Twenty-seven provinces issued the "semi-annual economic report" indicating that -

Speeding up economic recovery in various regions and improving efficiency

Our reporter Xiong Li

  Localities are successively releasing economic performance data for the first half of the year.

As of July 25, in addition to Hebei, Zhejiang, Tibet, and Xinjiang, 27 provinces have issued "semi-annual reports."

Among them, the year-on-year growth rate of 10 provinces outperformed the national growth rate or remained the same, and the average growth rate of 14 provinces outperformed the country in two years.

  Data shows that the local economy is recovering steadily, major economic indicators continue to rise, and new momentum continues to grow.

At the same time, we must also note that there are still many uncertain factors in the external environment, the uneven growth of industries and enterprises is still prominent, and the foundation for sustained economic recovery still needs to be consolidated.

Look at the growth rate: the pace of economic recovery is accelerating

  According to preliminary calculations, my country's GDP in the first half of the year increased by 12.7% year-on-year, and the two-year average growth rate was 5.3%. The two-year average growth rate was 0.3 percentage points higher than the first quarter.

  In terms of regional GDP, the pattern of Guangdong, Jiangsu, and Shandong in the top three in terms of total economic output remains unchanged.

In the first half of the year, Guangdong Province achieved a regional GDP of 5,722.631 billion yuan, followed by Jiangsu Province with a total economic output of 5,519.963 billion yuan, and Shandong Province ranked third with 3,890,635 million yuan.

Among the provinces that have released data, Shanghai, Henan, Sichuan, Fujian, Hubei, Hunan, and Anhui have economic aggregates exceeding 2 trillion yuan.

  In terms of the year-on-year growth rate, affected by the increase in the base figure in the same period last year, the economic growth rate of various regions in the first half of the year has fallen from the first quarter.

The 10 provinces of Hubei, Hainan, Beijing, Jiangsu, Guangdong, Jiangxi, Anhui, Shandong, Chongqing and Shanghai outperformed the national level in year-on-year growth or remained flat.

  In the first half of the year, Hubei Province continued to top the year-on-year growth rate.

In the first half of the year, the regional GDP of Hubei Province increased by 28.5% over the same period of the previous year and 3.7% over the same period in 2019, with an average growth rate of 1.8% over the two years.

“Hubei’s economy has a beautiful start and delivered an excellent midterm answer.” Ye Fusheng, chief statistician of the Hubei Provincial Bureau of Statistics, said that under the combined effect of the enhanced endogenous power of the economy and the force of trend regression, the initial realization of “reducing the negative growth of last year” "Partially make up" the phased goal.

  From the two-year average growth rate, among the provinces for which data have been released, a total of 14 provinces outperformed the country in growth rate. Hainan leads the way with 7.0%, and Jiangsu follows closely with 6.9%.

  The reporter's inventory found that in the first half of the year, the two-year average growth rate of many provinces has accelerated compared with the first quarter.

For example, the two-year average growth rate of Chongqing and Jilin both accelerated by 1.4 percentage points compared with the first quarter, and the two-year average growth rate of Gansu and Tianjin respectively accelerated by 1.3 and 1.1 percentage points compared with the first quarter.

Jiangsu's two-year average growth rate was 6.9%, 0.5% faster than the first quarter, higher than the 6.5% growth rate in the first half of 2019, indicating that the economic recovery has reached the pre-epidemic level.

Look at the power: the two ends of supply and demand work together

  In the first half of the year, production demand in various regions continued to rebound, and economic operations continued to recover and stabilized.

  On the supply side, stable growth in agricultural production, steady progress in industrial production, and sound growth in the service industry have consolidated the foundation for economic recovery.

In the first half of the year, pillar industries such as Beijing's pharmaceuticals and electronics played an important supporting role, contributing more than 80% of the growth of industries above designated size.

In the first half of the year, Fujian's pharmaceutical, electrical, and electronic industries performed outstandingly. The added value of the pharmaceutical manufacturing industry increased by 80.4% year-on-year, and the two-year average growth rate was 40.0%.

  The growth of new momentum accelerated, and the production and sales of new products were booming.

In the first half of the year, the total output value of Shanghai's industrial strategic emerging industries increased by 19.6% over the same period last year.

Among them, the output value of new energy vehicles increased by 2.5 times, the output value of energy saving and environmental protection increased by 27.8%, and the output value of digital creativity increased by 65.1%.

In Jiangsu, the operating income of Internet platforms and Internet data services increased by 66.7% and 2.9 times respectively year-on-year; in Jilin, the output of EMUs and high-performance synthetic fibers increased by about 1 time, and the output of integrated circuits increased by more than 3 times.

  On the demand side, investment and consumption continued to pick up, and the export structure continued to be optimized.

For example, the total retail sales of consumer goods in Anhui Province in the first and second quarters increased by 9.6% and 12.1% respectively in two years, and the consumer goods market is steadily returning to the level of normal years; Hainan Province’s upgraded consumer goods have grown rapidly, and units above designated size in cosmetics and gold The retail sales of silver jewellery and communication equipment have all doubled.

  Investment in various regions has recovered steadily, the structure has been continuously optimized, and private investment has picked up.

In the first half of the year, investment in fixed assets in Jiangxi Province increased by 20.2% year-on-year, which was 7.6 percentage points higher than the national average; investment in high-tech industries in Inner Mongolia increased by 50.1% year-on-year, 24.4 percentage points higher than the overall investment growth rate.

  In the first half of the year, my country's foreign trade continued its good momentum, achieving positive year-on-year growth for 13 consecutive months, which is also reflected in the foreign trade data of various provinces.

For example, in the first half of the year, the total import and export of goods in Fujian Province increased by 39.1% year-on-year, an increase of 4.9 percentage points higher than the first quarter.

Shandong's exports to developed markets such as Europe, the United States, and South Korea have increased by more than 30%, and exports to countries along the “Belt and Road” have increased by 41.8%.

  However, the global new crown pneumonia epidemic continues to evolve, and there are still many uncertain factors in foreign trade.

Cui Hongguang, deputy director of the Shandong Provincial Department of Commerce, said that foreign trade companies are under multiple pressures, with rising raw material prices, renminbi exchange rate fluctuations, and high shipping prices, which have compressed corporate profit margins. The number of companies that have not signed new export orders has increased and is expected to boost exports in the second half of the year. The rapidly growing demand for anti-epidemic materials and home, work and life products will decrease, and exports will face greater pressure in the future.

 See benefit: Quality and benefit are steadily improved

  In the first half of the year, along with the steady and positive economic growth in various regions, the quality and efficiency of economic development also improved.

  Residents' income keeps growing.

In the first half of the year, the per capita disposable income of urban and rural residents in Guizhou Province both achieved double-digit growth, increasing by 10.8% and 14.1% respectively, the growth rate ranking among the highest in the country.

The per capita disposable income of urban residents in Hubei Province increased by 20.5%, an increase of 8.3% over the same period in 2019.

  Continuous improvement of corporate efficiency.

In the first five months of this year, the profitability and profit growth of 41 industrial sectors in Shandong Province have exceeded 70%, and nearly 30% of the industry profits have doubled.

Since the beginning of the year, the profits of industrial enterprises above designated size in Beijing have doubled year-on-year, with a year-on-year increase of 2.2 times in the first five months, an average increase of 64.9% in the two years.

  Fiscal revenue has grown rapidly.

For example, under the premise of implementing tax and fee reductions in Hubei Province, general public budget revenue increased by 65.4%, of which tax revenue accounted for 80.1%, an increase of 3.6 percentage points over the same period in 2019.

Hunan Province's local general public budget revenue was 171.368 billion yuan, a year-on-year increase of 22.6%, and an average increase of 5.8% in two years.

  The vitality of market entities is improving.

In the second quarter, the Jiangsu Enterprise Prosperity Index reached 135.0, an increase of 20.4 points year-on-year; the entrepreneur confidence index reached 136.2, an increase of 21.2 points year-on-year.

The survey shows that the expected index of private service companies in Anhui Province for the third quarter is 66.1%, which is in a relatively high economic range, indicating that the market recovery is further consolidated.

  While seeing the stable recovery of the economy, all localities have also realized that the current economic operation still faces many uncertain factors, the uneven economic recovery still exists, and the maintenance of the stable and healthy economic operation still requires greater efforts.

Sun Dawei, the second-level inspector of the Jilin Provincial Department of Industry and Information Technology, said that in the second half of the year, the province’s industrial operation still faces many challenges, such as the impact of the “core shortage” of automobiles that cannot be eliminated in the short term, the growth rate of some large enterprises has slowed, and the production and operation of some small and medium-sized enterprises. difficulty.

Ma Jun, director of the Industrial Statistics Division of the Jiangsu Provincial Bureau of Statistics, said that the problem of unbalanced growth of industries and enterprises still exists. The increase in prices of major raw materials has led to increased cost pressures for enterprises. At the same time, the rise in exchange rates will further increase the financial burden of foreign trade enterprises.

  Our reporter Xiong Li

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