新华社北京7月28日电（记者刘开雄、申铖）国家税务总局在28日国新办举行的"高质量完成'十四五'规 划"系列主题新闻发布会上披露，"十四五"期间，我国累计新增减税降费预计超过10万亿元。 "2021年至今年上半年，全国累计新增减税降费9.9万亿元，预计到今年底将达10.5万亿元，年均新增减 税降费超2万亿元。"国家税务总局副局长蔡自力说。 在国家税费优惠及其他政策的有力推动下，高质量发展取得了积极成效。 税收发票数据显示，2021年至2024年，制造业企业销售收入占全部企业的比重保持在29%左右。特别是 制造业"高端化、智能化"稳步推进，装备制造业、高技术制造业销售收入年均分别增长9.6%和10.4%。 研发费用加计扣除是促进科技创新的重要税收支持政策。"十四五"期间，我国研发费用加计扣除政策不 断优化、力度不断加大，其中2024年度企业享受研发费用加计扣除3.32万亿元、享受户数61.5万户，较 2021年度分别增长25.5%和16.7%。 "税务部门始终坚持落实税费优惠政策实打实，依托税收大数据精准开展'政策找人'，在政策直达快享 中增强了广大纳税人缴费人的获得感。"蔡自力说。（完） 蔡自力介绍，从政策导 ...

Core Insights - Hainan's GDP for the first half of 2025 reached 370.185 billion yuan, showing a year-on-year growth of 4.2% [1] - The national GDP for the same period was 66,053.6 billion yuan, with a growth rate of 5.3% [2] - 20 provinces reported GDP growth rates exceeding the national average, with Tibet leading at 7.2% [2] - Economic performance across provinces indicates a trend of exceeding initial annual growth targets, driven by high-tech manufacturing and consumption policies [2][3] Economic Performance - Guangdong topped the GDP rankings with 68,725.4 billion yuan, followed by Jiangsu, both exceeding 60,000 billion yuan [3] - Six provinces reported GDP exceeding 30,000 billion yuan, indicating strong economic performance [3] - The central region, particularly provinces like Hubei and Sichuan, showed higher growth rates compared to eastern provinces, reflecting a shift in economic dynamics [4] Future Economic Strategies - There is an emphasis on boosting domestic demand through investment and consumption initiatives in the second half of the year [4][5] - Investment strategies will focus on infrastructure projects and public investment to stimulate economic growth [5] - Consumption policies will include measures like "old-for-new" programs to enhance consumer demand [5] - The need for regional economic coordination and the transfer of industries from eastern to central and western regions is highlighted [4][5]

Core Viewpoint - In June, China's industrial enterprises showed signs of profit recovery, particularly in new momentum industries like equipment manufacturing, signaling a positive trend in the real economy [1][2]. Group 1: Profit and Revenue Trends - In June, the total profit of large-scale industrial enterprises in China reached 715.58 billion yuan, a year-on-year decrease of 4.3%, but the decline narrowed significantly by 4.8 percentage points compared to May [1]. - The revenue of large-scale industrial enterprises grew by 1.0% year-on-year in June, maintaining the same growth rate as in May [1]. - For the first half of the year, revenue increased by 2.5% year-on-year, while profits decreased by 1.8%, indicating a widening decline compared to the first five months but a narrowing decline compared to the end of 2024 [1]. Group 2: Factors Influencing Profitability - The overall decline in profits for large-scale industrial enterprises has been attributed to external environmental shocks, ongoing elimination of outdated capacity, low Producer Price Index (PPI), and insufficient domestic demand [2]. - The average accounts receivable collection period for large-scale industrial enterprises was 69.8 days at the end of June, a decrease of 0.7 days from the end of May, indicating improved cash flow [2]. Group 3: Policy Impact and Sector Performance - The implementation of the "Regulations on Payment of Funds to Small and Medium-sized Enterprises" since June 1 has improved overall collection efficiency for industrial enterprises, particularly benefiting private enterprises [3]. - In June, the profit growth rate for large-scale manufacturing enterprises shifted from a decline of 4.1% in May to an increase of 1.4%, driven by policies supporting equipment manufacturing and high-tech industries [3]. - Profits in the equipment manufacturing sector increased by 9.6% year-on-year in June, contributing significantly to the overall profit growth of large-scale industrial enterprises [3]. Group 4: Industry Trends and Future Outlook - The manufacturing sector is advancing towards high-end, intelligent, and green production, with significant profit increases in high-end equipment manufacturing and green manufacturing sectors [4]. - The profit growth rates for specific industries, such as electronic materials and lithium-ion battery manufacturing, reached 68.1% and 72.8% respectively in June [4]. - Looking ahead, the recovery of industrial enterprise profits is expected to continue, supported by domestic demand expansion and regulatory policies aimed at stabilizing market competition [5].

Group 1: Industrial Profit Trends - In the first half of 2025, the total profit of industrial enterprises reached CNY 34,365.0 billion, a year-on-year decrease of 1.8%[2] - The profit growth rate slowed down, with June showing a 4.3% year-on-year decline, narrowing the drop by 4.8 percentage points compared to May[2] - The revenue profit margin for industrial enterprises was 5.15%, which is 0.22 percentage points lower than the same period last year[2] Group 2: Price and Demand Dynamics - The Producer Price Index (PPI) for June 2025 decreased by 3.6% year-on-year and 0.4% month-on-month, significantly impacting profit growth[2] - Effective demand remains insufficient, and industrial product prices are low, which continues to drag on profit recovery[3] - The industrial capacity utilization rate in Q2 2025 was 74.0%, slightly down by 0.1 percentage points from Q1, indicating a low position that hinders cost reduction[2] Group 3: Policy Impact and Sector Performance - The "Two New" policies are showing continued support for profit recovery, particularly benefiting the equipment manufacturing sector[3] - In June, the equipment manufacturing sector's revenue grew by 7.0% year-on-year, with profits increasing by 9.6%, contributing 3.8 percentage points to overall industrial profit growth[4] - High-end equipment manufacturing sectors, such as electronic materials and aircraft manufacturing, saw profit increases of 68.1% and 19.0% respectively[4] Group 4: Inventory and Market Conditions - As of June 2025, the inventory of finished products for industrial enterprises increased by 3.1% year-on-year, reflecting a flattening inventory cycle[9] - The current inventory-to-sales ratio remains high, indicating a willingness among enterprises to reduce inventory despite ongoing pressures[9] - The MPI industrial inventory forward index suggests that the inventory cycle will continue to exhibit a flattening characteristic throughout 2025[9]

Fiscal Performance - In the first half of the year, the national general public budget revenue was 115,566 billion yuan, a year-on-year decrease of 0.3%, with the decline narrowing by 0.8 percentage points compared to the first quarter [1] - Overall, the fiscal operation in China shows a stable trend despite a complex international environment [1] Economic Policies - The government is implementing more proactive macro policies to expand domestic demand and stabilize the market, ensuring overall economic stability in the first half of the year [1] - Structural support will be increased in the second half of the year to safeguard high-quality development, with a significant acceleration in the issuance of special bonds [2] Investment and Consumption - Manufacturing investment structure is continuously upgrading, with high-tech manufacturing showing strong growth, providing robust support for sustainable economic development [3] - Policies to promote consumption have been implemented, including expanding the scope of trade-in for consumer goods and increasing support for service consumption [3] Emerging Industries - The development of new productive forces is accelerating the high-quality development of key industries, with AI technology playing a crucial role in various sectors [4] - The semiconductor industry is expected to maintain an upward trend due to the growing demand for chips driven by AI applications [4] Real Estate Market - The government is intensifying efforts to stabilize the real estate market, optimizing supply structure and promoting long-term stable development [4] - More special bond funds are expected to be allocated to urban renewal projects, improving living conditions for residents [4] Market Competition - Measures will be taken to curb "involution" competition and optimize industrial layout, maintaining fair competition and eliminating backward production capacity [5][6] - Strengthening market supervision is essential to maintain market order and eliminate low-quality, low-price market phenomena [6]

Core Insights - Jinan's industrial production showed stable and rapid growth in the first half of 2025, with a year-on-year increase of 8.2% in industrial added value, outperforming national and provincial averages by 1.8 and 0.5 percentage points respectively [1] - The manufacturing sector in Jinan also experienced steady growth, with a 9.0% increase in added value, contributing significantly to the overall industrial growth [1] Group 1: Manufacturing Sector Performance - The added value of Jinan's manufacturing industry grew by 9.0% year-on-year, exceeding the overall industrial growth by 0.8 percentage points, and contributing 7.4 percentage points to the city's industrial growth [1] - Key industries such as computer communication and other electronic equipment manufacturing, as well as automobile manufacturing, saw substantial increases of 80.7% and 33.1% respectively, together contributing 9.9 percentage points to the overall industrial growth [1] - Conversely, the black metal smelting and rolling processing industry experienced a decline of 13.2% [1] Group 2: Key Sector Growth - The equipment manufacturing sector recorded a remarkable 24.8% increase in added value, significantly higher than the overall industrial and manufacturing growth rates by 16.6 and 15.8 percentage points respectively, contributing 11.0 percentage points to the overall industrial growth [3] - High-tech manufacturing also showed strong performance with a 25.0% increase in added value, surpassing the overall industrial growth rate by 16.8 percentage points and contributing 4.8 percentage points to the overall industrial growth [3] Group 3: Production and Sales Coordination - Jinan's industrial products maintained stable supply, with significant increases in production for key products such as new energy vehicles, which saw a doubling in output, and server production, which grew by 11.5% [3] - The production of generator sets increased by 42.7%, while crude steel and steel product outputs declined by 10.2% and 14.1% respectively [3] - The industrial sales rate in Jinan reached 98.8%, exceeding the provincial average by 4.4 percentage points, and showing improvements compared to both the previous quarter and the same period last year [3]

Economic Overview - Guangdong province has released economic performance reports for the first half of 2025, with nine cities reporting growth rates exceeding 5% [2][3] - The overall economic growth rate for Guangdong province is 4.2% [6] City Performance - Meizhou's GDP reached 72.059 billion yuan, with an actual growth rate of 5.7%, surpassing the initial target of 5% [4] - Zhaoqing, Huizhou, and Chaozhou also reported growth rates above 5%, with Zhaoqing at 5.2% and the other three cities at 5.1% [5] - Dongguan and Qingyuan both recorded growth rates of 4.8%, exceeding the provincial average [6] - Yangjiang and Jieyang had lower growth rates of 3.5% and 3.4%, respectively [7] Sector Contributions - In Meizhou, the primary industry added value was 10.124 billion yuan (3.0% growth), the secondary industry 22.612 billion yuan (7.5% growth), and the tertiary industry 39.323 billion yuan (5.6% growth), indicating strong contributions from the secondary and tertiary sectors [10][11] - Advanced manufacturing in Meizhou saw an 8.4% increase in industrial output, with high-tech manufacturing growing by 21.7% [13][14] - Zhaoqing's primary industry added value was 17.534 billion yuan (4.8% growth), secondary industry 53.638 billion yuan (4.9% growth), and tertiary industry 64.629 billion yuan (5.6% growth), showing robust performance across all sectors [20][21] Industrial Growth - Huizhou's GDP was 291.006 billion yuan with a growth rate of 5.1%, driven by a 7.7% increase in the secondary industry [32] - Dongguan's GDP reached 606.784 billion yuan with a growth rate of 4.8%, supported by a 5.3% increase in the secondary industry [36] - Qingyuan's GDP was 106.855 billion yuan with a growth rate of 4.8%, with the secondary industry growing by 5.4% [40] Investment and Projects - In Zhanjiang, the GDP was 181.126 billion yuan with a growth rate of 5.1%, and the city has successfully attracted high-quality projects, with industrial output increasing by 129.9% [44][48] - The new projects in Zhanjiang totaled 3.29 billion yuan in investment [48] Challenges - Jieyang's GDP growth was 3.4%, lower than the previous year's 3.9%, with the secondary industry growing by only 3.6% [50][52] - Yangjiang's GDP growth remained at 3.5%, with the secondary industry increasing by 2.3% [54][56]

Core Viewpoint - The People's Bank of China Shandong Branch is actively promoting the issuance of technology innovation bonds to support the financing needs of technology enterprises and enhance the province's financial ecosystem for innovation [1][4]. Group 1: Technology Innovation Bonds - As of now, 17 enterprises and institutions have successfully issued technology innovation bonds totaling 22.7 billion yuan in the interbank market, positioning Shandong among the top provinces in terms of issuance scale [1][5]. - The technology innovation bonds cover a wide range of issuers, including state-owned enterprises, private enterprises, equity investment institutions, and financial institutions, thereby supporting various sectors such as electronic information, new energy, new materials, high-end chemicals, and biomedicine [5][6]. - The bonds feature long maturities and low interest rates, with some institutions issuing bonds with terms of 5 to 10 years and a minimum issuance interest rate of 1.63%, while the weighted average interest rate is only 2% [5][6]. Group 2: Innovative Measures and Support - The issuance of technology innovation bonds includes several innovative aspects, such as flexible issuance methods, diverse funding uses, and rich credit enhancement measures to better match the financing needs of technology enterprises [4][6]. - The People's Bank has established risk-sharing tools for technology innovation bonds to support private enterprises and equity investment institutions, aiming to reduce issuance costs and improve success rates [4][6]. - Future efforts will focus on enhancing the promotion of technology innovation bonds, exploring better mechanisms for central-local credit enhancement, and striving for more entities to issue these bonds to optimize the innovation ecosystem in Shandong [6].

"这是在二季度以来国际形势急剧变化、外部压力明显加大的情况下取得的成绩，是一份含金量非常高 的成绩单，充分展示了中国经济的抗压能力和强大韧性，为完成全年目标打下了较好基础。"7月15日， 在国务院新闻办公室举行的新闻发布会上，国家统计局副局长盛来运表示，上半年，我国经济顶住压 力、稳定增长，保持稳中有进、稳中向好的发展态势。 盛来运介绍，上半年，我国国民经济迎难而上、稳中向好，为完成全年目标打下了较好基础。同时，我 国多年来高质量发展大势和实践凝聚了共识、积累了新动能、推进了经济再平衡，提高了经济可持续发 展能力。我国宏观政策协同发力，将为经济稳定运行保驾护航。下半年，尽管存在外部环境的不确定性 和内部结构调整压力较大，但我国经济保持稳定增长仍有支撑，将继续保持稳中有进、稳中向好的发展 态势。 当日，中新社"国是直通车"同步举行2025年中经济形势分析会，多位经济学家围绕最新数据从宏观、消 费、外贸、金融等多个领域进行了解读。 "稳"增长有支撑 "进"步伐更坚定 盛来运表示，2025年以来，国际环境复杂多变、国际经贸秩序遭受重创，不稳定性、不确定性增加，面 对复杂局面，各地区各部门坚持统筹国内经济工作和国际经 ...

Economic Overview - Zhejiang's GDP for the first half of 2023 reached 45,004 billion yuan, with a year-on-year growth of 5.8% [1] - The primary industry added value was 1,131 billion yuan, growing by 3.5%; the secondary industry added value was 16,952 billion yuan, increasing by 5.6%; the tertiary industry added value was 26,921 billion yuan, with a growth of 6% [1] Industrial Performance - Among 37 industrial sectors, 31 sectors experienced growth, resulting in an overall growth rate of 83.8% [2] - High-tech manufacturing, core digital economy manufacturing, and equipment manufacturing saw added value growth of 12.7%, 12%, and 11.1% respectively [2] - Production of high-value-added products such as industrial robots, lithium-ion batteries, laptops, and new energy vehicles increased by 85.7%, 65.2%, 47.3%, and 43.3% respectively [2] Service Sector and Consumption - The service sector's added value grew by 6%, with the information transmission, software, and IT services sector showing a strong growth of 9.3% [2] - Retail sales of consumer goods reached 18,979 billion yuan, marking a year-on-year increase of 5.3%, with significant growth in various categories such as home appliances and new energy vehicles [2] Investment and Employment - Fixed asset investment in Zhejiang increased by 1.4%, with notable growth in infrastructure and high-tech industries [3] - The average urban unemployment rate was 4.7%, with 588,000 new urban jobs created [3] - Per capita disposable income for residents was 37,813 yuan, reflecting a nominal growth of 5.1% year-on-year [3]