内需对国内生产总值增长的贡献率达68.8%，其中最终消费支出贡献率为52%——今年上半年，内需作 为拉动经济增长的主动力和稳定锚，稳定有力发挥作用。 习近平总书记指出："扩大内需既关系经济稳定，也关系经济安全，不是权宜之计，而是战略之举。" 释放潜能—— 超大规模市场体量更大 "既有好风景又有好天气，真是选对了地方。"来自广东广州市的游客李博伟带着家人到云南曲靖市旅 游。白天自驾到周边欣赏美景，傍晚在市区悠闲地"City Walk（城市漫步）"，慢节奏的生活让一家人流 连忘返，把原计划一周的行程又延长了几天。 "20多间客房上个月就被预订一空。"曲靖马龙区鸡头村街道桃园社区一家民宿的主理人唐丽娟说。数据 显示，入夏以来，曲靖接待游客量同比显著增长，其中旅居超过15天的游客数量明显增加。 各地区各部门加大力度实施扩大内需战略，采取更加有力的措施，大力提振消费、提高投资效益，全方 位扩大国内需求，更好发挥超大规模市场优势，推动高质量发展取得新的更大成效。 看消费，市场销售增速回升，服务消费亮点突出。 "原本打算买一款普通的挂式空调，到店后发现可以享受以旧换新补贴，决定升级为最新款的无风感空 调。"上海杨浦区一家家 ...

Group 1 - Domestic demand is the main driver of economic growth in the first half of the year, contributing 68.8% to economic growth, with a significant increase to 77% in the second quarter [1][3] - Final consumption expenditure contributed 52% to economic growth, with retail sales of home appliances and cultural office supplies increasing over 25% year-on-year [1][2] - The service consumption growth rate was 4.9% year-on-year, with strong demand in cultural entertainment and tourism sectors [1][3] Group 2 - Capital formation contributed 16.8% to economic growth, with equipment investment increasing by 17.3% and infrastructure investment by 4.6% [2][4] - Investment in high-tech sectors such as aerospace and computer manufacturing grew by 26.3% and 21.5% respectively, indicating a shift towards new economic drivers [2][4] - High-tech service industry investment increased by 8.6%, with information services growing by 37.4% [2][4] Group 3 - The domestic market's size and potential for consumption and investment are highlighted as unique advantages for the economy, with a population of over 1.4 billion and a per capita GDP exceeding $13,000 [3][4] - There is significant potential for growth in service consumption and investment, with a focus on improving income and leisure time for consumers [4][5] - Strategies to enhance service quality and support innovation in consumption scenarios are emphasized to stimulate further growth [4][5]

Group 1 - The core viewpoint emphasizes strengthening the domestic circulation as a strategic move for stable economic growth, requiring the removal of both physical barriers and institutional inertia [1][3] - The State Council's meeting on July 16 highlighted the importance of domestic demand as the main driver of China's economic development, with final consumption contributing an average of 56.2% to economic growth over the past four years, an increase of 8.6 percentage points compared to the "13th Five-Year Plan" period [1] - In the first half of this year, domestic demand contributed 68.8% to GDP growth, with final consumption expenditure accounting for 52%, underscoring its role as the main economic driver [1] Group 2 - The policy of replacing old consumer goods is seen as a crucial measure to expand effective demand and facilitate economic circulation, particularly in the automotive and home appliance sectors [2] - On the supply side, increasing investment in new productive forces and emerging service industries can create new demand, promoting a positive interaction between consumption and industrial upgrades [2] - To break through existing barriers, enhancing policy precision and operability, as well as inter-departmental collaboration, is essential to address issues like local protectionism and data silos [2] Group 3 - The need for a high-quality domestic market is emphasized, which requires addressing deep-seated contradictions and issues that restrict domestic circulation [2][3] - Comprehensive reforms and improvements in institutional mechanisms and policy systems are necessary to enhance independent innovation capabilities, providing sufficient momentum for domestic circulation [2]

国家统计局发布的数据显示，今年上半年，我国国内生产总值（GDP）同比增长5.3%，比去年同期和 全年均提升0.3个百分点。受访专家认为，中国经济在应对风险挑战中展现出强劲韧性，为实现全年目 标打下了较好基础。当前外部不稳定不确定因素较多，国内有效需求不足，经济回升向好基础仍需加力 巩固。 经济增长含金量高 5.3%的增长，含金量高在哪儿？ 发展韧性更强—— 中国国际经济交流中心副理事长王一鸣表示，当前外部环境继续发生深刻变化，地缘政治动荡加剧，全 球经济增长动力减弱。我国经济处在新旧动能转换期，传统产业增势减弱，房地产市场深度调整，新兴 产业仍在成长。上半年经济实现5.3%的增长，表明中国经济韧性持续增强，也为实现全年经济增长目 标奠定了较好基础。 运行稳定性增强—— "上半年经济运行稳定性远超预期，实体经济和金融市场'双稳'态势明显。"国家发展改革委宏观经济研 究院副院长郭春丽认为，经济运行"稳"的态势不仅表现在GDP同比增长5.3%、比去年同期和全年均提升 0.3个百分点，就业、物价、工业、服务业、消费、投资、出口等主要指标总体保持稳定，还表现在经 济运行季度间波动明显减少。一、二季度GDP同比增长分别为 ...

Group 1 - The A-share market showed positive performance on July 18, with the Consumer ETF (159928) rising nearly 1% and achieving a trading volume exceeding 260 million yuan, marking a net inflow of over 85 million yuan over the past four days [1][3] - The Consumer ETF (159928) has a total scale exceeding 12.2 billion yuan, leading its peers significantly [1] - Key stocks within the Consumer ETF saw gains, including Luzhou Laojiao and Xin Nuo Wei rising over 3%, Shanxi Fenjiu over 2%, and Guizhou Moutai and Muyuan Foods over 1% [3] Group 2 - The external environment for the food delivery market is evolving, with a significant increase in competition among major players, leading to a surge in daily orders [8] - The online food delivery market has expanded rapidly, with online dining accounting for nearly 25% of total dining consumption, while dining revenue constitutes about 11.2% of total retail sales [5] - The impact of delivery subsidies is expected to drive a substantial increase in overall dining revenue, with projections indicating a 48.6% year-on-year growth in food delivery revenue for July [11]

Group 1 - The core idea of the news is the collaboration between Focus Media and Alipay, introducing a new advertising and consumer engagement method in elevators, allowing users to receive cash red envelopes, platform coupons, or brand discount coupons by simply tapping their phones on a designated device [1][3][5] - The initiative targets 400 million urban consumers, aiming to activate consumer spending during idle time while waiting for elevators [1][5] - The process to claim benefits is simplified into three steps: unlocking the phone, tapping it near the blue ring, and receiving the rewards directly into the Alipay wallet [2][4] Group 2 - The types of benefits include cash red envelopes with no usage restrictions, platform coupons for various categories like supermarkets and dining, and brand-specific discount coupons that can be used both online and offline [4] - The project is expected to inject new vitality into the consumer economy, transforming elevator advertising from passive exposure to active participation, aligning with national policies to stimulate consumption [5] - The technology used ensures that personal information remains secure, as the interaction only triggers coupon collection without linking to sensitive data like ID numbers or bank details [5]

Economic Overview - Beijing's GDP grew by 5.5% year-on-year in the first half of 2023, reaching 25,029.2 billion yuan [2][3] - The contribution rate of the information transmission, software, and IT services, financial, and industrial sectors to economic growth was 87.0%, an increase of 2.7 percentage points year-on-year [1][4] Real Estate Market - New residential property sales area increased by 5.4%, with pure commodity residential sales up by 33.8% [1][5] - The area of second-hand residential transactions saw a 22% increase, while transaction volume rose by 18.6% [1][5] - Real estate development investment decreased by 7.5%, and the total construction area fell by 8.0% [3][4] Investment Trends - Fixed asset investment (excluding rural households) grew by 14.1%, with equipment purchase investment surging by 99.0%, accounting for 28.2% of total fixed asset investment [2][3] - High-tech industry investment remained active, increasing by 72.9%, particularly in information services, automotive manufacturing, and electronics [3][4] Consumer Market - Total market consumption in Beijing grew by 0.9%, while consumer prices fell by 0.3% [3][4] - Service consumption accounted for nearly 60% of total household spending, indicating a shift towards service-oriented consumption [4] Employment and Income - The urban surveyed unemployment rate remained stable at 4.1% [1][2] - Per capita disposable income reached 45,144 yuan, reflecting a year-on-year growth of 4.8%, with a real increase of 5.1% after adjusting for price factors [1][2]

Economic Growth and Demand - China's GDP grew by 5.3% year-on-year in the first half of the year, showing resilience despite a complex internal and external environment [2] - Investment growth rate decreased from 4.2% in Q1 to 2.8% in H1, below last year's annual growth rate of 3.2% [2] - Consumer spending increased from 4.6% to 5% year-on-year, but June's growth of 4.8% was a decline from May [2] Price Levels and Market Dynamics - June's CPI rose by 0.1% year-on-year, significantly below the 2% annual target, while PPI's decline expanded from -2.2% to -3.6% [3] - The persistent low price levels indicate a significant supply-demand imbalance, leading to reduced confidence among businesses and consumers [3][4] - Market mechanisms are exacerbating demand contraction, as low prices lead to cautious investment and consumption behaviors [3][4] Investment Trends - Investment growth in Q2 showed a notable decline, influenced by falling market prices and cautious corporate outlooks [7] - Real estate investment fell by 11.2% year-on-year in H1, with a 9.9% decline in Q1, reflecting weak demand and market sentiment [7][8] - The manufacturing sector's investment growth decreased due to negative expectations regarding future sales and profitability [7] Government Role and Policy Recommendations - The government is urged to increase public investment to counteract demand contraction and stimulate economic growth [9][11] - There is a need for a proactive macroeconomic policy to address the prolonged demand contraction and its underlying issues [9][10] - The government has the capacity to enhance public goods and services, which can effectively stimulate demand and support economic recovery [10][12]

Core Viewpoint - China's economy achieved a growth rate of 5.3% in the first half of the year, with a manageable pressure to meet the annual economic target, as stated by Zhang Jun, Chief Economist at China Galaxy Securities [1] Group 1: Economic Growth and Predictions - Several international institutions have raised their GDP growth forecasts for China, with Morgan Stanley and Barclays predicting nearly 5% growth, and ANZ forecasting 5.1% [1] - Domestic demand has become the main engine of economic growth, contributing 68.8% to GDP growth, with final consumption expenditure accounting for 52% [4] Group 2: Advantages of China's Economy - China possesses four major advantages that drive its endogenous economic growth: a super-large market, a complete industrial system, technological innovation and talent dividends, and policy stability [2][3] - The super-large market advantage is supported by a consumption base of 1.4 billion people, which helps buffer external demand fluctuations [3] - The complete industrial system advantage allows for a highly coordinated supply chain, reducing production costs and enhancing risk resilience [3] - The technological innovation and talent advantage is characterized by a large pool of research talent and significant R&D investment, fostering breakthroughs in both basic and applied research [3] - Policy stability and institutional advantages enable the government to implement consistent policies that support economic transformation and structural reforms [3] Group 3: Consumption Trends - The retail sales of consumer goods (referred to as "社零") have become a key indicator of consumption trends, reflecting the shift towards a consumption-driven growth model [5] - In the first half of the year, retail sales grew by 5.0%, with significant growth in upgraded consumption categories such as home appliances and sports goods [5] - Service retail sales increased by 5.3%, indicating a shift in consumer behavior towards services and quality [5] Group 4: Policy Recommendations - Future policy goals should focus on promoting reasonable price recovery, expanding domestic demand, and enhancing macroeconomic policy adjustments [8] - Recommendations include maintaining stability in policies like "old-for-new" exchanges, increasing fiscal tools, and deepening supply-side structural reforms [8]

今年上半年，最终消费支出对经济增长的贡献率达52%，较去年全年提高了7.5个百分点。这是一揽子 增量政策持续显效的结果，也是超大规模国内市场的潜力所在。下半年，扩大内需、提振消费宜乘势而 上，推动各类可感可及举措早出尽出。上半年我国GDP同比增长5.3%，含金量十足。取得可喜成绩的 同时，也应保持一份冷静——社会消费品零售总额增速、固定资产投资增速进入6月后有所放缓。此 外，去年三季度以来，中央加力支持"两新"政策取得显著成效，但也为今年下半年的消费增长带来高基 数挑战。因此，扩内需的各项政策举措还需持续用力。（人民财讯） ...