The National Economy Gradually Recovered In The First Half Of The Year, And The Economic Growth In The Second Quarter Turned From Negative To Positive

In the first half of the year, in the face of the severe test brought by the COVID-19 epidemic and the complex and changing domestic and international environment, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at the core, the whole country made a coordinated effort to promote the epidemic prevention and control and economic and social development, resolutely implemented various decisions and arrangements, the epidemic prevention and control situation continued to improve, and the resumption of production, business and market accelerated, In the first half of the year, China's economy fell first and then rose. In the second quarter, the economic growth turned from negative to positive. The main indicators recovered. The economic operation recovered steadily. The basic people's livelihood was guaranteed effectively. The market expectation was generally good, and the overall social development was stable.

According to preliminary accounting, the GDP in the first half of the year was 4566.14 billion yuan, a year-on-year decrease of 1.6% at comparable prices. On a quarterly basis, the first quarter saw a year-on-year decline of 6.8%, and the second quarter saw a growth of 3.2%. By industry, the added value of the primary industry was 2605.3 billion yuan, up 0.9% year on year; The added value of the secondary industry was 17275.9 billion yuan, down 1.9%; The added value of the tertiary industry was 25780.2 billion yuan, down 1.6%. On a month on month basis, GDP in the second quarter increased by 11.5%.

Rapid recovery of industrial production

In the first half of the year, the added value of industries above designated size nationwide dropped 1.3% year on year, 7.1 percentage points lower than that in the first quarter; Among them, the growth rate was 4.4% in the second quarter and 8.4% in the first quarter. In June, the added value of industries above designated size increased by 4.8% year on year, 0.4 percentage points faster than that in May, increasing for three consecutive months; The month on month growth was 1.3%. In the three major categories, the manufacturing industry declined by 1.4%, 0.6 and 8.8 percentage points lower than that in the first quarter. From January to May, the profit of industrial enterprises above designated size nationwide reached 1843.5 billion yuan, down 19.3% year on year, and the decline continued to narrow; Among them, the total profit in May turned to an increase of 6.0% from a year-on-year decrease of 4.3% in April. In June, the purchasing managers' index of China's manufacturing industry was 50.9%, up 0.3 percentage points from May, and above the critical point for four consecutive months.

Gradual improvement of marketing

In the first half of the year, the total retail sales of consumer goods reached 17225.6 billion yuan, down 11.4% year on year, 7.6 percentage points lower than that in the first quarter; The second quarter saw a decrease of 3.9%, 15.1 percentage points lower than the first quarter. In June, the total retail sales of consumer goods reached 3352.6 billion yuan, down 1.8% year on year, 1.0 percentage point less than that in May; The month on month growth was 1.34%. By type of consumption, retail sales of goods reached 15764.8 billion yuan, down 8.7%.

The national online retail sales reached 5150.1 billion yuan, up 7.3% year on year, and 0.8% in the first quarter. Among them, the online retail sales of physical goods reached 4348.1 billion yuan, up 14.3%, 8.4 percentage points faster than the first quarter; The proportion in the total retail sales of consumer goods was 25.2%, 1.6 percentage points higher than that in the first quarter.

The decline in fixed asset investment has narrowed significantly

In the first half of the year, the national fixed asset investment (excluding farmers) was 28160.3 billion yuan, down 3.1% year on year, 3.2 percentage points lower than that from January to May, and 13.0 percentage points lower than that in the first quarter. On a month on month basis, fixed asset investment (excluding farmers) in June increased 5.91% over the previous month.

In terms of sectors, the manufacturing investment fell by 11.7% in the first half of the year, 13.5 percentage points lower than that in the first quarter. By industry, the investment in the secondary industry dropped 8.3%, 13.6 percentage points lower than that in the first quarter.

Better than expected import and export of goods

In the first half of the year, the total import and export of goods was 14237.9 billion yuan, down 3.2% year on year, 3.3 percentage points lower than that in the first quarter; Among them, the year-on-year decrease was 0.2% in the second quarter and 6.5% in the first quarter. Exports reached 7713.4 billion yuan, down 3.0%; Import reached 6524.5 billion yuan, down 3.3%; Import and export balance, with a trade surplus of 1188.9 billion yuan. The trade structure continued to be optimized. The import and export of general trade accounted for 60.1% of the total import and export, an increase of 0.4 percentage points over the same period of the previous year. In June, the total import and export volume was 2697.3 billion yuan, up 5.1% year on year; Exports reached 1513.1 billion yuan, up 4.3%; Imports reached 1184.2 billion yuan, up 6.2%.

In the first half of the year, the export delivery value of industrial enterprises above designated size nationwide reached 5425 billion yuan, down 4.9% year on year, 5.4 percentage points lower than that in the first quarter; Among them, the export delivery value achieved in June turned to an increase of 2.6% from a year-on-year decrease of 1.4% in May.

Moderate rise in consumer prices

In the first half of the year, the national consumer price rose 3.8% year on year, 1.1 percentage points lower than that in the first quarter. Regardless of classification, clothing decreased by 0.1%. In June, the national consumer price rose 2.5% year on year and fell 0.1% month on month.

The ex factory price of industrial producers declined year-on-year

In the first half of the year, the ex factory price of industrial producers nationwide dropped by 1.9% year on year; Among them, the year-on-year decrease in June was 3.0%, and the month on month increase was 0.4%. In the first half of the year, the purchase price of national industrial producers fell 2.6% year on year; Among them, June saw a year-on-year decrease of 4.4% and a month on month increase of 0.4%.

On the whole, in the first half of the year, China's economy gradually overcame the adverse effects of the epidemic, and its economic operation showed a trend of recovery and steady recovery. The resilience and vitality of development were further demonstrated. At the same time, it should be noted that some indicators are still declining, and the impact losses of the epidemic still need to be made up. At present, the global epidemic is still spreading, the huge impact of the epidemic on the world economy will continue to evolve, external risks and challenges will increase significantly, and domestic economic recovery is still under pressure. Next, we should adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, link up the work of coordinated promotion of normalized epidemic prevention and control and economic and social development, adhere to the goal guidance and problem orientation, build momentum, seek momentum, identify changes and seek changes, focus on key points, supplement weaknesses, strengths and weaknesses, do a solid job of "six stability", and comprehensively implement the task of "six guarantees", We will ensure that all decisions and arrangements take root, firmly win the battle against poverty, strive to complete the goal of building a moderately prosperous society in all respects, and promote the stability of China's economy.