(Economic Observer) China's economic semi-annual report for 2021 presents eight highlights
China News Service, Beijing, July 15th. Topic: Eight highlights of China's economic semi-annual report for 2021
China News Agency reporter Pang Wuji
China's economic semi-annual report for 2021 will be released on the 15th.
In the context of increasing uncertainty in the recovery of the world economy and prominent imbalances, China's economy continued to recover steadily in the first half of the year, and the economy strengthened steadily, showing eight major bright spots.
Economic stability and strengthening
After the "good start" in the first quarter, China's economy again reported "good news."
In the first half of the year, China's gross domestic product (GDP) grew by 12.7% year-on-year, of which the second quarter grew by 7.9% year-on-year, the quarter-on-quarter growth was 1.3%, and the two-year average growth was 5.5%, which was 0.5% faster than the first quarter.
In terms of related indicators, in the first half of the year, the freight volume of the whole society increased by 24.6% year-on-year, and the electricity consumption of the whole society increased by 16.1% year-on-year. The economy continued to resume growth.
Production demand continues to rise
In the first half of the year, the value added of China's industrial enterprises above designated size increased by 15.9% year-on-year, and the two-year average growth rate was 7.0%, 0.2% faster than the first quarter.
The output of new energy vehicles, industrial robots, and integrated circuits increased by 205.0%, 69.8%, and 48.1% respectively year-on-year, and the two-year average growth rate exceeded 30%.
In June, China's manufacturing purchasing managers' index was 50.9%, which was above the threshold for 16 consecutive months.
Consumption contribution rate reached 61.7%
In the first half of the year, the contribution rate of the added value of the service industry to economic growth reached 53%, an increase of 2.1 percentage points from the first quarter.
The proportion of manufacturing industry has been increased. In the first half of the year, the value added of the manufacturing industry accounted for 27.9% of GDP, an increase of 1.3 percentage points over the same period of the previous year.
At the same time, the role of consumption has increased.
In the first half of the year, the contribution rate of final consumption expenditure to economic growth reached 61.7%, 42.5 percentage points higher than the total capital formation.
Innovation momentum continues to increase
In the first half of the year, new market players grew rapidly.
At the end of June, according to the Basic Unit Directory of the Bureau of Statistics, the number of legal entities exceeded 30 million for the first time.
New industries and new products have grown rapidly. In the first half of the year, the added value of high-tech manufacturing above designated size increased by an average of 13.2% in two years, an increase of 0.9 percentage points over the first quarter.
In the first half of the year, the online retail sales of physical goods increased by an average of 16.5% in two years, accounting for 23.7% of the total retail sales of consumer goods.
The national express delivery business volume has exceeded 50 billion pieces, which is close to the level of 2018.
The employment situation is generally stable
In the first half of the year, the surveyed unemployment rate in cities and towns across the country averaged 5.2%, a decrease of 0.6 percentage points from the same period last year, and a decrease of 0.2 percentage points from the first quarter, which was lower than the expected target of around 5.5%.
There were 6.98 million new jobs in cities and towns across the country, completing 63.5% of the annual target and task.
At the end of the second quarter, there were 180 million rural laborers migrants, basically returning to the level of the same period in 2019.
National Bureau of Statistics spokesperson Liu Aihua said that in the next stage, China will adhere to the employment priority policy, continue to implement the policy of reducing burdens and stabilizing jobs and expanding employment, strengthen employment assistance for key groups, optimize employment services, expand employment capacity, and consolidate employment stability. situation.
Moderate price rise
In the first half of the year, Chinese consumer prices rose by 0.5% year-on-year, which was at a relatively low level of growth.
In June, the national consumer prices rose by 1.1% year-on-year, 0.2 percentage points lower than in May, and down 0.4% month-on-month.
Some countries are facing greater inflationary pressures.
The U.S. CPI increased by 5.4% year-on-year in June. After excluding the volatile food and energy prices, the core CPI rose by 4.5% year-on-year, the largest year-on-year increase since November 1991.
Income and GDP "go hand in hand"
In the first half of the year, the national per capita disposable income of 17,642 yuan (RMB, the same below), after deducting price factors, increased by 12.0% year-on-year in real terms, and the two-year average growth rate was 5.2%, slightly lower than the economic growth rate (5.3%), but basically kept pace.
The income gap between urban and rural residents narrowed, and the ratio of urban and rural residents' per capita income was 2.61, which was 0.07 smaller than the same period last year.
Foreign trade record
In the first half of the year, China's total import and export value of goods trade was 18.07 trillion yuan, the highest level in the same period in history, a year-on-year increase of 27.1%, and an increase of 22.8% compared with the same period in 2019.
China's imports and exports have been increasing year-on-year for 13 consecutive months.
From January to May, in terms of RMB, imports and exports, exports, and imports increased by 28.2%, 30.1% and 25.9% year-on-year, respectively, the highest levels in the same period in the past decade.
(Finish)