Economic Growth - In Q2, China's actual GDP grew by 5.2% year-on-year, slightly down from 5.4% in Q1, but still above 5%, laying a solid foundation for the annual growth target of 5%[3] - The nominal GDP growth in Q2 was weak at approximately 3.9%, the weakest since Q1 2023, primarily due to persistent low inflation, with the GDP deflator index down by 1.2% year-on-year[3][8] Industrial Production - Industrial production showed strength, with June's industrial added value increasing by 6.8% year-on-year, just below the peak in March[8] - The industrial capacity utilization rate fell to 74% in Q2, indicating relative overcapacity, which may be a reason for the weak nominal growth[3][8] Investment Trends - Fixed asset investment growth continued to decline, with June's year-on-year growth rate dropping to 2.8%, and construction spending turning negative[8] - Real estate investment saw a significant decline, with June's year-on-year growth rate at -12.9%, reflecting increased sales pressure and declining sales area and amount[8] Consumer Spending - Retail sales growth fell to 4.8% year-on-year in June, influenced by the earlier timing of the e-commerce "618" event and a decline in restaurant income[8] - Despite the slowdown, consumer spending is expected to have upward momentum, supported by stable employment and income growth, with disposable income and consumption expenditure both growing over 5% year-on-year in Q2[8] Structural Challenges - The report highlights three structural challenges that need policy focus: adjusting trade relations amid a changing global tariff environment, managing low inflation, and supporting the recovery of real estate prices[3][8] - Risks include increased volatility in the external economic environment and uncertainties in policy decisions regarding domestic demand stimulation[10]

Economic Overview - In the first half of the year, China's GDP reached 66,053.6 billion yuan, with a year-on-year growth of 5.3% [1] - The total retail sales of consumer goods amounted to 24,545.8 billion yuan, growing by 5.0% year-on-year, accelerating by 0.4 percentage points compared to the first quarter [1] - The total import and export value was 21,787.6 billion yuan, with a year-on-year increase of 2.9% [1] - Fixed asset investment (excluding rural households) was 24,865.4 billion yuan, up 2.8% year-on-year, while excluding real estate development investment, the growth was 6.6% [1] Industry Developments - The Ministry of Commerce and the Ministry of Science and Technology announced the adjustment of the "Catalog of Technologies Prohibited from Exporting and Restricted from Exporting," adding battery cathode material preparation technology as a restricted category [2] - The eleventh batch of national organized drug procurement has been initiated, with 55 varieties selected for procurement [2] - The People's Bank of China conducted a 14,000 billion yuan reverse repurchase operation, marking the second consecutive month of increased operations [2] Market Performance - In June, the industrial power generation reached 7,963 billion kWh, with a year-on-year growth of 1.7%, accelerating by 1.2 percentage points compared to May [3] - The sales prices of new residential properties in first-tier cities decreased by 0.3% month-on-month in June, while second-hand residential prices fell by 0.7% [3] - NVIDIA's CEO announced the approval for the sale of H20 chips to the Chinese market and the launch of the RTXpro GPU [3] International Trade and Economic Relations - A report from JPMorgan indicated that the effective tariff rate in the U.S. could approach 20% due to increased tariffs, despite a low consumer price index [4] - The Westpac Bank and Melbourne Institute reported a 0.6% increase in the consumer confidence index in Australia [5] - The EU is close to reaching a trade agreement with the U.S., although significant differences remain in some areas [5]

Economic Overview - The GDP for the first half of the year is reported at 66,053.6 billion yuan, with a year-on-year growth of 5.3% [1] - The economy shows resilience amidst a complex international environment and domestic structural adjustments [1] Contribution to GDP Growth - Final consumption expenditure contributed 52% to GDP growth, making it the primary driver [1][3] - Net exports of goods and services contributed 31.2%, indicating a recovery in external demand [1] - Capital formation contributed 16.8%, with fixed asset investment providing stable support [1] Consumer Market Dynamics - Retail sales of consumer goods reached 24,545.8 billion yuan, growing by 5.0% year-on-year, with a notable acceleration in the second quarter [3][4] - The service consumption sector is recovering rapidly, supported by holiday economies and an increase in the consumption of upgraded goods [4] - The "trade-in" policy for home appliances has significantly boosted consumer activity, with online retail sales of major appliances increasing by 28.0% in the second quarter [4] Investment Trends - Fixed asset investment growth has slowed, but its contribution to GDP remains solid at 16.8%, with a second-quarter contribution of 24.7% [5][6] - Investment in manufacturing and high-tech industries is growing rapidly, with manufacturing investment up by 8.5% and high-tech industry investment by 11.7% [5] - Infrastructure investment grew by 5.4% in the first half of the year, with plans to accelerate major projects in the second half [6] Economic Outlook - Financial institutions predict that China's economic growth rate may remain around 5% for the year, supported by strong internal demand and policy coordination [7] - The government plans to continue enhancing counter-cyclical adjustments to solidify the recovery trend [7][8] - The focus will be on strengthening domestic circulation and ensuring high-quality development to address external uncertainties [8]

Economic Indicators - The National Bureau of Statistics reported that GDP grew by 5.3% year-on-year in the first half of the year [1] - In June, the industrial added value above designated size increased by 6.8% year-on-year [1] - Fixed asset investment nationwide increased by 2.8% year-on-year in the first half of the year [1] - Retail sales of consumer goods in June rose by 4.8% year-on-year [1] - Real estate development investment nationwide decreased by 11.2% year-on-year from January to June [1] Consumer Market Outlook - The Deputy Director of the National Bureau of Statistics indicated that consumer development in the second half of the year is supported by positive factors and trends from the first half, with continued strengthening of consumption policies [2] Real Estate Market Trends - As of June 2025, the sales prices of commercial residential properties in 70 large and medium-sized cities showed a month-on-month decline, with the overall year-on-year decline narrowing [3] Technology Sector Developments - NVIDIA's founder and CEO announced that the U.S. has approved the export of H20 chips to China, and NVIDIA will launch the RTXpro GPU [4] Stock Market Performance - As of the midday close, the Shanghai Composite Index fell by 0.93%, the Shenzhen Component Index decreased by 0.26%, while the ChiNext Index rose by 0.64%. The Hang Seng Index and the Hang Seng Tech Index both increased by 0.2% [5]

国家统计局副局长盛来运：上半年内需对GDP增长的贡献率为68.8% 金十数据7月15日讯，国家统计局副局长盛来运表示，今年以来，为应对外部挑战，我国把做大做强国 内大循环摆在更加突出的位置，出台了一系列政策支持扩大内需、促进生产、畅通循环。从统计数据 看，人流物流资金流都在改善，上半年内需对GDP增长的贡献率为68.8%，其中最终消费支出贡献率为 52%，是增长的主动力。经济运行在改善，上半年，货运周转量同比增长5.1%，旅客周转量增长4.9%。 央行刚刚发布了数据，6月末M2同比增长8.3%。 （中国网） ...

Core Viewpoint - The report highlights that domestic demand, particularly consumption, is the main driver of GDP growth in the first half of the year, with significant contributions from final consumption expenditure, capital formation, and net exports [1] Group 1: Economic Contributions - Final consumption expenditure contributed 52% to the economy, indicating its crucial role in driving growth [1] - Capital formation contributed 16.8% to economic growth, with a total contribution rate of 24.7% in the second quarter [1] - Net exports contributed 31.2% to the economy, with a contribution rate of 23% in the second quarter [1] Group 2: Quarterly Performance - In the second quarter, final consumption expenditure's contribution to GDP growth increased slightly to 52.3% compared to the first quarter [1] - The contribution of capital formation in the second quarter was noted at 24.7%, reflecting its importance in the overall economic structure [1] - The net export contribution in the second quarter was recorded at 23%, showcasing its ongoing relevance to economic performance [1]

新加坡第二季度GDP同比增长4.3%，预估3.6%。 新加坡第二季度GDP环比增长1.4%，预估0.8%。 ...

新加坡第二季度GDP同比增长4.3%，预估3.6%。 ...

Economic Growth Overview - Cameroon’s GDP growth for Q4 2024 is projected at 1.6%, a decrease of 0.6 percentage points from 2.2% in the same period of 2023 [1] - The slowdown in economic growth is primarily attributed to the decline in the secondary sector, which shrank from 1.1% to -0.7% during the same period [1] Sector Performance - The mining and extraction sector experienced a significant contraction of 19.2%, contributing to the overall decline in the secondary sector [1] - The extraction industry has been in recession since Q2 2023, facing challenges from aging oil fields and international price fluctuations [1] Revenue Adjustments - The government has revised its expected revenue for 2025 from an initial budget of 734.8 billion CFA francs (approximately $1.225 billion) down to 641.5 billion CFA francs (approximately $1.069 billion), reflecting a reduction of 93.3 billion CFA francs (12.7% decrease) [1] Resilience in Other Sectors - The tertiary sector showed strong performance with a growth rate of 4.4%, while the primary sector grew by 3% [2] - Growth in the tertiary sector is driven by robust development in financial and administrative services, while the primary sector benefits from strong outputs in food crops, export agricultural products, fisheries, and livestock [2] Structural Limitations - The weakness in the secondary sector highlights the structural limitations of Cameroon’s economy, which remains heavily reliant on the export of primary raw materials and lacks local deep processing capabilities [2]

7月11日，意大利央行发布最新经济公报，其中，意大利央行预测今年意大利GDP将增长0.6%，未来两 年平均增长约0.8%。 ...