Core Viewpoint - The article highlights the growth trends in China's retail sales, fixed asset investment, and industrial production for June 2025, indicating a mixed economic recovery with varying performance across sectors and regions [1][6][14]. Retail Sales - In June 2025, the total retail sales of consumer goods reached 42,287 billion yuan, marking a year-on-year growth of 4.8% [5] - Urban retail sales amounted to 36,559 billion yuan, growing by 4.8%, while rural retail sales were 5,728 billion yuan, with a growth of 4.5% [2] - For the first half of 2025, total retail sales were 245,458 billion yuan, reflecting a 5.0% increase, with non-automobile retail sales growing by 5.5% [5] Fixed Asset Investment - In the first half of 2025, fixed asset investment (excluding rural households) totaled 248,654 billion yuan, with a year-on-year increase of 2.8% [7] - The investment in the primary industry was 4,816 billion yuan (up 6.5%), while the secondary industry saw an investment of 88,294 billion yuan (up 10.2%), and the tertiary industry experienced a decline of 1.1% with 155,543 billion yuan [8] - The eastern region's investment decreased by 0.8%, while the central and western regions saw increases of 3.2% and 4.8%, respectively [11] Industrial Production - In June 2025, the industrial added value for large-scale enterprises grew by 6.8% year-on-year, with a month-on-month increase of 0.50% [15] - The manufacturing sector showed a growth of 7.4%, while the electricity, heat, gas, and water production and supply sector grew by 1.8% [16] - Among 41 major industries, 36 reported year-on-year growth in added value, with notable increases in coal mining (6.5%), chemical manufacturing (7.5%), and automotive manufacturing (11.4%) [17] Online Retail - In the first half of 2025, online retail sales reached 74,295 billion yuan, reflecting an 8.5% year-on-year growth, with physical goods online retail sales at 61,191 billion yuan (up 6.0%) [4] - The share of physical goods online retail sales in total retail sales was 24.9%, with food, clothing, and daily necessities growing by 15.7%, 1.4%, and 5.3%, respectively [4] Capacity Utilization - The capacity utilization rate for large-scale industries in the second quarter of 2025 was 74.0%, down 0.1 percentage points from the previous quarter [21] - The manufacturing sector's capacity utilization was 74.3%, while the mining sector was at 72.7% [22]

Economic Performance - 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% at constant prices [1] - The GDP growth for the first quarter was 5.4%, while the second quarter saw a growth of 5.2% [1] - The quarter-on-quarter GDP growth in the second quarter was 1.1% [1] Sector Performance - Agricultural value added grew by 3.7%, with a total summer grain output of 149.74 million tons [1] - Industrial value added for large-scale enterprises increased by 6.4%, with equipment manufacturing and high-tech manufacturing growing by 10.2% and 9.5% respectively, outpacing the overall industrial growth by 3.8 and 3.1 percentage points [1] - The service sector's value added rose by 5.5%, accelerating by 0.2 percentage points compared to the first quarter [1] Investment and Consumption - The total retail sales of consumer goods reached 24,545.8 billion yuan, growing by 5% year-on-year, which is an acceleration of 0.4 percentage points from the first quarter [1] - Fixed asset investment (excluding rural households) amounted to 24,865.4 billion yuan, with a year-on-year growth of 2.8%; excluding real estate development investment, the growth was 6.6% [1] Trade and Employment - The total import and export value of goods was 21,787.6 billion yuan, with a year-on-year increase of 2.9% [2] - The share of private enterprises in total imports and exports rose to 57.3%, an increase of 2.3 percentage points from the previous year [2] - The average urban unemployment rate was 5.2%, a decrease of 0.1 percentage points from the first quarter [2] Consumer Prices and Income - The Consumer Price Index (CPI) decreased by 0.1% year-on-year, while the core CPI, excluding food and energy, increased by 0.4%, expanding by 0.1 percentage points from the first quarter [2] - The per capita disposable income of residents was 21,840 yuan, with a nominal year-on-year growth of 5.3%, and a real growth of 5.4% after adjusting for price factors [2] Policy Outlook - The macroeconomic policies have shown effectiveness, contributing to a stable and improving economic performance [2] - There is a need to strengthen domestic demand and ensure sustainable economic recovery amidst external uncertainties [2]

Economic Overview - The preliminary GDP for the first half of 2025 is 66,053.6 billion yuan, showing a year-on-year growth of 5.3% at constant prices [2] - The industrial added value for large-scale industries increased by 6.4% year-on-year in the first half, with a 6.8% growth in June [5] Investment and Consumption - National fixed asset investment (excluding rural households) reached 24,865.4 billion yuan in the first half, marking a year-on-year increase of 2.8% [8] - The total retail sales of consumer goods amounted to 24,545.8 billion yuan in the first half, reflecting a year-on-year growth of 5.0%, with a 4.8% increase in June [11] Price Indices - The Consumer Price Index (CPI) decreased by 0.1% year-on-year in the first half, with a slight increase of 0.1% in June [15] - The Producer Price Index (PPI) fell by 2.8% year-on-year in the first half, with a 3.6% decline in June [16] Financial Indicators - The total social financing scale increased by 22.83 trillion yuan in the first half, which is 4.74 trillion yuan more than the same period last year [19] - New RMB loans added up to 12.92 trillion yuan in the first half [20] - The broad money supply (M2) reached 330.29 trillion yuan at the end of June, showing a year-on-year growth of 8.3% [21] Trade Performance - The total import and export value of goods reached 21.79 trillion yuan in the first half, reflecting a year-on-year growth of 2.9% [25]

Economic Performance - In the first half of the year, the domestic GDP reached 66,053.6 billion yuan, with a year-on-year growth of 5.3% at constant prices [1] - The primary industry added value was 31,172 billion yuan, growing by 3.7%; the secondary industry added value was 239,050 billion yuan, growing by 5.3%; and the tertiary industry added value was 390,314 billion yuan, growing by 5.5% [1] - In Q1, the GDP grew by 5.4% year-on-year, while in Q2, it grew by 5.2% [1] - The quarter-on-quarter GDP growth in Q2 was 1.1% [1] Industrial and Service Sector Growth - The industrial added value for large-scale enterprises increased by 6.4% year-on-year in the first half of the year [1] - The service sector's added value also grew by 5.5% year-on-year [1] - The total retail sales of consumer goods reached 245,458 billion yuan, with a year-on-year growth of 5.0% [1] - Fixed asset investment (excluding rural households) was 248,654 billion yuan, growing by 2.8% year-on-year [1] - The total import and export value was 217,876 billion yuan, with a year-on-year increase of 2.9% [1] June Economic Indicators - In June, the industrial added value for large-scale enterprises grew by 6.8% year-on-year [2] - The retail sales of consumer goods in June increased by 4.8% year-on-year [2] Policy and Economic Outlook - The macroeconomic policies have shown effectiveness, leading to a stable and improving economic trend [2] - There are external uncertainties and insufficient domestic demand, indicating that the foundation for economic recovery needs to be strengthened [2] - Future efforts will focus on balancing domestic economic work and international trade challenges, emphasizing the importance of high-quality development to address external uncertainties [2]

中国6月社会消费品零售总额环比 -0.16%，前值0.93%。 ...

Core Insights - In June, the total retail sales of consumer goods reached 42,287 billion yuan, with a year-on-year growth of 4.8% [1] - For the first half of the year, the total retail sales amounted to 245,458 billion yuan, reflecting a year-on-year increase of 5.0% [1] Group 1: Retail Sales Breakdown - Excluding automobiles, the retail sales of consumer goods in June were 37,649 billion yuan, also growing by 4.8% [1] - From January to June, the retail sales excluding automobiles totaled 221,990 billion yuan, with a growth rate of 5.5% [1] - In June, urban retail sales reached 36,559 billion yuan, marking a 4.8% increase, while rural retail sales were 5,728 billion yuan, growing by 4.5% [3] Group 2: Consumption Type Analysis - In June, the retail sales of goods were 37,580 billion yuan, showing a year-on-year growth of 5.3%, while catering revenue was 4,708 billion yuan, with a modest increase of 0.9% [3] - For the first half of the year, the retail sales of goods reached 217,978 billion yuan, growing by 5.1%, and catering revenue totaled 27,480 billion yuan, increasing by 4.3% [3] Group 3: Online Retail Performance - In the first half of the year, the online retail sales reached 74,295 billion yuan, with a year-on-year growth of 8.5% [5] - Among online retail, the sales of physical goods were 61,191 billion yuan, growing by 6.0%, accounting for 24.9% of total retail sales [5] Group 4: Retail Formats Performance - For the first half of the year, retail sales from convenience stores, supermarkets, department stores, specialty stores, and brand stores grew by 7.5%, 5.4%, 1.2%, 6.4%, and 2.4% respectively [5]

中国1至6月社会消费品零售总额同比 5%，前值 5%。 ...

中国6月社会消费品零售总额同比 4.8%，预期5.6%，前值6.40%。 ...

智通财经7月15日电，据国家统计局，6月份，社会消费品零售总额42287亿元，同比增长4.8%。其中， 除汽车以外的消费品零售额37649亿元，增长4.8%。1—6月份，社会消费品零售总额245458亿元，同比 增长5.0%。其中，除汽车以外的消费品零售额221990亿元，增长5.5%。 国家统计局：6月份社会消费品零售总额增长4.8% ...

Group 1: Overall Retail Performance - In June, the total retail sales of consumer goods reached 42,287 billion yuan, with a year-on-year growth of 4.8% [5] - From January to June, the total retail sales of consumer goods amounted to 245,458 billion yuan, growing by 5.0% year-on-year [5] Group 2: Urban and Rural Consumption - In June, urban retail sales were 36,559 billion yuan, increasing by 4.8% year-on-year, while rural retail sales were 5,728 billion yuan, growing by 4.5% [2][5] - For the first half of the year, urban retail sales totaled 213,050 billion yuan, up 5.0%, and rural retail sales reached 32,409 billion yuan, with a growth of 4.9% [2][5] Group 3: Retail by Type - In June, the retail sales of goods were 37,580 billion yuan, reflecting a year-on-year increase of 5.3%, while catering revenue was 4,708 billion yuan, growing by 0.9% [5] - For the first six months, the retail sales of goods totaled 217,978 billion yuan, with a growth of 5.1%, and catering revenue reached 27,480 billion yuan, increasing by 4.3% [5] Group 4: Online Retail Performance - From January to June, online retail sales reached 74,295 billion yuan, with a year-on-year growth of 8.5% [4] - Among online retail, the sales of physical goods were 61,191 billion yuan, growing by 6.0%, accounting for 24.9% of total retail sales [4] Group 5: Retail by Format - For the first half of the year, retail sales in convenience stores, supermarkets, department stores, specialty stores, and brand stores grew by 7.5%, 5.4%, 1.2%, 6.4%, and 2.4% respectively [4]