National Development And Reform Commission: Maintaining Continuity, Stability And Sustainability Of Macro Policies

How to look at the economic data in the first half of the year? How to judge the trend of the whole year? How to do economic work in the second half of the year? Yuan Da, spokesman of the national development and Reform Commission, responded to the above topics on the 19th.

On the 19th, the national development and Reform Commission held a press conference. Yuan Da pointed out that since this year, in the face of severe and complex external environment and contradictions in domestic economic recovery, various regions and departments have, in accordance with the decision-making and deployment of the Party Central Committee and the State Council, made overall plans for epidemic prevention and control and economic and social development, done a solid job in the "six stability" work, comprehensively implemented the "six guarantees" task, consolidated major achievements in the anti epidemic strategy, and achieved remarkable economic recovery results, The economic operation is in a steady and stable situation. The main manifestations are as follows:

First, the foundation for economic recovery continued to be consolidated. In the first half of this year, the GDP increased by 12.7% year-on-year, including 7.9% in the second quarter and 5.5% in the two years, 0.5% higher than that in the first quarter; The growth rate was 1.3% month on month, 0.9% faster than that in the first quarter. In terms of the physical quantity index, the electricity consumption and freight volume of the whole society increased by 16.2% and 24.6% respectively in the first half of the year, with an average growth of 7.6% and 7.2% in the two years, showing a good match with the economic growth. Employment prices were generally stable, with 6.98 million new urban jobs, and consumer prices rose 0.5% year on year.

Second, the endogenous growth momentum has steadily increased. In the first half of the year, fixed asset investment and total retail sales of social consumer goods increased by 12.6% and 23% respectively year-on-year. The average growth rate in the two years was 4.4%, 1.5% and 0.2% higher than that in the first quarter. In the first half of the year, the newly established market entities maintained a rapid growth, and the import and export of goods priced in RMB increased by 27.1%.

Third, the quality and efficiency of development have been continuously improved. The ability of scientific and technological innovation has been continuously improved, the transformation and upgrading of traditional industries has been accelerated, and the industrial structure has been continuously adjusted and optimized. Summer grain harvest again, agricultural production foundation further consolidated. In the first half of the year, the equipment manufacturing industry and high-tech manufacturing industry increased by 22.8% and 22.6% respectively, 6.9 and 6.7 percentage points higher than those of the overall industry. At the same time, the profits of Industrial Enterprises above designated size increased by 83.4% year on year in the first five months, with an average growth of 21.7% in two years.

Fourth, market confidence is expected to be stable and good. In June, the purchasing manager index (PMI) and non manufacturing business activity index of the manufacturing industry were 50.9% and 53.5% respectively, which have been above the prosperity and drought line for 16 consecutive months. At the same time, foreign investors' confidence in China's economy continued to increase. In the first half of the year, the actual use of foreign capital in RMB was 28.7% higher than that in the same period in 2019, an increase of 27.1%.

Fifth, people's living standards have been continuously improved. In the first half of the year, China's per capita disposable income increased by 12% in real terms on a year-on-year basis, with an average increase of 5.2% in two years, an increase of 0.7 percentage points over the first quarter. The level of social security and public service has been further improved. We will continue to adjust the basic pension for retirees, increase the central adjustment of the basic endowment insurance fund for enterprise employees, establish and improve the outpatient mutual aid security mechanism for employees' basic medical insurance, and promote the implementation of six major public service projects, such as making up for the weaknesses of national fitness facilities and covering the bottom line of social service facilities.

"At the same time, we also see that the process of economic recovery is still facing difficulties and challenges, especially some problems of uncertainty, instability and imbalance. From the international perspective, the global epidemic situation is still evolving, the risks in the process of world economic recovery are still accumulating, the economic trends and macro policies of different economies are differentiated, and global inflation is obviously warming up; From the domestic point of view, the production and operation of some middle and lower reaches industries and small and medium-sized and micro enterprises are still relatively difficult, the recovery of consumption of life services such as tourism and accommodation is relatively lagging behind, and there are potential risks in some fields to varying degrees. " Yuan Da said.

"In the next step, we will thoroughly implement the decisions and arrangements made by the CPC Central Committee and the State Council, closely track and analyze the changes in domestic and foreign situations, coordinate the economic operation in the second half of this year and next year, implement macro-control scientifically and accurately, maintain the continuity, stability and sustainability of macro policies, continuously deepen the structural reform of the supply side, and strive to expand effective domestic demand, We will vigorously support the development of the real economy, unswervingly promote reform and opening up, and further strengthen the basic livelihood guarantee. In particular, we will take effective measures in a timely manner to ensure the smooth operation of the economy within a reasonable range Yuan Da said that with the detailed implementation of various policies and the further effects, "we are fully confident, capable and qualified to achieve the annual economic and social development goals and tasks."

(source: China News Network)

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