Economic Overview - Zhuhai's GDP for the first half of the year reached 224.365 billion, with a year-on-year growth of 3.8% [1] - The primary industry added value was 3.004 billion, growing by 3.7%; the secondary industry decreased by 1.3% to 91.755 billion; the tertiary industry increased by 7.4% to 129.606 billion [1] Industrial Performance - The industrial output value above designated size grew by 5.5%, with an increase of 0.7 percentage points compared to the first quarter [1] - The "4+3" industries saw a value increase of 7.2%, with high-end equipment manufacturing, integrated circuits, new energy, and new generation information technology growing by 17.9%, 16.4%, 16.0%, and 15.2% respectively [1] Service Sector Growth - The service sector's added value increased by 7.4%, with information transmission software and IT services growing by 12.1% and leasing and business services by 10.7% [2] - From January to May, the revenue of the service sector above designated size reached 69.681 billion, a year-on-year increase of 10.7% [2] Consumer Market - The total retail sales of social consumer goods reached 46.946 billion, with a growth of 5.0% [2] - Retail sales of daily necessities grew by 9.3%, while the "old-for-new" consumption policy boosted home appliances and communication equipment sales by 40.9% and 131.9% respectively [2] Foreign Trade - Zhuhai's total foreign trade import and export volume reached 168.265 billion, marking an 8.9% year-on-year increase, the highest for the same period historically [2] - Exports totaled 115.417 billion, growing by 4.7%, while imports increased by 19.5% to 52.848 billion [2] Investment Trends - Fixed asset investment decreased by 38.4%, with industrial investment down by 28.0% but showing a 10.3% growth in industrial technological transformation investment [3] - Infrastructure investment fell by 40.6%, and real estate development investment decreased by 42.1% [3] Agricultural Developments - The primary industry saw a 4.9% growth, with fisheries output valued at 5.072 billion, accounting for 76.9% of the total agricultural output [3] - Notable projects include the establishment of the first modern marine ranch in the country and the launch of the world's first deep-sea aquaculture vessel [3]

金十图示：2025年07月31日（周四）新闻联播今日要点 引领,通过开放场景等支持技术落地。要优化人 工智能创新生态,强化算力、算法和数据供给, 加大政策支持力度,加强人才队伍建设,构建开 源开放体系,为产业发展壮大提供有力支撑。要 提升安全能力水平,加快形成动态敏捷、多元协 同的人工智能治理格局。 ● 赵乐际对瑞士进行正式友好访问 * 应瑞士联邦议会国民院议长里尼克和联邦院议长 卡罗尼邀请. 全国人大常委会委员长赵乐际28日 至31日对瑞士进行正式友好访问。赵乐际指出, 中方愿同瑞方保持高层交往良好势头,欢迎更多 瑞方领导人和议员朋友访华,了解真实、立体、 全面的中国。中方赞赏瑞方坚持扩大对华合作, 希望加强交流交往,为中瑞关系发展汇聚更多正 能量。中瑞自贸协定生效以来,双边经贸合作快 速发展,希望共同推进自贸协定升级谈判和金融 领域高质量合作,欢迎瑞资机构扩大在华投资。 深化双方在艺术、体育、教育等领域合作,夯实 两国友好的社会和民意基础。里尼克表示,在坚 持互相尊重、开放和善意的基础上,瑞中关系稳 定发展、成果丰硕。瑞士联邦议会国民院愿同中 国全国人大加强合作,为促进可持续发展发挥积 极作用。 ● 出口 ...

Group 1 - In the first half of the year, China's export scale exceeded 13 trillion yuan for the first time, with private enterprises' import and export scale surpassing 12 trillion yuan [1] - The number of international hub ports in China added over 72 new routes in the first half of the year, with trade growth achieved with over 190 countries and regions [4] - Exports of high-tech products from China grew by 9.2% in the first half of the year, maintaining growth for nine consecutive months [7] Group 2 - Private enterprises are becoming the main force in foreign trade exports, with over 80% of specialized and innovative "little giant" enterprises being private [6] - Exports of high-tech products by private enterprises increased by 12.5%, showcasing their innovation capabilities [6] - Trade with Africa reached 1.18 trillion yuan, growing by 14.4%, while trade with Central Asia increased by 13.8% to 357.2 billion yuan [4]

Economic Performance - The GDP growth rate for the first half of the year was recorded at 5.3%, with Q1 at 5.4% and Q2 at 5.2%[8] - Achieving the annual target growth rate of 5% is deemed feasible, with a projected 4.7% growth rate needed in the second half[8] Policy Direction - The meeting emphasized "enhancing flexibility and foresight" in policy implementation, indicating a proactive approach to potential external shocks[3] - Fiscal policy will focus on accelerating government bond issuance and improving fund utilization efficiency, while monetary policy aims to maintain ample liquidity and reduce overall financing costs[10] Market Stability - The government aims to prevent inflation from rising rapidly, with expectations for the price level to remain moderate and controllable throughout the year[4] - The focus on high-quality investment and structural tools in monetary policy suggests a cautious approach to broad interest rate cuts[12] Risk Management - Key risks include uncertainties surrounding US-China tariffs and the potential for slower export growth in Q3[6] - The meeting highlighted the need for systematic debt risk management, particularly regarding local government debt[15] Consumer and Investment Focus - Policies will prioritize stimulating domestic demand, with an emphasis on service consumption and improving living standards to support sustained consumption[13] - The government aims to invigorate private investment and ensure effective investment in key projects to support economic growth[14]

次会议继续将稳就业、稳企业、稳市场、稳预期作为下一阶段经济工作的着力点，要求"宏观政策要持 续发力、适时加力"。 中共中央政治局7月30日召开会议，分析研究当前经济形势，部署下半年经济工作。 此次会议继续将稳就业、稳企业、稳市场、稳预期作为下一阶段经济工作的着力点，要求"宏观政策要 持续发力、适时加力"，"努力完成全年经济社会发展目标任务，实现'十四五'圆满收官"。 一、确定四中全会议程 此次政治局会议确定了二十届四中全会的时间和议程。 时间是今年10月份，主要议程是中共中央政治局向中央委员会报告工作，研究关于制定国民经济和社会 发展第十五个五年规划的建议。 会议指出，"十五五"时期是基本实现社会主义现代化夯实基础、全面发力的关键时期。"十五五"时期既 是落实三中全会改革举措，推动改革攻坚克难的关键时期，也是实现2035年远景目标、承上启下的关键 五年。 政治局会议为"十五五"确定了两个重要目标，一是"推动事关中国式现代化全局的战略任务取得重大突 破"，二是"确保基本实现社会主义现代化取得决定性进展"。随着政策节奏进入四中全会时段，制定"十 五五"规划也将成为下半年的重点工作之一。 二、形势研判 会议肯定了今 ...

Core Viewpoint - The Hainan Free Trade Port is set to officially commence its closed operation on December 18, 2025, with the provincial commerce department actively promoting various tasks to ensure a smooth transition and enhance the business environment [9][10]. Group 1: Business Development and Policies - The provincial commerce department is focused on implementing the free trade port's closure policies, conducting pressure tests, and promoting investment attraction to ensure high-quality development in the business sector [9][10]. - The processing and value-added domestic sales tax exemption policy has led to over 10 billion yuan in domestic sales value, with 123 pilot enterprises participating [10][11]. - The "old-for-new" consumption policy has driven approximately 236 billion yuan in sales in the first half of the year, significantly boosting consumer spending [12][13]. Group 2: Trade and Investment - The fifth China International Consumer Products Expo showcased 1,767 enterprises and 4,209 brands, indicating a strong recovery and growth in the consumer market [14]. - In 2025, the Global Industry Investment Conference in Hainan signed 265 projects with a total investment of approximately 2,336 billion yuan, reflecting the province's attractiveness to foreign investment [16]. - Hainan's actual use of foreign capital reached 121.68 billion yuan in the first half of the year, a 45.36% increase year-on-year, with 907 new foreign enterprises established [18][19]. Group 3: Economic Growth and Performance - Hainan's total import and export value reached 1,222.38 billion yuan in the first half of the year, with a significant increase in service trade, which grew by 24.7% [18]. - The province's retail sales of consumer goods totaled 1,329.89 billion yuan in the first half of the year, marking an 11.2% year-on-year increase [14]. - The implementation of various policies has effectively stimulated the vitality of Hainan's outward-oriented economy, with a notable increase in both goods and service trade [18][19].

Core Viewpoint - China's foreign trade showed resilience in the first half of the year, with a total import and export value of 21.79 trillion yuan, reflecting a year-on-year growth of 2.9% despite global economic challenges and rising trade protectionism [1] Group 1: Trade Performance - The export of high-end equipment increased by over 20%, and the export of "new three samples" products accelerated [1] - Trade with over 190 countries and regions experienced growth, indicating a broadening of trade partnerships [1] Group 2: Strategic Focus - Emphasis on enhancing hard power through quality supply to boost foreign trade development [1] - Transitioning from price and cost advantages to technological comparative advantages, highlighting the increasing value of "Made in China" [1] - Focus on high-end, intelligent, and green transformation trends in industries to improve the added value and technological content of export products [1] Group 3: Market Expansion - The need to explore new markets while consolidating traditional ones to mitigate risks from market fluctuations [2] - Importance of capturing diverse consumer demands and providing customized products to adapt to changing international market conditions [2] Group 4: Collaborative Networks - Deep integration into global supply chains and sharing development opportunities with other countries through various sectors, such as textiles and agriculture [2] - The establishment of a unified national market in China is expected to provide new opportunities for global trade [2] Group 5: Competitive Advantage - China's comprehensive competitive advantage in foreign trade remains solid, with a focus on maintaining strategic determination and stimulating potential vitality [2] - The steady progress of China's foreign trade is anticipated to inject stronger momentum into the country's economic development and contribute to global trade growth [2]

Core Insights - China's foreign trade has shown remarkable resilience and growth in the first half of the year, achieving record high scales and optimizing its structure despite complex environments such as trade frictions [1] - The number of trading partners with a trade scale exceeding 50 billion and the number of foreign trade enterprises with export performance have both increased, reflecting a spirit of innovation and determination among businesses [1] Group 1: Market Diversification - China's foreign trade is expanding into emerging markets, with significant growth in exports to ASEAN, Central Asia, and Africa, effectively mitigating risks from traditional markets [2] - The Belt and Road Initiative, Regional Comprehensive Economic Partnership (RCEP) members, and BRICS countries are becoming key markets for foreign trade enterprises [2] - Local governments and departments are encouraged to support enterprises in international exhibitions and trade negotiations, while also reducing the costs of going global [2] Group 2: Quality and Innovation - Chinese products are gaining global recognition for their innovation, with a focus on high-quality supply and value-added offerings [3] - Foreign trade enterprises are urged to adapt to international market demands by launching differentiated and customized products with high added value [3] - Brand building is essential for enhancing recognition and pricing power, creating new competitive advantages [3] Group 3: New Business Models - The rise of cross-border e-commerce is facilitating the direct reach of Chinese goods to global consumers, especially in response to tariff impacts [3] - There is a need for supportive policies to develop specialized cross-border e-commerce industrial zones and provide comprehensive services [3] - The global trade landscape is shifting towards digitalization and sustainability, necessitating increased support for new business models such as offshore trade and green trade [3] Group 4: Future Outlook - The positive performance of foreign trade in the first half of the year provides confidence for China to navigate external uncertainties [4] - The focus will be on adapting to new global conditions, fostering new growth drivers, and maintaining steady development in foreign trade [4]

要实现"十四五"圆满收官，做好下半年经济工作至关重要。 中共中央政治局7月30日召开会议，分析研究当前经济形势，部署下半年经济工作。会议明确，着力稳 就业、稳企业、稳市场、稳预期，强调"保持政策连续性稳定性，增强灵活性预见性""努力完成全年经 济社会发展目标任务"，并作出一系列重要部署，释放了多重信号。 ◎本报记者集体采写 看点1 宏观政策 要持续发力、适时加力 宏观政策是经济保持平稳运行的重要推动力。7月30日中央政治局会议提出，宏观政策要持续发力、适 时加力。要落实落细更加积极的财政政策和适度宽松的货币政策，充分释放政策效应。 本次会议重申坚持稳中求进的工作总基调，延续了4月中央政治局会议"加紧实施更加积极有为的宏观政 策"的表述，同时提到"保持政策连续性稳定性，增强灵活性预见性，着力稳就业、稳企业、稳市场、稳 预期"。 粤开证券首席经济学家兼研究院院长罗志恒表示，"适时加力""增强灵活性预见性"意味着：一方面，延 续前期政策，落实既定的财政货币金融政策，做好政策接续，不搞大拐弯，让经营主体有稳定的政策预 期和市场预期，推动经济持续平稳运行；另一方面，也要看到政策的连续性，同时根据形势变化做出灵 活调整， ...

Core Viewpoint - The Central Political Bureau meeting emphasizes the need for sustained macroeconomic policy efforts and timely enhancements to address current economic challenges and ensure stable growth [1][7]. Group 1: Macroeconomic Policy - The meeting calls for a more proactive fiscal policy and moderately loose monetary policy to fully unleash policy effects [1][7]. - There is a focus on accelerating government bond issuance and improving fund utilization efficiency to support economic recovery [1][7]. - The concept of "flexibility and foresight" in macroeconomic policy is introduced, indicating that policies should be stable yet adaptable to changing circumstances [3][4]. Group 2: Economic Growth and Challenges - China's economy achieved a growth rate of 5.3% in the first half of the year, supported by consumption policies and investment from special bonds [4]. - The second quarter growth rate was 5.2%, showing resilience compared to the previous year, where growth rates declined significantly [4]. - However, challenges remain, including potential consumption declines due to high base effects and real estate market instability [5][6]. Group 3: Policy Implementation and Future Directions - The meeting outlines the need for continuous policy efforts and the possibility of further policy enhancements in response to economic conditions [8][9]. - Specific policy tools are suggested, including expanding fiscal spending, timely support for affected industries, and promoting consumption through subsidies [10][11][12]. - The potential establishment of a "real estate stability fund" is proposed to alleviate liquidity pressures on real estate companies [13]. Group 4: Monetary Policy - The meeting reiterates the importance of maintaining ample liquidity and reducing overall financing costs in the economy [14]. - There is an acknowledgment that while monetary policy remains supportive, the primary reliance for economic growth may shift towards fiscal expansion [14].