Economic Overview - The province achieved a GDP of 31,683.80 billion yuan in the first half of the year, with a year-on-year growth of 5.7%, surpassing the national average by 0.4 percentage points [1] - The primary industry added value was 2,252.14 billion yuan, growing by 2.7%; the secondary industry added value was 12,189.39 billion yuan, growing by 6.0%; and the tertiary industry added value was 17,242.27 billion yuan, also growing by 6.0% [1] Industrial Performance - The province's industrial output value above designated size grew by 8.4% year-on-year, exceeding the national growth rate by 2.0 percentage points [2] - The manufacturing sector's output value increased by 9.8%, contributing 90.7% to the overall industrial growth [2] - Key industrial chains showed significant support, with a 9.5% increase in output value for these chains [2] - The automotive manufacturing sector saw a remarkable growth of 24.5%, while electrical machinery and equipment manufacturing grew by 21.2% [2] Service Sector Growth - The service sector's added value increased by 6.0%, with a notable acceleration from the first quarter [2] - The film and television production industry experienced a substantial growth of 89.0% in revenue from January to May [2] Investment Trends - Fixed asset investment in the province grew by 5.1%, outpacing the national growth rate by 2.3 percentage points [3] - Investment in key industrial chains surged by 25.2%, significantly contributing to overall investment growth [3] - Private investment rose by 8.3%, further boosting the province's investment landscape [3] Consumer Market Dynamics - The total retail sales of consumer goods reached 14,201.55 billion yuan, with a year-on-year growth of 7.2%, higher than the national average by 2.2 percentage points [3] - Online retail sales increased by 16.3%, significantly outpacing the national growth rate by 7.8 percentage points [3] Emerging Industries - High-tech manufacturing output value grew by 14.9%, indicating strong momentum in emerging sectors [3] - The new energy vehicle industry saw a remarkable growth of 30.5% in output value [3]

Core Viewpoint - In the first half of the year, final consumption expenditure contributed 52% to China's economic growth, highlighting the emergence of new consumption patterns and models that invigorate economic momentum [1] Group 1: Consumption Data - In the first half of the year, the total retail sales of consumer goods reached 24.55 trillion yuan, representing a year-on-year growth of 5%, with a second-quarter growth of 5.4%, accelerating by 0.8 percentage points compared to the first quarter [3] - The structure of consumption shows an increase in the proportion of service consumption, with holiday consumption driving significant growth, particularly during the "Spring Festival," "May Day," and "Dragon Boat Festival," which saw record high numbers of travelers [3][5] - Certain upgraded consumption categories, such as sports goods and gold and jewelry, experienced accelerated growth, while the "old-for-new" policy boosted the consumption of new energy vehicles, energy-saving appliances, and smart home devices [3] Group 2: Policy and Future Outlook - The expansion of the visa-free "circle" has led to an increase in foreign tourists visiting China, which in turn stimulates domestic consumption, with a 72.7% year-on-year increase in foreign visitors during the "May Day" and "Dragon Boat Festival" holidays [5] - The continuation of supportive consumption policies indicates a strong foundation for consumption development in the second half of the year, as China is at a critical stage of consumption structure upgrading, with per capita GDP stabilizing above $13,000 for two consecutive years [7] - The future growth potential of consumption in China is viewed positively, with expectations for continued policy support to improve residents' income levels and enhance the consumption environment [9]