Economic Overview - In the first half of 2025, Jilin Province's GDP reached 682.33 billion yuan, with a year-on-year growth of 5.7%, an increase of 0.2 percentage points compared to the first quarter [1] - The industrial sector showed steady progress, with the added value of above-scale industries growing by 7.8%, surpassing the national average by 1.4 percentage points [1] Agricultural Sector - The agricultural, forestry, animal husbandry, and fishery sectors saw an overall growth, with an added value of 37.48 billion yuan, reflecting a year-on-year increase of 4.3%, which is 0.4 percentage points higher than the national average [1] - Specific growth rates for major agricultural products included 7.0% for crops, 10.2% for forestry, 3.6% for animal husbandry, and 9.6% for fisheries [1] Industrial Sector - The equipment manufacturing industry experienced a significant increase, with an added value growth of 19.5%, accounting for 10.9% of the province's above-scale industrial output [2] - Key industries such as information technology, pharmaceuticals, and electricity production achieved double-digit growth rates of 21.5%, 16.8%, and 10.3% respectively [1] Service Sector - The service sector's added value grew by 5.6%, contributing 63.8% to the province's GDP, with a contribution rate increase of 11.3 percentage points compared to the first quarter [2] - The information transmission, software, and IT services sectors saw a growth of 7.2%, while scientific research and technical services grew by 13.0% [2] Investment and Consumption - Fixed asset investment (excluding rural households) increased by 1.0%, with the second industry investment rising by 8.8% and the third industry by 1.9% [3] - The total retail sales of consumer goods reached 211.72 billion yuan, marking a year-on-year growth of 4.8%, with significant increases in furniture and home appliances retail sales [3]

Economic Overview - The GDP of Ziyang City for the first half of 2025 reached 53.01 billion yuan, reflecting a year-on-year growth of 7% [1] - The primary industry added value was 7.16 billion yuan, growing by 3.0%; the secondary industry added value was 16.31 billion yuan, increasing by 11.6%; and the tertiary industry added value was 29.54 billion yuan, rising by 5.7% [1] Agricultural Sector - The total output value of agriculture, forestry, animal husbandry, and fishery in Ziyang City was 13.14 billion yuan, with a year-on-year growth of 3.0% [1] - The production of pork, beef, and mutton increased by 2.5% and 5.1% respectively, with a total meat output of 123,000 tons, growing by 0.7% [1] - Aquatic product output reached 46,000 tons, marking a growth of 6.4% [1] Investment and Industrial Growth - Fixed asset investment in Ziyang City grew by 8.7% year-on-year [1] - The added value of industrial enterprises above designated size increased by 15.8% [1] - Key industries showed significant growth: equipment manufacturing grew by 21.6%, clean energy by 31.8%, electronic information by 39.3%, and food and light textile industries by 4.4% [1] - Among 31 major industry categories, 23 experienced positive growth, with 18 achieving double-digit growth [1] Service Sector Performance - The added value of the service industry increased by 5.7% year-on-year [2] - Notable growth in sectors included leasing and business services at 11.0%, information transmission, software, and IT services at 10.5%, and accommodation and catering at 7.2% [2] Consumer Market Trends - The total retail sales of social consumer goods reached 21.43 billion yuan, with a year-on-year growth of 4.4% [2] - Retail sales of gold, silver, and jewelry increased by 22.5%, while home appliances and audio-visual equipment grew by 23.8% [2]

Group 1: Economic Growth of the Service Sector - The service sector maintained a rapid growth rate, with a value added of 39,031.4 billion yuan in the first half of the year, representing a year-on-year increase of 5.5% [2] - The contribution rate of the service sector to national economic growth was 60.2%, an increase of 5.8 percentage points compared to the same period last year [2] - In the second quarter, the service sector's value added accelerated to 195,172 billion yuan, with a year-on-year growth of 5.7% [2] Group 2: High-Quality Development and New Momentum - Modern service industries, such as information technology and business services, showed strong growth, with value added increasing by 11.1% and 9.6% respectively in the first half of the year [3] - The combined value added of these sectors contributed 1.7 percentage points to the overall growth of the service sector [3] - High-tech service industries saw significant investment growth, with fixed asset investment in high-tech services increasing by 8.6% year-on-year [4] Group 3: Service Consumption Trends - Service consumption showed steady improvement, with service retail sales growing by 5.3% year-on-year, outpacing the growth of goods retail sales [5] - Online retail sales increased by 8.5% year-on-year, indicating a positive trend in new business models such as instant retail and live e-commerce [5] - Cultural and tourism services also experienced significant growth, with transaction volumes increasing by 31.9% and 7.4% respectively [5] Group 4: International Trade and Investment in Services - The total import and export value of service trade reached 32,543.6 billion yuan, a year-on-year increase of 7.7% [6] - The actual use of foreign capital in the service sector was 259.64 billion yuan, accounting for over 70% of total foreign capital utilization [6] - The e-commerce service industry saw a remarkable increase in foreign investment, growing by 146% year-on-year [6] Group 5: Market Sentiment and Future Outlook - The business activity index for the service sector remained above the critical point, averaging 50.2, indicating expansion [8] - The business activity expectation index averaged 56.7, reflecting a positive market sentiment [8] - The service sector is expected to continue its upward trend, but external uncertainties remain, necessitating further policy support to strengthen domestic circulation and enhance service quality [8]

Economic Overview - In the first half of the year, China's GDP reached 66,053.6 billion yuan, with a year-on-year growth of 5.3% [2] - The contribution rates of the three industries to economic growth were 3.6% for the primary industry, 36.2% for the secondary industry, and 60.2% for the tertiary industry [2] Industry Performance - The industrial production showed a robust growth with an industrial added value increase of 6.2% year-on-year, contributing 1.9 percentage points to economic growth [3][4] - The manufacturing sector's added value grew by 6.6%, contributing 1.7 percentage points to economic growth [3] - The service sector, particularly information transmission, software, and IT services, saw significant growth with added values increasing by 11.1% and 9.6% respectively, contributing a total of 1.0 percentage point to economic growth [3] Domestic Demand - Final consumption expenditure contributed 52.0% to economic growth in the first half, driving GDP growth by 2.8 percentage points [5] - Investment demand showed a steady increase, with total capital formation contributing 16.8% to economic growth, adding 0.9 percentage points to GDP [5] - Net exports maintained a stable growth trend, contributing 31.2% to economic growth, which added 1.7 percentage points to GDP [5] New Economic Drivers - The digital economy is gaining momentum, with the revenue of large-scale information transmission, software, and IT service enterprises growing by 11.4% from January to May, outperforming the overall service sector by 3.3 percentage points [6] - The equipment manufacturing and high-tech manufacturing sectors saw added value growth of 10.2% and 9.5% respectively, exceeding the overall industrial growth rates [7] - High-quality investments in equipment manufacturing and high-tech services increased by 7.5% and 8.6% respectively, indicating a focus on optimizing and upgrading industries [7]

Economic Overview - The national economy demonstrated resilience in the first half of the year, with GDP reaching 66,053.6 billion yuan, a year-on-year growth of 5.3% [1] - The contribution of final consumption expenditure to economic growth was 52.0% in the first half and 52.3% in the second quarter [3] - Fixed asset investment (excluding rural households) was 248,654 billion yuan, with a year-on-year growth of 2.8% [19] Industry Performance - The industrial production maintained a rapid growth rate, with the industrial added value increasing by 6.4% year-on-year in the first half [9] - The manufacturing sector saw a 7.0% increase in added value, while high-tech manufacturing grew by 9.5% [11] - The equipment manufacturing industry increased by 10.2%, with significant growth in mid-to-high-end equipment products [11] Agricultural Sector - Summer grain production was stable, with a total output of 2,994.8 billion jin, a slight decrease of 0.1% year-on-year [6] - Livestock production remained stable, with a total meat output of 48.43 million tons, a year-on-year increase of 2.8% [7] Service Sector - The service sector's added value reached 390,314 billion yuan, growing by 5.5% year-on-year, accounting for 59.1% of GDP [1][17] - The information transmission, software, and IT services sectors grew by 11.1%, while leasing and business services increased by 9.6% [17] Consumer Market - The total retail sales of consumer goods reached 245,458 billion yuan, with a year-on-year growth of 5.0% [24] - Online retail sales increased by 8.5%, with physical goods online retail growing by 6.0% [27] Investment Trends - Equipment and tool purchase investment grew by 17.3%, significantly higher than the overall investment growth [20] - Infrastructure investment increased by 4.6%, contributing positively to overall investment growth [20] Labor Market - The urban survey unemployment rate averaged 5.0%, showing a decrease of 0.3 percentage points from the previous quarter [28] - Employment among key demographic groups, such as local residents and migrant workers, remained stable [29][30] Income and Consumption - The per capita disposable income reached 21,840 yuan, with a nominal growth of 5.3% [32] - Per capita consumption expenditure was 14,309 yuan, growing by 5.2% year-on-year [34] Price Trends - The Consumer Price Index (CPI) decreased by 0.1% year-on-year, while the core CPI rose by 0.4% [36] - The Producer Price Index (PPI) fell by 2.8%, with significant variations across different sectors [38]

Group 1 - The service industry has shown rapid growth in the first half of the year, with a service value added of 390,314 billion yuan, representing a year-on-year increase of 5.5% [1] - The proportion of service value added in GDP reached 59.1%, an increase of 0.7 percentage points compared to the same period last year [1] - In the second quarter, the service industry value added accelerated to 195,172 billion yuan, with a year-on-year growth of 5.7%, up by 0.4 percentage points from the first quarter [1] Group 2 - The modern service industry has performed well, with information transmission, software, and IT services growing by 11.1% year-on-year, and leasing and business services by 9.6% [2] - High-tech service industries have seen significant revenue growth, with high-tech service enterprises' revenue increasing by 9.9% and strategic emerging service industries by 9.5% from January to May [2] - The fixed asset investment in high-tech services grew by 8.6% year-on-year in the first half of the year [2] Group 3 - Service consumption has shown steady improvement, with service retail sales increasing by 5.3% year-on-year and per capita service consumption expenditure rising by 4.9% [2] - Online retail sales grew by 8.5% year-on-year, while tourism and cultural services saw significant increases, with tourism services up by 31.9% and cultural sports services by 7.4% [2] Group 4 - The service industry has maintained a positive outlook, with the business activity index averaging 50.2, indicating expansion [4] - The business activity expectation index averaged 56.7, remaining in a high prosperity range throughout the first half of the year [4]

Economic Overview - In the first half of the year, China's GDP reached 66,053.6 billion yuan, with a year-on-year growth of 5.3% [2] - The GDP for the second quarter was 34,177.8 billion yuan, showing a year-on-year growth of 5.2% [2] Industry Performance - The primary industry added value was 31.17 billion yuan, growing by 3.7%; the secondary industry added value was 239.05 billion yuan, growing by 5.3%; and the tertiary industry added value was 390.31 billion yuan, growing by 5.5% [2] - Industrial production increased by 6.2% year-on-year, with manufacturing growing by 6.6% [4] - The information transmission, software, and IT services sectors saw an increase of 11.1%, while leasing and business services grew by 9.6% [4] Domestic Demand and Consumption - Final consumption expenditure contributed 52.0% to economic growth in the first half, with a contribution of 52.3% in the second quarter [5] - Capital formation contributed 16.8% to economic growth in the first half, with a contribution of 24.7% in the second quarter [5] - Net exports contributed 31.2% to economic growth in the first half, with a contribution of 23.0% in the second quarter [5] New Economic Drivers - The information transmission, software, and IT services sector saw a revenue growth of 11.4% from January to May [6] - The added value of equipment manufacturing and high-tech manufacturing increased by 10.2% and 9.5% respectively in the first half [6] - Investment in equipment manufacturing grew by 7.5%, while high-tech service industry investment increased by 8.6% [6]

Core Insights - Shenzhen's total electricity consumption from January to June 2025 reached 56.93 billion kWh, marking a year-on-year increase of 4.8% [1] - The electricity consumption in the secondary industry was 26.99 billion kWh, up 2.5% year-on-year, while the tertiary industry consumed 20.95 billion kWh, reflecting a growth of 6.8% [1] - Residential electricity usage was 8.96 billion kWh, showing a significant increase of 7.6% year-on-year [1] Industry Performance - Industrial electricity consumption in Shenzhen totaled 26.01 billion kWh, with a year-on-year growth of 3.0%, indicating steady industrial development and ongoing transformation [1] - The manufacturing sector accounted for 21.09 billion kWh of electricity consumption, also growing by 3.0% year-on-year [1] - Notable growth in specific manufacturing sectors included automotive manufacturing (24.5%), computer, communication, and other electronic equipment manufacturing (11.4%), instrument manufacturing (8.1%), and pharmaceutical manufacturing (6.6%) [1] Tertiary Sector Dynamics - The service sector exhibited robust performance, with the top three sub-industries in electricity consumption growth being wholesale and retail (19.8%), information transmission, software, and IT services (19.8%), and leasing and business services (9.4%) [1] - The electricity consumption in the information transmission, software, and IT services sector reflects the vitality of the digital economy [1] Data Center and AI Development - Shenzhen is accelerating its development as a leading city in artificial intelligence, with data center electricity consumption growing rapidly [2] - The electricity demand from internet and related services surged by 38.2% year-on-year, with internet data services alone increasing by 42.8% [2] - The Shenzhen Power Supply Bureau is actively engaging with customers for energy-saving renovations and enhancing the green electricity share for data centers [2]

Economic Overview - In the first half of the year, China's GDP reached 66,053.6 billion yuan, with a year-on-year growth of 5.3% [1] - The primary industry added value was 31,172 billion yuan, growing by 3.7%; the secondary industry added value was 239,050 billion yuan, growing by 5.3%; and the tertiary industry added value was 390,314 billion yuan, growing by 5.5% [1] Investment Trends - National fixed asset investment (excluding rural households) totaled 248,654 billion yuan, with a year-on-year growth of 2.8% [3] - Investment in the eastern region decreased by 0.8%, while the central region grew by 3.2% and the western region grew by 4.8% [3] Policy Effects and Structural Adjustments - The current investment trends reflect both short-term policy effects and long-term structural adjustments, with significant support for the central and western regions through policies like "Western Development" and "Central Region Acceleration" [4] - Major projects in the central and western regions, such as the Chengdu-Chongqing Economic Circle, are contributing to increased investment [4] Long-term Trends - There is a long-term trend of industrial transfer from east to west, particularly for labor-intensive and resource-processing industries [5] - The central and western regions are experiencing urbanization and market expansion, attracting more investment, while the northeast faces challenges such as population outflow and traditional industry decline [5] Industrial Investment Dynamics - In the industrial sector, investment in equipment manufacturing grew by 10.2%, and high-tech manufacturing grew by 9.5%, both outpacing overall industrial growth [6] - The service sector saw significant growth, with information transmission, software, and IT services growing by 11.1% [6] Policy Recommendations - To support the transition from traditional to new economic drivers, there is a need for increased government support for basic research and digital transformation of traditional industries [6] - The focus should be on expanding market applications for strategic emerging industries and enhancing government procurement for new energy equipment [7] Regional Development Strategies - It is essential to guide the central and western regions to undertake high-value-added segments of the supply chain, rather than just assembly [7] - The eastern regions should strengthen pilot projects in future industries like artificial intelligence and quantum computing to create a demonstration effect [7]

Core Insights - The service sector's value added grew by 5.5% year-on-year in the first half of the year, accelerating by 0.2 percentage points compared to the first quarter [1] - In June, the national service production index increased by 6.0% year-on-year, with significant growth in information transmission, software, and IT services at 11.6% [1] Service Sector Performance - The value added in the information transmission, software, and IT services sector grew by 11.1%, while leasing and business services increased by 9.6% [1] - The transportation, warehousing, and postal services sector saw a value added growth of 6.4%, and wholesale and retail trade grew by 5.9% [1] Revenue and Business Activity - From January to May, the revenue of large-scale service enterprises increased by 8.1% year-on-year [1] - The service business activity index stood at 50.1 in June, indicating a slight expansion, while the business activity expectation index was at 56.0, suggesting positive future outlook [1] Sector-Specific Insights - Industries such as postal, telecommunications, broadcasting, satellite transmission services, internet software and IT services, monetary financial services, capital market services, and insurance all reported business activity indices above 55.0, indicating a high level of prosperity [1]