Economic Overview - China's GDP grew by 5.3% year-on-year in the first half of the year, exceeding initial market expectations and improving by 0.3 percentage points compared to the same period last year [2] - The production and business activity expectation index for July was 52.6%, indicating stable and optimistic market confidence among manufacturing enterprises [2] - The urban unemployment rate averaged 5.2%, a decrease of 0.1 percentage points from the first quarter, with 6.95 million new urban jobs created, achieving 58% of the annual target [2] Domestic Demand and Resilience - Domestic demand contributed 68.8% to economic growth, highlighting its role as the main driver [2] - The total import and export scale reached 20 trillion yuan, with exports increasing by 7.2% [2] - High-tech manufacturing value added grew by 9.5%, outpacing overall industrial growth by 3.1 percentage points [3] Policy and Strategic Focus - The National Development and Reform Commission (NDRC) plans to implement policies to expand domestic demand and promote high-level technological self-reliance [3] - Emphasis on strengthening the domestic circulation to mitigate external shocks and uncertainties [4] - The NDRC aims to enhance the effectiveness of domestic circulation by optimizing supply structures and increasing investment returns [6][7] Market and Investment Environment - The proportion of inter-provincial trade sales to total sales increased to 40.4%, up 0.6 percentage points year-on-year [7] - Logistics costs as a percentage of GDP decreased, saving over 130 billion yuan in logistics expenses [7] - The NDRC is focused on improving the market environment for new industries and enhancing the competitiveness of state-owned enterprises [9][11] Reform Initiatives - The NDRC is set to deepen reforms to stimulate consumption and expand effective investment [9] - Plans to standardize government investment behaviors and address issues of disorderly competition in various sectors [10] - The NDRC will promote policies to facilitate market access for new business models and enhance the flow and allocation of production factors [11]

Core Viewpoint - The Chinese economy showed resilience in the first half of the year, with a GDP growth of 5.3%, exceeding initial market expectations, and demonstrating strong internal demand as the main driver of growth [3][4]. Economic Performance - Major macroeconomic indicators performed well, with GDP growth of 5.3% year-on-year, which is 0.3 percentage points higher than the same period last year [3]. - The production and business activity expectation index for July was 52.6, indicating stable optimism among manufacturing enterprises [3]. - The urban unemployment rate averaged 5.2%, a decrease of 0.1 percentage points from the first quarter, with 6.95 million new urban jobs created, achieving 58% of the annual target [3]. Internal Demand and Trade - Internal demand contributed 68.8% to economic growth, showcasing its role as the main growth driver [3]. - The total import and export volume reached 20 trillion yuan, with exports growing by 7.2% [3]. - The value added of the equipment manufacturing industry increased by 10.2%, indicating its continued importance [3]. New Growth Drivers - High-tech manufacturing value added grew by 9.5%, outpacing overall industrial growth by 3.1 percentage points [4]. - Emerging industries such as artificial intelligence and smart manufacturing are rapidly developing [4]. Policy Measures - The National Development and Reform Commission (NDRC) plans to implement policies to expand domestic demand and promote high-level technological self-reliance [4][10]. - There will be a focus on enhancing economic monitoring and timely policy adjustments to stabilize employment, businesses, and market expectations [4]. Market Integration - The construction of a unified national market is emphasized, with inter-provincial trade sales accounting for 40.4% of total sales, an increase of 0.6 percentage points year-on-year [8]. - The ratio of social logistics costs to GDP has decreased, indicating improved efficiency in logistics [8]. Reform Initiatives - The NDRC aims to deepen reforms to stimulate consumption and investment, including measures to enhance the competitiveness of state-owned enterprises and promote private investment in key sectors [10][11]. - There is a focus on addressing issues of disorderly competition and market disarray through regulatory measures [11][12].

Economic Overview - China's economy showed resilience in the first half of the year, with GDP growth of 5.3%, exceeding initial market expectations and improving by 0.3 percentage points compared to the same period last year [2] - The production and business activity expectation index for July was 52.6, indicating stable optimism among manufacturing enterprises [2] - Urban unemployment rate averaged 5.2%, down by 0.1 percentage points from the first quarter, with 6.95 million new urban jobs created, achieving 58% of the annual target [2] Domestic Demand and Trade - Domestic demand contributed 68.8% to economic growth, while total import and export volume reached 20 trillion yuan, with exports growing by 7.2% [2] - High-tech manufacturing value added increased by 9.5%, outpacing overall industrial growth by 3.1 percentage points [3] Policy Initiatives - The National Development and Reform Commission (NDRC) plans to implement policies to expand domestic demand and promote high-level technological self-reliance [3] - Emphasis on enhancing domestic circulation and addressing bottlenecks to sustain economic recovery [4] Investment and Consumption - Strategies include expanding effective investment and enhancing consumer capacity, with a focus on new growth points in service consumption [5] - The NDRC aims to establish new policy financial tools to encourage private sector participation in major national projects [5] Market Integration and Efficiency - From January to April, inter-provincial trade accounted for 40.4% of total sales, a 0.6 percentage point increase year-on-year [7] - Logistics costs as a percentage of GDP decreased, saving over 130 billion yuan in logistics expenses [7] Reform and Regulation - The NDRC will focus on deepening reforms to stimulate consumption and stabilize the economy, including measures to enhance service consumption and private investment [9] - Plans to standardize government investment behaviors and address issues of disorderly competition in various sectors [10] New Growth Drivers - The NDRC will optimize market access for new industries and promote innovative configurations of production factors to facilitate efficient resource allocation [11]

Economic Performance - Shenzhen's GDP for the first half of 2025 reached 1832.226 billion yuan, with a year-on-year growth of 5.1% [1] - The primary industry added value was 1.033 billion yuan, growing by 2.8%; the secondary industry added value was 650.556 billion yuan, growing by 3.3%; and the tertiary industry added value was 1180.637 billion yuan, growing by 6.1% [1] Industrial Growth - The city's industrial added value above designated size grew by 4.3%, with a slight acceleration of 0.1 percentage points compared to the first quarter [1] - High-tech product output saw significant growth, with civil drones, industrial robots, and 3D printing equipment increasing by 59.0%, 38.0%, and 35.8% respectively [1] Service Sector - The added value of the service industry was 1180.637 billion yuan, with a year-on-year growth of 6.1%, also accelerating by 0.1 percentage points from the first quarter [1] - Key sectors such as finance, transportation, and information technology services grew by 10.9%, 9.0%, and 8.1% respectively [1] Investment Trends - Fixed asset investment in Shenzhen saw infrastructure investment grow by 7.7% and industrial technological transformation investment grow by 47.1% [1] - Investment in information transmission, software, and IT services surged by 47.7%, while transportation and postal services grew by 32.5%, and scientific research and technical services increased by 21.7% [1] Consumer Market - The total retail sales of social consumer goods reached 494.868 billion yuan, with a year-on-year increase of 3.5%, accelerating by 0.4 percentage points from the first quarter [2] - The total import and export volume was 2167.545 billion yuan, with a year-on-year decline of 1.1%, but the decline was narrowed by 1.7 percentage points compared to the first quarter [2] - High-tech product exports grew by 8.0% [2] Financial Sector - As of the end of June, the balance of deposits in financial institutions (including foreign capital) was 14160.014 billion yuan, with a year-on-year growth of 5.7% [2] - The balance of loans in financial institutions (including foreign capital) was 9846.991 billion yuan, with a year-on-year growth of 3.5% [2] Price Trends - The consumer price index in Shenzhen increased by 0.1% compared to the same period last year [3]

Economic Overview - The GDP of Zibo reached 256.89 billion yuan in the first half of the year, with a year-on-year growth of 5.6% and a nominal increase of 18.74 billion yuan, representing a nominal growth rate of 7.87%, which is higher than the provincial average [1] - The primary industry added value was 8.24 billion yuan, growing by 3.7%; the secondary industry added value was 118.49 billion yuan, growing by 5.1%; and the tertiary industry added value was 130.16 billion yuan, growing by 6.2% [1] Agricultural Sector - The total output value of agriculture, forestry, animal husbandry, and fishery reached 14.93 billion yuan, with a year-on-year growth of 4.1%, an increase of 0.6 percentage points compared to the first quarter [1] - The production of vegetables was 978,000 tons, growing by 3%, and the production of melons and fruits was 66,000 tons, growing by 3.3% [1] Industrial Sector - The added value of above-scale industries grew by 7.6% year-on-year, with 29 out of 38 major industries achieving positive growth, resulting in a growth coverage of 76.3% [2] - The top 10 industries by total added value saw "eight increases and two decreases," contributing a total of 6.2 percentage points to the city's growth [2] - High-tech manufacturing added value increased by 8.1%, and the "four strong" industries saw an added value growth of 8.5% [2] Service Sector - From January to May, the above-scale service industry achieved operating income of 23.93 billion yuan, a year-on-year increase of 7.3%, which is 0.3 percentage points higher than the first quarter [2] - Among the ten categories of industries, eight saw growth, with transportation, warehousing, and postal services, information transmission, software and information technology services, and leasing and business services growing by 10.9%, 6.4%, and 6.2% respectively [2] Investment Trends - Fixed asset investment in the first half of the year decreased by 1.3%, while industrial investment increased by 29.7%, with industrial technological transformation investment growing by 20.8% [2] - Private investment grew by 21.0%, accounting for 65.3% of total investment, an increase of 12 percentage points year-on-year [2] Consumer Market - The total retail sales of social consumer goods reached 83.03 billion yuan, with a year-on-year growth of 7.1% [3] - The retail sales of above-limit units reached 29.62 billion yuan, growing by 12.3%, with 15 out of 22 categories showing positive growth, and 9 categories achieving double-digit growth [3] - Notable growth in retail sales included grain and oil, food, tobacco and alcohol, sports and entertainment products, and communication equipment, with increases of 24.1%, 22.1%, 91.8%, and 50.2% respectively [3]

7月30日，深圳市统计局发布2025年上半年深圳经济运行情况。 根据广东省地区生产总值统一核算结果，2025年上半年，深圳市地区生产总值18322.26亿元，按不变价 格计算，同比增长5.1%。其中，第一产业增加值10.33亿元，增长2.8%；第二产业增加值6505.56亿元， 增长3.3%；第三产业增加值11806.37亿元，增长6.1%。 记者丨陈思琦 编辑丨孙超逸 工业生产稳步增长。上半年，深圳市规模以上工业增加值同比增长4.3%，增速比一季度加快0.1个百分 点。分门类看，采矿业增加值同比增长0.5%，制造业增长4.2%，电力、热力、燃气及水生产和供应业 增长11.8%。主要行业大类中，通用设备制造业增长17.1%，仪器仪表制造业增长8.8%，电气机械和器 材制造业增长8.2%。 外贸方面，深圳上半年货物进出口降幅收窄，高新技术产品出口保持增长。具体来看，全市进出口总额 21675.45亿元，同比下降1.1%，降幅比一季度收窄1.7个百分点。其中，出口13086.81亿元，下降7.0%； 进口8588.64亿元，增长9.5%。高新技术产品出口增长8.0%。 6月份，深圳进出口总额达3979.85亿元， ...

Economic Overview - Shenzhen's GDP for the first half of 2025 reached 18322.26 billion yuan, with a year-on-year growth of 5.1% [1] - The primary industry added value was 10.33 billion yuan, growing by 2.8%; the secondary industry added value was 6505.56 billion yuan, growing by 3.3%; and the tertiary industry added value was 11806.37 billion yuan, growing by 6.1% [1] Industrial Production - The industrial added value for large-scale enterprises increased by 4.3% year-on-year, with a 0.1 percentage point acceleration compared to the first quarter [2] - The manufacturing sector grew by 4.2%, while the electricity, heat, gas, and water production and supply sector grew by 11.8% [2] - High-tech product output saw significant growth, with civil drones, industrial robots, and 3D printing equipment increasing by 59.0%, 38.0%, and 35.8% respectively [2] Service Sector - The added value of the service industry was 11806.37 billion yuan, with a year-on-year growth of 6.1%, also accelerating by 0.1 percentage points from the first quarter [3] - Key sectors such as finance, transportation, and information technology services grew by 10.9%, 9.0%, and 8.1% respectively [3] - From January to May, the revenue of large-scale service enterprises increased by 8.4%, with transportation and information services growing by 12.3% and 9.4% respectively [3] Fixed Asset Investment - Fixed asset investment decreased by 10.9% year-on-year, with real estate development investment down by 15.1% [4] - Infrastructure investment grew by 7.7%, while industrial technology renovation investment surged by 47.1% [4] - Investment in information transmission and technology services increased by 47.7% [4] Market Sales - The total retail sales of consumer goods reached 4948.68 billion yuan, with a year-on-year growth of 3.5%, accelerating by 0.4 percentage points from the first quarter [5] - Retail sales of daily necessities and food increased by 10.7% and 9.1% respectively [5] - Online retail sales through the internet grew by 19.4% [5] Trade and Exports - The total import and export volume was 21675.45 billion yuan, a year-on-year decrease of 1.1%, with exports at 13086.81 billion yuan, down by 7.0% [6] - High-tech product exports increased by 8.0% [6] Financial Sector - By the end of June, the total deposits of financial institutions reached 141600.14 billion yuan, growing by 5.7% year-on-year [7] - The total loans from financial institutions amounted to 98469.91 billion yuan, with a year-on-year growth of 3.5% [7]

Economic Performance - Shenzhen's GDP for the first half of the year reached 18,322.26 billion yuan, with a year-on-year growth of 5.1% [1] - The primary industry added value was 10.33 billion yuan, growing by 2.8%; the secondary industry added value was 6,505.56 billion yuan, growing by 3.3%; and the tertiary industry added value was 11,806.37 billion yuan, growing by 6.1% [1] Industrial Growth - The industrial added value above designated size in Shenzhen grew by 4.3% year-on-year, with manufacturing playing a crucial role [1] - Key sectors such as general equipment manufacturing, instrument manufacturing, and electrical machinery manufacturing saw growth rates of 17.1%, 8.8%, and 8.2% respectively [1] - High-tech product output continued to grow rapidly, with civil drones, industrial robots, and 3D printing equipment increasing by 59.0%, 38.0%, and 35.8% respectively [1] Service Sector Development - The added value of the service industry in Shenzhen was 11,806.37 billion yuan, with a year-on-year growth of 6.1% [2] - Key service sectors such as finance, transportation, and information technology services grew by 10.9%, 9.0%, and 8.1% respectively [2] - The Shenzhen Municipal Bureau of Commerce introduced measures to promote high-quality service consumption across six areas, aiming to stimulate internal demand [2] Consumption Trends - The total retail sales of consumer goods in Shenzhen reached 4,948.68 billion yuan, growing by 3.5% year-on-year [2] - Retail sales of daily necessities and food products showed strong growth, with increases of 10.7% and 9.1% respectively [2] - Online retail sales through designated units grew by 19.4%, indicating a shift towards e-commerce [2] Investment and Trade - Fixed asset investment in Shenzhen decreased by 10.9%, with real estate development investment down by 15.1% [3] - Infrastructure investment grew by 7.7%, while industrial technology transformation investment surged by 47.1% [3] - The total import and export volume was 21,675.45 billion yuan, a year-on-year decrease of 1.1%, with exports down by 7.0% and imports up by 9.5% [3] Future Outlook - The overall economic performance in Shenzhen remains stable, with a focus on high-quality development despite external uncertainties [3] - Analysts suggest leveraging Shenzhen's technological advantages to promote high-tech industries and enhance domestic demand [3]

根据广东省地区生产总值统一核算结果，2025年上半年，深圳市地区生产总值18322.26亿元，按不变价 格计算，同比增长5.1%，增速低于全国0.2个百分点。其中，第一产业增加值10.33亿元，增长2.8%；第 二产业增加值6505.56亿元，增长3.3%；第三产业增加值11806.37亿元，增长6.1%。 具体来看，上半年，深圳全市规模以上工业增加值同比增长4.3%，增速虽然低于全国2.1个百分点，但 比一季度加快0.1个百分点。分门类看，采矿业增加值同比增长0.5%，制造业增长4.2%，电力、热力、 燃气及水生产和供应业增长11.8%。 主要行业大类中，通用设备制造业增长17.1%，仪器仪表制造业增长8.8%，电气机械和器材制造业增长 8.2%。高技术产品产量持续快速增长，其中，民用无人机、工业机器人、3D打印设备产品产量分别增 长59.0%、38.0%、35.8%。 支持深圳经济向好判断的重要依据还有：上半年人流、物流、资金流均强劲增长 上半年，深圳市服务业增加值11806.37亿元，同比增长6.1%，增速高于全国0.5个百分点，比一季度加 快0.1个百分点。其中，金融业，交通运输、仓储和邮政业，信息传 ...

Economic Overview - Shenzhen's GDP for the first half of 2025 reached 1832.226 billion yuan, with a year-on-year growth of 5.1% at constant prices [2] - The primary industry added value was 1.033 billion yuan, growing by 2.8%; the secondary industry added value was 650.556 billion yuan, growing by 3.3%; and the tertiary industry added value was 1180.637 billion yuan, growing by 6.1% [2] Industrial Production - The city's service industry added value was 1180.637 billion yuan, with a year-on-year growth of 6.1%, accelerating by 0.1 percentage points compared to the first quarter [3][4] - Key sectors such as finance, transportation, storage and postal services, and information transmission, software, and IT services grew by 10.9%, 9.0%, and 8.1% respectively [3][4] - From January to May, revenue from large-scale service enterprises increased by 8.4%, with notable growth in transportation, storage, and postal services at 12.3% [3][4] Fixed Asset Investment - Fixed asset investment in the city decreased by 10.9% year-on-year, with real estate development investment down by 15.1% [5] - Infrastructure investment grew by 7.7%, while industrial technology transformation investment surged by 47.1% [5] - Investment in information transmission, software, and IT services increased by 47.7% [6] Market Sales - The total retail sales of consumer goods reached 494.868 billion yuan, with a year-on-year growth of 3.5%, accelerating by 0.4 percentage points compared to the first quarter [7] - Retail sales of essential goods showed strong growth, with daily necessities and grain and oil products increasing by 10.7% and 9.1% respectively [7] - Online retail continued to grow, with sales through the internet increasing by 19.4% [7] Trade Performance - The total import and export volume was 2167.545 billion yuan, down by 1.1% year-on-year, but the decline was narrower by 1.7 percentage points compared to the first quarter [8] - Exports amounted to 1308.681 billion yuan, decreasing by 7.0%, while imports rose by 9.5% to 858.864 billion yuan [8] - High-tech product exports grew by 8.0% [8] Financial Sector - By the end of June, the balance of deposits in financial institutions (including foreign capital) was 14160.014 billion yuan, growing by 5.7% year-on-year [9] - The balance of loans in financial institutions (including foreign capital) was 9846.991 billion yuan, with a year-on-year growth of 3.5% [9] Consumer Prices - The consumer price index increased by 0.1% year-on-year, with food and tobacco prices rising by 0.5% and clothing prices by 1.3% [10] - Prices for transportation and communication decreased by 2.4%, while medical care prices rose by 1.2% [10]