Economic Overview - The GDP for the first half of the year reached 66.05 trillion yuan, with a year-on-year growth of 5.3%, supported by a contribution rate of 52% from final consumption expenditure [1][2][8] - The economic growth rate of 5.3% is an increase of 0.3 percentage points compared to the same period last year and the entire previous year [2][14] Key Economic Indicators - The urban survey unemployment rate averaged 5.2% in the first half of the year, indicating overall employment stability [2] - The Consumer Price Index (CPI) showed a low and stable price level, with a return to positive growth in June at 0.1% after four months of negative growth [10][12] - The international balance of payments remained stable, with record high import and export figures in goods trade [2] Investment Trends - Fixed asset investment totaled 24.9 trillion yuan, growing by 2.8%, with a nominal decline attributed to significant decreases in production material prices [4][6] - The actual growth rate of fixed asset investment, excluding price factors, was 5.3%, reflecting a slight decrease compared to the previous year but an increase compared to the entire previous year [4][6] Consumption Dynamics - The total retail sales of consumer goods reached 24.55 trillion yuan, with a year-on-year growth of 5%, indicating a steady increase in consumer spending [7][8] - Holiday consumption, particularly during the Spring Festival, May Day, and Dragon Boat Festival, significantly boosted retail sales, with foreign tourist numbers increasing due to expanded visa-free policies [8] - The growth in service retail outpaced that of goods retail, with a notable rise in sectors related to travel and leisure [8] Price Trends - The CPI's recovery in June was driven by rising industrial consumer goods prices and seasonal factors affecting food supply [10][12] - The overall price adjustment reflects the ongoing transition from traditional to new economic drivers, with traditional sectors facing downward pressure while new sectors continue to grow [13]
中国经济“半年报”出炉:好于预期、“稳”字当前
Xin Jing Bao·2025-07-15 12:43