Core Viewpoint - China's economy showed resilience in the first half of the year, with a GDP growth of 5.3% year-on-year, despite external pressures and uncertainties [1][2][6]. Economic Performance - The GDP for the first half of the year reached 66,053.6 billion yuan, with a quarterly growth of 5.4% in Q1 and 5.2% in Q2 [1]. - The unemployment rate remained stable, fluctuating between 5% and 5.4% throughout the year [2]. - Consumer Price Index (CPI) turned positive in June, growing by 0.1%, while the core CPI rose to 0.7% [2]. - The trade balance remained stable, with foreign exchange reserves exceeding $3.2 trillion [2]. Economic Characteristics - The economy demonstrated a "steady" trend, with GDP growth slightly increasing compared to previous years [2]. - Domestic demand contributed 68.8% to GDP growth, with final consumption accounting for 52% [3]. - The high-tech industry saw a value-added growth of 9.5% year-on-year in the first half of the year [4]. Consumption Trends - Retail sales of consumer goods reached 24.55 trillion yuan, growing by 5% year-on-year, with a notable increase in service consumption [5]. - The growth rate of sports goods retail sales was 22.2%, and jewelry sales increased by 11.3% [5]. - New consumption patterns, such as personalized and emotional spending, are emerging [5]. Future Outlook - The economic stability observed in the first half provides a solid foundation for achieving annual targets [6]. - The service sector's contribution to GDP has increased, accounting for 59.1% of GDP, with a contribution rate exceeding 60% [7]. - The government is expected to continue implementing supportive macroeconomic policies to ensure stable economic performance [7][8].
上半年国内生产总值同比增长5.3% 经济运行稳中有进稳中向好
Jing Ji Ri Bao·2025-07-15 23:50