"Economic Deleveraging" Is Of Great Benefit To The Elimination Of Zombie Enterprises.

Monetary policy is still neutral, and the RMB value is short-term worry free. Consumption growth is stable but weak.

In June, the total retail sales of social consumer goods amounted to 29808 billion yuan, an increase of 11% over the same period last year.

In 2017 1-6, retail sales of consumer goods totaled 172369 billion yuan, an increase of 10.4% over the same period last year.

The retail sales of urban consumer goods amounted to 25545 billion yuan, the former value was 25360 billion yuan, and the retail sales volume of rural consumer goods was 426 billion 300 million yuan, with a value of 409 billion 900 million yuan.

According to the consumption type, the restaurant income is 325 billion 400 million yuan, the former value is 321 billion 80 million yuan, the commodity retail business is 26554 billion yuan, the former value is 2 trillion and 624 billion 850 million yuan.

Investment in fixed assets rose slightly, and real estate investment grew faster than the general level.

In June, investment in fixed assets was 7 trillion and 680 billion yuan and 5 trillion and 930 billion yuan in May.

Real estate development completed 1 trillion and 300 billion yuan, in May was 980 billion yuan.

Industrial added value was 6.9% in June, up from 6.7% in May.

Among them, the cumulative share of state-owned and state holding enterprises increased from 6.1% in May to 6.2% in June.

Shareholding enterprises and foreign enterprises increased year by year.

In June, the average daily coal consumption of the six power generation groups averaged 627 thousand and 700 tons, up from 607 thousand and 800 tons in May.

The trade surplus has increased slightly, and net exports have limited effect on the economy.

In June, it exported 196 billion 591 million US dollars and 191 billion US dollars in May.

In June, it imported 153 billion 800 million US dollars and 150 billion 200 million in May.

Exports of labor-intensive products and mechanical and electrical products represented by textiles and shoes and hats are very robust.

In June, exports of textiles, yarns, fabrics and products, bags, garments and footwear in China amounted to US $31 billion 490 million, slightly higher than US $30 billion 470 million in May.

Among them,

Exports of luggage and bags are decreasing while clothing and footwear exports are rising.

Judging from imports, the situation is not optimistic. In June, 3 million 180 thousand tons of iron ore were imported, compared with 9 million 290 thousand tons in May.

Crude oil imports decreased by 1 million 90 thousand tons, compared with 2 million 810 thousand tons in May, 320 thousand tons of natural rubber and 4 million 290 thousand tons of synthetic rubber.

The import of high-tech products decreased from US $4 billion 179 million in May to US $3 billion 500 million.

However, the import of mechanical and electrical products increased from 4 billion 972 million US dollars in May to US $5 billion 308 million.

Domestic demand is not much improved, and perhaps we can get a glimpse from these data.

The above data indicate that, on the one hand, the demand for primary products exported by foreign countries is decreasing; on the other hand, China's imports of foreign raw materials are also declining.

All of these indicate that the world economy is generally indifferent, and political events are coming one after another. The future import and export faces greater uncertainty.

In addition, the increase in the central bank's foreign exchange reserves is far less than the increase in trade surplus in recent months, indicating a sharp negative growth in capital terms, or the pressure on the renminbi to bear pressure again.

Monetary policy tools remain the main means of liquidity injection.

In June, M2 grew by 9.4% over the same period last year, down 0.2% from 9.6% last month, and M1 grew by 15%, down from 17% in May. The growth rate of M0 was 6.6%, lower than the growth rate of 7.3% in May.

It is worth noting that although the M2 growth rate is very low, from absolute terms, compared with May increased by 2 trillion and 990 billion yuan, so the value is more meaningful than the growth rate.

The central bank passed in June.

The total cost of the tool was 639 billion 100 million yuan.

In addition, foreign exchange accounted for 34 billion 300 million yuan in June, indicating that the central bank's anti write off continues.

The two banks add up to 670 billion yuan.

However, the M0 in June decreased by 35 billion 500 million yuan compared with May, which may be the root cause of the rising market interest rate. The interest rate of SHIBOR overnight has risen to 2.78%, and the interest rate of treasury bond reverse repurchase has risen to 4.22%.

Overall, "

"It is of great benefit to the elimination of zombie enterprises, and the economy implies greater vitality.

At present, the central bank has continued its neutral monetary policy. Liquidity has always been neutral and tight.

The financial work conference has a new understanding and interpretation of the economy. Following the opening of the Xiong an new area, the economic growth rate may be pleasantly surprised by the stimulation of investment.

Short term fluctuations in prices will not be too great.

Although the weather may be affected by the weather and partial regional instability in July, the economy may fluctuate more, but no factors will cause greater fluctuation.

Of course, if local conflicts escalate or the situation in the south becomes more serious, nature is another situation.

For more information, please pay attention to the world clothing shoes and hats and Internet cafes.