每经编辑｜程鹏 今天（8月15日）上午，国务院新闻办召开新闻发布会，国家统计局公布了今年7月份经济数据。 7月份，全国规模以上工业增加值同比增长5.7%，全国服务业生产指数同比增长5.8%，社会消费品零售总额同比增长3.7%，国民经济保持稳中有进发展态 势，生产需求持续增长，就业物价总体稳定，新质生产力培育壮大，高质量发展取得新成效。 另外，8月15日，国家统计局新闻发言人付凌晖在发布会上表示，上半年最终消费支出对经济增长贡献率达到52%，比上年全年提升7.5个百分点。1-7月 份，货物进出口总额同比增长3.5%，货物周转量、旅客周转量均保持较快增长。随着全国统一大市场建设纵深推进，依法依规治理企业无序竞争，促进 核心CPI连续回升 1-7月全国网上零售额86835亿元 按消费类型分，7月份，商品零售额34276亿元，同比增长4.0%；餐饮收入4504亿元，增长1.1%。1—7月份，商品零售额252254亿元，增长4.9%；餐饮收 入31984亿元，增长3.8%。 同比增长9.2% 具体来看，工业生产较快增长，装备制造业和高技术制造业发展较好。7月份，全国规模以上工业增加值同比增长5.7%，环比增长0.38% ...

Core Viewpoint - In July, under the strong leadership of the Central Committee of the Communist Party of China, the national economy maintained a steady and progressive development trend, with continuous growth in production demand, stable employment and prices, and new achievements in high-quality development [1]. Group 1: Industrial Production - In July, the industrial added value above designated size increased by 5.7% year-on-year and 0.38% month-on-month. The mining industry grew by 5.0%, manufacturing by 6.2%, and electricity, heat, gas, and water production and supply by 3.3% [2]. - The equipment manufacturing industry saw an 8.4% year-on-year increase, while high-tech manufacturing grew by 9.3%, outperforming the overall industrial growth by 2.7 and 3.6 percentage points respectively [2]. - The manufacturing purchasing manager index was at 49.3%, and the business activity expectation index was at 52.6% [2]. Group 2: Service Sector - The national service production index increased by 5.8% year-on-year in July, with significant growth in information transmission, software and IT services (11.9%), finance (8.7%), and leasing and business services (8.0%) [3]. - The business activity index for the service sector was at 50.0%, while the business activity expectation index was at 56.6% [3]. Group 3: Market Sales - In July, the total retail sales of consumer goods reached 38,780 billion yuan, a year-on-year increase of 3.7% [4]. - Online retail sales amounted to 86,835 billion yuan, growing by 9.2% year-on-year, with physical goods online retail sales at 70,790 billion yuan, a 6.3% increase [4]. - The sales of essential and some upgraded consumer goods showed strong growth, with significant increases in categories such as home appliances and furniture [4]. Group 4: Fixed Asset Investment - From January to July, fixed asset investment (excluding rural households) reached 288,229 billion yuan, a year-on-year increase of 1.6% [5]. - Manufacturing investment grew by 6.2%, while real estate development investment decreased by 12.0% [5]. - High-tech industries such as aerospace and information services saw substantial investment growth, with increases of 33.9% and 32.8% respectively [5]. Group 5: Trade and Employment - In July, the total value of goods imports and exports reached 39,102 billion yuan, a year-on-year increase of 6.7% [6]. - The average urban survey unemployment rate from January to July was 5.2%, with a slight increase in July compared to the previous month [7]. Group 6: Consumer Prices - In July, the national consumer price index (CPI) remained flat year-on-year, with a month-on-month increase of 0.4% [8]. - Core CPI, excluding food and energy prices, rose by 0.8% year-on-year, indicating a slight increase in inflationary pressure [8].

Economic Performance Overview - In July, the industrial production showed a rapid growth with a year-on-year increase of 5.7% and a month-on-month increase of 0.38%. For the first seven months, the industrial added value increased by 6.3% year-on-year [1] - The total retail sales of consumer goods in July reached 38,780 billion yuan, marking a year-on-year growth of 3.7% but a month-on-month decline of 0.14% [1] - Fixed asset investment (excluding rural households) for the first seven months amounted to 288,229 billion yuan, with a year-on-year growth of 1.6%. Excluding real estate development investment, the growth rate was 5.3% [1] Economic Stability and Growth Factors - Despite fluctuations in some economic indicators in July, the overall growth rate of major indicators remains stable, with employment and prices generally stable. The economy is maintaining a steady growth trend [2] - The expansion of market demand is supported by ongoing consumption initiatives, with retail sales of consumer goods growing by 4.8% year-on-year in the first seven months, and service retail sales increasing by 5.2% [2] - The high-tech manufacturing industry saw a year-on-year increase of 9.5% in added value for the first seven months, indicating a positive development in new productive forces [3] Trade and Export Dynamics - In July, the total import and export volume increased by 6.7% year-on-year, reflecting strong resilience and vitality in foreign trade [5] - The diversification of foreign trade is showing positive results, with exports to ASEAN, the EU, and countries involved in the Belt and Road Initiative growing by 14.8%, 8.2%, and 11.7% respectively in the first seven months [6] - The export of mechanical and electrical products increased by 9.3%, with integrated circuit exports growing by 21.8% [6] Price Trends and Inflation - In July, the Consumer Price Index (CPI) rose by 0.4% month-on-month, reversing a previous decline, while the Producer Price Index (PPI) saw a month-on-month decrease of 0.2%, with the decline narrowing compared to the previous month [7] - The improvement in market supply and demand relationships has led to some positive changes in prices, with certain sectors experiencing reduced competitive pressure [7]

Economic Overview - In July, China's economy showed steady progress with improved economic data, driven by effective policies to stabilize growth [1][4] - The industrial production, consumption, and service sectors all experienced certain improvements, contributing to a stronger capital market [1][4] Industrial Production - In July, the industrial added value for large-scale enterprises grew by 5.7% year-on-year and 0.38% month-on-month [1] - The equipment manufacturing and high-tech manufacturing sectors performed particularly well, with year-on-year growth rates of 8.4% and 9.3%, respectively [1] Service Sector - The service sector production index increased by 5.8% year-on-year in July, with notable growth in information transmission, software, and financial services [2] - Social retail sales reached 38,780 billion yuan, a year-on-year increase of 3.7%, with online retail sales growing by 9.2% [2] Fixed Asset Investment - From January to July, fixed asset investment rose by 1.6% year-on-year, with a 5.3% increase when excluding real estate development investment [3] - Real estate development investment continued to decline, dropping by 12% year-on-year in July [3] Trade Performance - In July, the total value of goods imports and exports grew by 6.7% year-on-year, with exports increasing by 8% and imports by 4.81% [3] - The trade structure is improving, with a notable upgrade in the value-added of export products [3] Consumer Prices - The Consumer Price Index (CPI) remained flat year-on-year in July, with a month-on-month increase of 0.4% [3] - The core CPI, excluding food and energy, rose by 0.8% year-on-year, indicating a need for measures to boost consumption and investment [3] Capital Market Dynamics - The capital market is showing signs of strength, with the Shanghai Composite Index surpassing 3,700 points, indicating increasing investor confidence [1][4] - New stock accounts opened in July approached 2 million, and trading volume has significantly increased, reflecting a growing willingness of outside funds to enter the market [4] Investment Opportunities - Compared to the U.S. stock market, which is at historical highs, A-shares and Hong Kong stocks remain below historical average valuations, presenting a favorable investment opportunity [5] - Investors are encouraged to consider quality stocks or funds to capitalize on the current market conditions for wealth growth [5]

Group 1 - In July, the industrial added value of large-scale industries increased by 5.7% year-on-year, a slight decline of 1.1 percentage points compared to the first half of the year [1] - From January to July, the industrial added value grew by 6.3% year-on-year [1] - Among the three major sectors, mining increased by 5.0%, manufacturing by 6.2%, and electricity, heat, gas, and water production and supply by 3.3% in July [1] Group 2 - In July, 35 out of 41 major industries maintained year-on-year growth in added value, with notable increases in chemical manufacturing (7.2%), transportation equipment manufacturing (13.7%), electrical machinery (10.2%), and computer and electronic equipment manufacturing (10.2%) [1] - The equipment manufacturing sector saw an 8.4% increase in added value, while high-tech manufacturing grew by 9.3%, both exceeding the overall industrial growth rate by 2.7 and 3.6 percentage points respectively [1] - The policy for equipment updates has stimulated demand across industries for upgrading equipment, supported by financial assistance and policy incentives [1] Group 3 - The National Development and Reform Commission announced that 188 billion yuan of special government bonds for equipment updates have been allocated, supporting approximately 8,400 projects across various sectors, leading to a total investment exceeding 1 trillion yuan [2] - Analysts predict that industrial production momentum may weaken in the second half of the year due to declining exports and increased domestic consumption and investment efforts [3] - The overall industrial production growth rate is expected to slow down, potentially aligning with or slightly below GDP growth, indicating a shift in economic growth drivers towards the service sector [3] Group 4 - The Ministry of Industry and Information Technology plans to introduce growth stabilization measures for key industries such as steel, non-ferrous metals, petrochemicals, and building materials [4] - The ministry aims to support major industrial provinces in implementing supportive policies, fostering new growth points, and enhancing industrial transformation to stabilize industrial economic operations [4]

总的来看，7月份宏观政策发力显效，国民经济克服外部环境复杂多变和国内极端天气等不利影响，保 持稳中有进发展态势，展现出较强韧性和活力。 来源：央视新闻 校对：彭其华 服务业较快增长，现代服务业增势良好。7月份，全国服务业生产指数同比增长5.8%。 市场销售继续增长，服务零售增长较快。7月份，社会消费品零售总额38780亿元，同比增长3.7%。 固定资产投资继续扩大，制造业投资增长较快。1-7月份，全国固定资产投资（不含农户）288229亿 元，同比增长1.6%。 （原标题：刚刚，国家统计局公布！） 今天（8月15日）上午，国务院新闻办召开新闻发布会，国家统计局公布了今年7月份经济数据。相关负 责人表示，7月份，我国加紧实施更加积极有为的宏观政策，纵深推进全国统一大市场建设，国民经济 保持稳中有进发展态势，生产需求持续增长，就业物价总体稳定，新质生产力培育壮大，高质量发展取 得新成效。 具体来看，工业生产较快增长，装备制造业和高技术制造业发展较好。7月份，全国规模以上工业增加 值同比增长5.7%，环比增长0.38%。装备制造业增加值同比增长8.4%，高技术制造业增加值增长9.3%， 分别快于全部规模以上工业增加 ...

Core Viewpoint - The national economy maintained a steady and progressive development trend in July, with continuous growth in production and demand, stable employment and prices, and notable achievements in high-quality development [2][11]. Industrial Production - In July, the industrial added value of enterprises above designated size increased by 5.7% year-on-year and 0.38% month-on-month. The mining industry grew by 5.0%, manufacturing by 6.2%, and electricity, heat, gas, and water production and supply by 3.3% [3][17]. - The equipment manufacturing industry saw an 8.4% increase, while high-tech manufacturing grew by 9.3%, outperforming the overall industrial growth by 2.7 and 3.6 percentage points respectively [3][17]. - The profit of industrial enterprises above designated size totaled 34,365 billion yuan in the first half of the year, a decrease of 1.8% year-on-year [3]. Service Industry - The service production index rose by 5.8% year-on-year in July, with significant growth in information transmission, software, and IT services (11.9%), finance (8.7%), and leasing and business services (8.0%) [4][5]. - The revenue of service enterprises above designated size increased by 7.5% year-on-year in the first half of the year [4]. Market Sales - The total retail sales of consumer goods reached 38,780 billion yuan in July, marking a 3.7% year-on-year increase [6][18]. - Online retail sales amounted to 86,835 billion yuan, growing by 9.2% year-on-year, with physical goods online retail sales at 70,790 billion yuan, a 6.3% increase [6][18]. Fixed Asset Investment - From January to July, fixed asset investment (excluding rural households) totaled 288,229 billion yuan, a year-on-year increase of 1.6%, with manufacturing investment growing by 6.2% [7][18]. - Infrastructure investment rose by 3.2%, while real estate development investment fell by 12.0% [7][18]. Trade and Exports - The total value of goods imports and exports reached 39,102 billion yuan in July, a year-on-year increase of 6.7%, with exports growing by 8.0% and imports by 4.8% [8][18]. - From January to July, the total value of goods imports and exports was 256,969 billion yuan, up 3.5% year-on-year [8][18]. Employment Situation - The urban surveyed unemployment rate averaged 5.2% from January to July, with July's rate at 5.2%, unchanged from the previous month [9][18]. Consumer Prices - In July, the Consumer Price Index (CPI) remained flat year-on-year, with a month-on-month increase of 0.4% [10][18]. - Core CPI, excluding food and energy prices, rose by 0.8% year-on-year, indicating a slight increase compared to the previous month [10][18].

Core Insights - In July, the industrial added value of large-scale enterprises in China increased by 5.7% year-on-year and 0.38% month-on-month [1] - The mining industry saw a year-on-year increase of 5.0%, manufacturing increased by 6.2%, and the production and supply of electricity, heat, gas, and water grew by 3.3% [1] - The equipment manufacturing industry experienced an 8.4% year-on-year increase, while high-tech manufacturing grew by 9.3%, outperforming the overall industrial added value by 2.7 and 3.6 percentage points respectively [1] Economic Type Analysis - State-controlled enterprises' added value increased by 5.4% year-on-year; joint-stock enterprises grew by 6.5%, foreign and Hong Kong, Macao, and Taiwan-invested enterprises rose by 2.8%, and private enterprises increased by 5.0% [1] Product Performance - The production of 3D printing equipment, industrial robots, and new energy vehicles increased by 24.2%, 24.0%, and 17.1% year-on-year respectively [1] Overall Industrial Performance - From January to July, the industrial added value of large-scale enterprises increased by 6.3% year-on-year [1] - In July, the manufacturing purchasing managers' index was at 49.3%, while the business activity expectation index was at 52.6% [1] Profitability - From January to June, the total profit of large-scale industrial enterprises reached 34,365 billion yuan, a year-on-year decrease of 1.8% [1]

Economic Overview - In July, under the strong leadership of the Central Committee, the national economy maintained a steady growth trend, with production and demand continuing to rise, and overall employment and prices remaining stable [1][10]. Industrial Production - In July, the industrial added value above designated size increased by 5.7% year-on-year and 0.38% month-on-month. The mining industry grew by 5.0%, manufacturing by 6.2%, and electricity, heat, gas, and water production and supply by 3.3% [2]. - The equipment manufacturing industry saw an 8.4% increase, while high-tech manufacturing grew by 9.3%, outperforming the overall industrial growth by 2.7 and 3.6 percentage points respectively [2]. - From January to July, the industrial added value increased by 6.3% year-on-year, with the manufacturing purchasing managers' index at 49.3% in July [2]. Service Sector - The service production index rose by 5.8% year-on-year in July, with significant growth in information transmission, software, and IT services (11.9%), finance (8.7%), and leasing and business services (8.0%) [3]. - From January to July, the service production index increased by 5.9%, and the revenue of large-scale service enterprises grew by 7.5% in the first half of the year [3]. Retail Sales - In July, the total retail sales of consumer goods reached 38,780 billion yuan, a year-on-year increase of 3.7% [4]. - Online retail sales amounted to 86,835 billion yuan, growing by 9.2%, with physical goods online retail sales at 70,790 billion yuan, up 6.3% [4]. Fixed Asset Investment - From January to July, fixed asset investment (excluding rural households) totaled 288,229 billion yuan, a year-on-year increase of 1.6%, with manufacturing investment growing by 6.2% [5]. - Infrastructure investment rose by 3.2%, while real estate development investment fell by 12.0% [5]. Trade and Exports - In July, the total value of goods imports and exports reached 39,102 billion yuan, a year-on-year increase of 6.7%, with exports growing by 8.0% and imports by 4.8% [6][7]. - From January to July, the total value of goods imports and exports was 256,969 billion yuan, up 3.5% year-on-year [6]. Employment - The urban surveyed unemployment rate averaged 5.2% from January to July, with a slight increase of 0.2 percentage points in July compared to the previous month [8]. Consumer Prices - In July, the Consumer Price Index (CPI) remained flat year-on-year, with a month-on-month increase of 0.4% [9]. - The core CPI, excluding food and energy, rose by 0.8% year-on-year, indicating a slight increase in inflationary pressure [9].

（2025年8月15日） 国家统计局 7月份，在以习近平同志为核心的党中央坚强领导下，各地区各部门认真贯彻落实党中央、国务院决策部署，坚持稳中求进工作总基调，完整准确全面贯彻 新发展理念，加快构建新发展格局，加紧实施更加积极有为的宏观政策，纵深推进全国统一大市场建设，国民经济保持稳中有进发展态势，生产需求持续增 长，就业物价总体稳定，新质生产力培育壮大，高质量发展取得新成效。 一、工业生产较快增长，装备制造业和高技术制造业发展较好 7月份，全国规模以上工业增加值同比增长5.7%，环比增长0.38%。分三大门类看，采矿业增加值同比增长5.0%，制造业增长6.2%，电力、热力、燃气及水 生产和供应业增长3.3%。装备制造业增加值同比增长8.4%，高技术制造业增加值增长9.3%，分别快于全部规模以上工业增加值2.7和3.6个百分点。分经济类 型看，国有控股企业增加值同比增长5.4%；股份制企业增长6.5%，外商及港澳台投资企业增长2.8%；私营企业增长5.0%。分产品看，3D打印设备、工业机 器人、新能源汽车产品产量同比分别增长24.2%、24.0%、17.1%。1-7月份，全国规模以上工业增加值同比增长6.3%。 ...