up: The pace of expanding high-level opening up will continue.
* Macro Policies: More active and proactive macroeconomic policies will continue to exert their effects.
In essence, the text presents a positive assessment of China’s economic performance in the first half of the year, highlighting the effectiveness of government policies, the strength of domestic demand, and the adaptability of its businesses.it expresses optimism for continued growth in the second half.
