Basic people's livelihood security is strong and the overall situation of social development is stable-the relevant person in charge of the National Bureau of Statistics interprets the main economic data in the first half of the year (part 2)

  The investment decline has significantly narrowed, the consumption pattern has developed in innovation, the employment situation has gradually improved, the price increase trend has fallen, and the nominal growth rate of income has rebounded... Overall, China's economy has gradually overcome the adverse effects of the new crown pneumonia epidemic in the first half of the year, and economic operations have resumed Sexual growth and steady recovery trend, development resilience and vitality have further demonstrated. In the next step, we must adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, integrate the promotion of normalized epidemic prevention and control and economic and social development work, do a solid job of "six stability", and fully implement the "six guarantees" task. Ensure that all decision-making arrangements take root and promote the steady and long-term development of China's economy.

  The decline in investment has narrowed significantly

  Peng Yongtao, Director of the Investment Department of the National Bureau of Statistics

  In the first half of the year, all regions and departments coordinated to advance the prevention and control of the new crown pneumonia epidemic and economic and social development, and did a solid job of stabilizing investment. The decline in investment was significantly narrowed, and the trend of recovery was further manifested. The decline of infrastructure investment, manufacturing investment, and private investment continued to narrow; the growth rate of investment in areas such as people's livelihood security and high technology further accelerated; the planned total investment of new projects and investment funds in place rebounded rapidly.

  1. Investment decline narrowed month by month

  In the first half of the year, national investment in fixed assets fell by 3.1% year-on-year, and the rate of decline was 3.2, 7.2, 13.0, and 21.4 percentage points lower than that from January to May, January to April, the first quarter, and January to February, respectively. Narrow the situation.

  2. Investment in the field of people's livelihood maintains rapid growth

  In the first half of the year, investment in the production and supply of electricity, heat, gas and water increased by 18.2% year-on-year. The growth rate was 4.4 percentage points higher than that from January to May, and was down 0.5% in the same period last year.

  Investment in the social sector increased by 5.3% year-on-year, and the growth rate was 1.7% faster than that from January to May. Investment in agriculture, forestry, animal husbandry and fishery increased by 5.5% year-on-year, and the growth rate was 3.7% faster than that from January to May.

  3. Rapid growth of investment in high-tech industries

  In the first half of the year, investment in high-tech industries increased by 6.3% year-on-year, and the growth rate was 4.4 percentage points faster than that from January to May.

  Investment in high-tech manufacturing increased by 5.8% year-on-year, and the growth rate was 3.1 percentage points faster than that from January to May. Investment in the high-tech service industry increased by 7.2% year-on-year, and the growth rate was 6.7 percentage points higher than that from January to May.

  4. Investment in the three major areas of infrastructure, real estate development, and manufacturing continues to improve

  In the first half of the year, infrastructure investment fell by 2.7% year-on-year, and the rate of decline narrowed by 3.6 percentage points from January to May. Investment in some infrastructure sectors has achieved positive growth. Among them, investment in railway transportation increased by 2.6%, investment in road transportation increased by 0.8%, investment in information transmission increased by 9.2%, and investment in water management increased by 0.4%.

  Investment in real estate development turned from a decline to an increase, with a year-on-year increase of 1.9% in the first half of the year, and a decrease of 0.3% from January to May. Manufacturing investment fell 11.7% year-on-year, and the rate of decline narrowed 3.1 percentage points from January to May.

  V. Steady recovery of private investment

  In the first half of the year, private investment fell by 7.3% year-on-year, and the rate of decline narrowed by 2.3 percentage points from January to May. Among them, the decline of private investment in manufacturing narrowed by 3.1 percentage points from January to May; the decline of private investment in real estate development narrowed by 1.5 percentage points.

  6. The leading indicators of investment are obviously improving

  In the first half of the year, the growth rate of planned total investment in newly-started projects further accelerated, with a year-on-year increase of 13.5%, and the growth rate accelerated by 5.6 percentage points from January to May, which was a new high in recent years; investment funds also turned from a decline to a flat level, including the state budget Capital growth rate is as high as 23.0%. The significant improvement in the leading indicators of investment indicates that investment is expected to continue its upward momentum.

  Innovative development of consumption methods, continued market sales rebound

  Lin Tao, Director of the Department of Trade and Foreign Economic Cooperation, National Bureau of Statistics

  Affected by the new crown pneumonia epidemic, the total retail sales of consumer goods in the first half of the year fell year-on-year. Since March, market entities have accelerated the pace of business and market resumption. Residents’ out-going consumption has increased in an orderly manner, market vitality has gradually improved, and market sales have continued to improve; consumption transformation and upgrading have accelerated, and new consumption has continued to maintain a good momentum of development.

  1. The consumer goods market continued to improve, and the upward trend gradually consolidated

  In June, the total retail sales of consumer goods fell by 1.8% year-on-year, and the rate of decline was 1 percentage point smaller than that in May, and it improved for four consecutive months. Excluding automotive products, total retail sales of consumer goods in June fell 1% year-on-year, and the rate of decline narrowed by 2.5 percentage points from May.

  2. Simultaneous improvement of urban and rural markets, rural markets are better than urban markets

  In the first half of the year, the retail sales of consumer goods in urban areas was 1,49345 billion yuan, down 11.5% year-on-year; the retail sales of consumer goods in rural areas was 2,291.1 billion yuan, down 10.9%. According to monthly data, since March, both urban and rural markets have recovered for 4 consecutive months. In June, the retail sales of urban consumer goods and rural consumer goods decreased by 2.0% and 1.2% year-on-year, respectively. The decline was 0.8 and 2 percentage points lower than that in May. The scale of urban and rural markets was close to the same month in the previous year.

  3. Online consumption continues to grow, and physical store retail has accelerated

  In the first half of the year, the national online retail sales of physical goods increased by 14.3% year-on-year, and the growth rate accelerated by 2.8 percentage points from January to May; the online retail sales of physical goods accounted for 25.2% of the total retail sales of consumer goods, an increase of 5.6 percentage points year-on-year.

  In the first half of the year, in the retail sales of units with stores above designated size, the retail sales of various types of goods improved compared with the first quarter.

  4. Commodity retail has recovered rapidly, and the catering and accommodation industries continue to improve

  In the first half of the year, merchandise retail sales fell by 8.7% year-on-year. Among them, the decline in merchandise retail sales in the second quarter narrowed by 14.1 percentage points from the first quarter, and monthly merchandise retail sales improved for four consecutive months.

  In the first half of the year, catering revenue dropped by 32.8% year-on-year. Among them, catering revenue in the second quarter narrowed by 23 percentage points compared with the first quarter, and catering revenue improved for three consecutive months. From the perspective of room revenue, the decline in room revenue of enterprises above designated size in the first half of the year narrowed by more than 7 percentage points from the first quarter.

  5. Commodity supply is stable and sufficient, and market vitality is steadily improving

  In the first half of the year, the added value of food manufacturing in the industrial production of consumer goods was close to the level of the same period last year, and the decline was 0.8 percentage points lower than the added value of industries above designated size in the same period; the added value of industries such as pharmaceuticals, computers and other electronic equipment manufacturing achieved year-on-year growth.

  Market activity continued to pick up. In June, the non-manufacturing business activity index was 54.4%, an increase of 0.8 percentage points from the previous month. Among them, the business activity index of wholesale and retail industries has been above the prosperity and decline line for 4 consecutive months, and the business activity index of the catering industry has been above the prosperity and decline line for 3 consecutive months.

  The employment situation is gradually improving and key groups still need attention

  Zhang Yi, Director of the Population and Employment Statistics Department of the National Bureau of Statistics

  Affected by the new crown pneumonia epidemic, employment is facing greater pressure that has been rare for many years. With the continuous improvement of the epidemic prevention and control situation, the resumption of work and production, and the resumption of business and markets have steadily progressed, the economic and social order has been restored rapidly, and employment has shown an improvement momentum. However, as college graduates enter the labor market intensively, the current employment pressure is still great, and it is necessary to increase policy implementation to stabilize the employment of key groups.

  1. Looking at multiple indicators, the employment situation is gradually improving

  In the second quarter, the order of production and life gradually recovered, and the employment situation gradually improved. The urban surveyed unemployment rates in each month were 6.0%, 5.9%, and 5.7%, showing a gradual decline. Among them, the unemployment rate in June dropped by 0.5 percentage point from the peak in February. The labor force who withdrew due to the impact of the epidemic in the early stage has returned one after another, and most of them have searched and found jobs again. In June, the urban labor participation rate rose by about 10 percentage points from February, about 0.6 percentage points higher than in January, and close to the level of the same period last year. In June, total urban employment increased by more than 19% compared with February. The number of employed persons has exceeded January, and most industries have reached pre-epidemic levels; the proportion of urban employees who are not working has fallen from nearly 50% in February to less than 1% , Has gradually returned to normal levels.

  2. The current employment pressure is still high, and the task of stabilizing employment is very arduous

  Although the employment situation has improved compared with the initial stage of the epidemic, the domestic and international environment is complex and severe, the demand for employment by enterprises is weak, the unemployment rate is operating at a high level, and the overall employment pressure is still relatively high. In June, the surveyed unemployment rate in urban areas was still 0.6 percentage points higher than the same period last year. Among them, the unemployment rate of the urban migrant agricultural population (mainly migrant workers) was 0.7 percentage points higher than the same period last year. Against the backdrop of a decline in the overall unemployment rate, the unemployment rate among young people aged 16 to 24 has continued to rise in recent months. At the same time, small and medium-sized enterprises with strong ability to absorb employment are still under great pressure, and it will take some time for the production and operation of individual industrial and commercial households to recover from the impact of the epidemic.

  3. Strengthen policy implementation and stabilize employment of key groups

  The Party Central Committee and the State Council attach great importance to employment, regard employment as the primary task of the "six stability" and "six guarantees", and have issued a series of employment stabilization policies. In the next step, we must continue to increase the implementation of the employment policy, pay close attention to the implementation, and promote the continuous improvement of the employment situation. The first is to help enterprises stabilize jobs and stabilize employment, implement various tax and fee reduction policies, effectively reduce the production and operation costs of enterprises, reasonably reduce corporate taxes and social security burdens, and expand the scope of benefits for enterprises that reduce rent, water, electricity, and broadband fees. The second is to refine the local employment policy for migrant workers, continue to guide migrant workers to go out for employment in an orderly manner, ensure that migrant workers can fairly enjoy employment services in the place of employment, and provide targeted vocational skills training. The third is to broaden the employment channels for college graduates, promote market-oriented and socialized employment, increase policies that encourage enterprises to absorb employment and graduates to start their own businesses, and implement various policies to expand the scale of grassroots employment.

  The price increase trend has fallen back, the means of production run low

  Wang Youjuan, the main person in charge of the City Department of the National Bureau of Statistics

  The new crown pneumonia epidemic has caused a serious impact on China’s economy. All regions and departments have resolutely implemented the Party Central Committee’s series of policies and measures on maintaining supply and stabilizing prices, and accelerated the resumption of work and production, and the resumption of business and markets. The supply of important livelihood commodities is sufficient, and market demand has further rebounded. The supply and demand relationship is generally stable, the CPI has risen structurally, the growth trend has fallen, and the PPI has been operating at a low level, maintaining a downward trend.

  1. Prices in the consumer sector have risen structurally and food prices have risen more

  The increase of CPI showed a downward trend. In the first half of the year, CPI rose 3.8% over the same period last year. On a monthly basis, the CPI growth rate showed a trend of high before and low afterwards. Beginning in March, the CPI fell for four consecutive months, and the year-on-year growth rate also fell from 4.3% in March to 2.5% in June, returning to the "second era".

  Food prices, especially pork prices, have increased significantly. In the first half of the year, food prices rose by 16.2%, an increase of 11.5 percentage points over the same period last year. This affected the increase in CPI by approximately 3.27 percentage points, accounting for more than 80% of the total increase in CPI. Among them, the price of pork rose by 104.3%, an increase of 96.6 percentage points over the same period last year, affecting the increase of CPI by about 2.52 percentage points, accounting for more than 60% of the total increase in CPI.

  The core CPI is basically stable. In the first half of the year, the core CPI, excluding food and energy prices, rose by 1.2% year-on-year, 0.1 percentage point lower than the first quarter, and 0.6 percentage point lower than the same period last year.

  2. Prices in the production sector are operating at low levels, and prices in petroleum-related industries fluctuate greatly

  PPI maintains a downward trend. In the first half of the year, the national PPI went from a 0.3% increase in the same period last year to a decrease of 1.9%, an increase of 1.3 percentage points over the first quarter. On a monthly basis, in January, the PPI was flat month-on-month, with a year-on-year increase of 0.1%. Affected by factors such as the epidemic, the PPI fell from February to the previous year, and the month-on-month decline expanded from 0.5% to 1.3% in April, with a year-on-year decrease of 0.4 % Expanded to 3.1% in April. As the epidemic prevention and control situation stabilizes and improves, the pace of resumption of work and production has accelerated, and demand has improved. The month-on-month decline in PPI narrowed in May, but due to the higher comparison base in the same period last year, the year-on-year decline expanded to 3.7%; in June, The PPI stopped falling and turned up, rising 0.4%, and the year-on-year decline narrowed to 3.0%.

  Prices in oil-related industries fluctuated sharply. In the first half of the year, due to the "price war" of major oil-producing countries and the new crown pneumonia epidemic, the international crude oil prices fluctuated sharply, which affected the price fluctuations of the domestic oil and natural gas extraction industry. The month-on-month increase and decrease ranged from -35.7% to 38.2%. The year-on-year increase and decrease ranged from -57.6% to 17.5%, with an average drop of 27.0% in the first half of the year.

  Prices in metal-related industries have fallen. In the first half of the year, the epidemic led to the suppression of industrial production and investment, and the overall demand for metal-related industries was weak. The price of ferrous metal smelting and rolling processing industry fell by 4.1%, an increase of 3.6 percentage points over the same period last year.

  Prices in other industries were generally stable. During the epidemic prevention and control period, the supply of some products was tight, and the prices of agricultural and sideline food processing industry and pharmaceutical manufacturing industry rose by 6.3% and 0.8% respectively.

  The nominal growth rate of income rebounded and the consumption level gradually recovered

  Fang Xiaodan, Director of the Household Survey Office of the National Bureau of Statistics

  In the first half of the year, under the influence of a series of policies and measures to stabilize employment, protect people's livelihood and promote consumption, the national income growth rate continued to pick up, and the consumption level of residents gradually recovered. In particular, residents' basic living expenditure maintained a steady growth.

  1. The growth rate of residents' income has rebounded, and the growth rate of rural residents' income is faster than that of urban residents

  In the first half of the year, the national per capita disposable income of residents was 15,666 yuan, a nominal increase of 2.4% over the same period of the previous year, and the nominal growth rate rose 1.6 percentage points from the first quarter. Excluding price factors, the actual decline was 1.3%, and the actual rate of decline was 2.6 percentage points lower than in the first quarter.

  The nominal growth rate of per capita disposable income of rural residents was 2.2 percentage points faster than that of urban residents, and the decline in actual income was less than 1.0 percentage point of urban residents. The relative income gap between urban and rural residents continued to narrow.

  2. A small increase in wage income, and policies such as stabilizing employment have laid the foundation for increasing residents’ income

  In the first half of the year, the national per capita wage income of residents was 9,010 yuan, an increase of 2.5%, an acceleration of 1.3 percentage points from the first quarter, driving the national per capita disposable income to increase by 1.4 percentage points. A series of employment stabilization and people's livelihood policies have been implemented and the employment situation is gradually improving, which has played a positive role in the steady increase of residents’ wage income.

  3. The transfer of net income has accelerated growth, and the lives of low-income groups in difficulties are guaranteed.

  In the first half of the year, the national per capita net income of transferred residents was 2,938 yuan, an increase of 8.2%, which was 1.4 percentage points higher than that in the first quarter and the same period of last year, driving the national per capita disposable income to increase by 1.5 percentage points. The accelerated growth of transferred net income will continue to play an important role in effectively ensuring basic people's livelihood under the impact of the epidemic.

  4. The decline in net operating income has narrowed, and the net operating income of rural residents has changed from a decline to an increase

  In the first half of the year, the national per capita net operating income fell by 5.1% year-on-year, and the rate of decline narrowed by 2.2 percentage points from the first quarter. At the same time, the prices of live pigs, cattle and sheep and other livestock products are operating at a high level, and the increase in net operating income of animal husbandry drives the per capita net operating income of rural residents from a 1.1% decline in the first quarter to an increase of 1.8%.

  5. Residents' consumption levels have gradually recovered, and basic living expenses such as food, tobacco and alcohol have increased steadily

  In the first half of the year, the decline in per capita consumption expenditure of residents across the country narrowed significantly. The nominal and actual declines were 2.3 and 3.2 percentage points respectively lower than those in the first quarter. The national per capita expenditure on food, tobacco and alcohol increased by 5.0%, 2.9% faster than the first quarter. The growth rate of part of the household consumption expenditure of residents turned from negative to positive. In the first half of the year, per capita communication expenditure of residents nationwide increased by 3.0%, and fell by 2.9% in the first quarter.

  6. New consumption growth points drive household consumption replenishment, and online consumption and health consumption have a strong momentum

  In the first half of the year, the number of people purchasing goods or services through the Internet generally increased, and the per capita postage expenditure increased by 10.8%. The national per capita expenditure on medical alcohol, masks and other medical and sanitary appliances increased by 3.3 times, the per capita expenditure on washing and sanitary products increased by 19.9%, and the per capita expenditure on fitness equipment increased by 13.7%.