National Bureau of Statistics: The national economy maintained an overall stable and positive development trend from January to July
The Zhitong Finance App learned that on August 17, the National Bureau of Statistics issued an article stating that in January-July, the national consumer price (CPI) rose 0.9% year on year. From January to July, the ex-factory prices of industrial producers across the country rose 1.8% year on year. Among them, the year-on-year increase in July was 3.5%, and the month-on-month decrease was 0.7%. From January to July, the purchase price of industrial producers across the country rose 2.8% year on year. Among them, the year-on-year increase in July was 5.5%, and the month-on-month decrease was 1.0%. Overall, the national economy was running smoothly from January to July, maintaining a trend of positive and positive development. However, it is also important to note that the external environment is complex and changing, the contradictions between strong domestic supply and demand are prominent, some enterprises are difficult to operate, and the foundation for economic stability and improvement still needs to be consolidated.
The original text is as follows:
From January to July, the national economy maintained an overall stable and positive development trend
From January to July, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core, departments in all regions earnestly implemented the decisions and arrangements of the Party Central Committee and the State Council, adhered to the general tone of steady progress, effectively dealt with various external shocks and internal difficulties, and focused on implementing more active and promising macroeconomic policies to solidly promote high-quality development, steady growth in production and supply, overall stability in employment prices, and continued to show resilience in foreign trade. The new momentum grew and expanded, and the national economy was generally running smoothly, continuing the momentum towards new and structural improvements.
1. Industrial production is growing rapidly, and the equipment manufacturing industry and high-tech manufacturing industry are growing well
From January to July, the value added of industries above the national scale increased by 5.3% year-on-year. Looking at the three major categories, the value added of the mining industry increased by 2.5% year on year, the manufacturing industry grew by 5.6%, and the production and supply of electricity, heat, gas and water increased by 5.4%. The value added of the equipment manufacturing industry increased by 9.7% year on year, and the value added of the high-tech manufacturing industry increased by 13.8%, faster than the value added of industries of all sizes by 4.4 and 8.5 percentage points, respectively. By economic type, the value added of state-owned enterprises increased by 3.9% year on year; joint-stock enterprises increased 5.8%; foreign-invested enterprises, Hong Kong, Macao and Taiwan grew by 3.1%; and private enterprises increased 4.5%. By product, production of 3D printing equipment, lithium-ion batteries, and industrial robot products increased by 52.3%, 40.2%, and 28.5%, respectively, year-on-year. In July, the value added of industries above the national scale increased 4.5% year-on-year and 0.11% month-on-month. In July, the manufacturing purchasing managers' index was 49.2%, and the expected index of enterprise production and operation activity was 54.1%. From January to June, industrial enterprises above the national scale achieved a total profit of 3948 billion yuan, an increase of 18.7% over the previous year.
2. The service industry is growing steadily, and the modern service industry is developing well
From January to July, the national service industry production index increased 4.7% year on year. By industry, production indices for information transmission, software and information technology services, leasing and business services, finance, transportation, warehousing, and postal services increased by 10.6%, 9.5%, 6.3%, and 5.1%, respectively. In July, the national service industry production index increased 4.3% year on year. In July, the index of business activity in the service sector was 49.3%, and the expected index of business activity in the service sector was 56.0%. Among them, the index of business activity in the postal service, telecommunications, radio, television and satellite transmission services, culture, sports and entertainment industries is in a high boom range of over 55.0%. From January to June, the revenue of large-scale service enterprises increased 5.9% year-on-year.
3. The scale of market sales has expanded, and retail sales of services is growing faster
From January to July, total retail sales of consumer goods and services increased 2.6% year-on-year, with retail sales of services increasing by 5.0% and retail sales of goods by 1.1%. Among retail sales of services, retail sales of communication and information services, travel consulting and rental services, and cultural, sports and leisure services are growing rapidly. From January to July, total retail sales of consumer goods amounted to 28774.4 billion yuan, an increase of 1.2% over the previous year. According to the location of the business unit, retail sales of urban consumer goods amounted to 24928.5 billion yuan, an increase of 1.1% over the previous year; retail sales of rural consumer goods amounted to 3845.9 billion yuan, an increase of 2.4%. By type of consumption, retail sales of goods were 25492.2 billion yuan, up 1.1% year on year; food and beverage revenue was 3282.2 billion yuan, an increase of 2.6%. Sales of basic lifestyle products and some upgraded products grew rapidly. Retail sales of grain, oil, food, communication equipment, and cosmetics products per unit above the limit increased by 7.2%, 15.1%, and 6.3%, respectively. In July, total retail sales of consumer goods amounted to 390.2.2 billion yuan, up 0.6% year on year and 0.06% month on month. From January to July, retail sales of online goods and services nationwide reached 11721.4 billion yuan, an increase of 4.8% over the previous year. Among them, retail sales of online products amounted to 7396.5 billion yuan, an increase of 4.6%; retail sales of online services amounted to 4324.9 billion yuan, an increase of 5.2%.
4. Investment in fixed assets declined, and investment in intellectual property products grew rapidly
From January to July, the country's fixed asset investment (excluding rural households) was 26,32.8 billion yuan, a year-on-year decrease of 6.7%; fixed asset investment after deducting real estate development fell 3.7%. Among them, investment in intellectual property products increased 9.1% year over year. By sector, investment in infrastructure fell 3.6% year on year, investment in manufacturing fell 1.7%, and investment in real estate development fell 19.2%. The sales area of newly built commercial housing nationwide was 45.21 million square meters, a year-on-year decrease of 11.8%; sales of newly built commercial housing amounted to 4271.8 billion yuan, a decrease of 13.1%. By industry, investment in the primary sector decreased by 0.5% year on year, investment in the secondary sector decreased by 2.1%, and investment in the tertiary sector decreased by 9.5%. Private investment fell 9.4% year on year; private investment after deducting real estate development fell 5.7%. Investment in high-tech industries increased by 5.0% year on year. Among them, investment in information services, aviation, spacecraft and equipment manufacturing, and electronics and communication equipment manufacturing increased by 19.2%, 12.3%, and 7.1%, respectively. In July, fixed asset investment (excluding rural households) fell 1.42% month-on-month.
5. Import and export of goods are growing rapidly, and the trade structure continues to be optimized
From January to July, the total import and export volume of goods was 30126.4 billion yuan, an increase of 17.3% over the previous year. Among them, exports amounted to 174.4 billion yuan, an increase of 14.0%; imports amounted to 12686.4 billion yuan, an increase of 22.0%. From January to July, general trade imports and exports increased 10.2% year-on-year. Imports and exports to the joint “Belt and Road” countries increased by 15.5%. Private enterprise imports and exports increased by 17.2%, accounting for 56.9% of total imports and exports. Exports of mechanical and electrical products increased by 21.2%, accounting for 63.8% of total exports. In July, the total import and export volume of goods was 465.8 billion yuan, an increase of 19.2% over the previous year. Among them, exports amounted to 2712.5 billion yuan, an increase of 17.8%; imports amounted to 194.54 billion yuan, an increase of 21.2%.
6. The employment situation is generally stable, and the urban survey unemployment rate rises seasonally
From January to July, the average unemployment rate in the national urban survey was 5.2%, the same as in January-June and the same period last year. In July, the unemployment rate in the national urban survey was 5.2 percent, up 0.2 percentage points from the previous month. The unemployment rate in the local household registration labor force survey was 5.2%; the unemployment rate in the foreign household registration labor survey was 5.2%, of which the unemployment rate in the foreign agricultural household registration labor survey was 4.9%. The unemployment rate in the urban survey of 31 major cities was 5.2 percent, up 0.2 percentage points from the previous month. The average weekly working hours of employees in enterprises across the country are 48.2 hours.
7. Market prices rose moderately, and the increase in July declined somewhat
From January to July, the national consumer price (CPI) rose 0.9% year on year. By category, prices of food, tobacco, and food and drink fell 0.2% year on year, clothing prices rose 1.6%, housing prices fell 0.2%, household goods and services prices rose 1.7%, transportation and communication prices rose 1.6%, education, culture and entertainment prices rose 1.2%, healthcare prices rose 2.1%, and prices of other goods and services rose 10.8%. Among food, tobacco, alcohol, and food and beverage prices, pork prices fell 13.4%, food prices fell 0.3%, fresh fruit prices rose 1.1%, and fresh vegetables increased 3.5%. In July, consumer prices across the country rose 0.5% year on year and fell 0.1% month on month. From January to July, the core CPI after deducting food and energy prices rose 1.1% year over year. Among them, the core CPI rose 0.9% year on year in July.
From January to July, the ex-factory prices of industrial producers across the country rose 1.8% year on year. Among them, the year-on-year increase in July was 3.5%, and the month-on-month decrease was 0.7%. From January to July, the purchase price of industrial producers across the country rose 2.8% year on year. Among them, the year-on-year increase in July was 5.5%, and the month-on-month decrease was 1.0%.
Overall, the national economy was running smoothly from January to July, maintaining a trend of positive and positive development. However, it is also important to note that the external environment is complex and changing, the contradictions between strong domestic supply and demand are prominent, some enterprises are difficult to operate, and the foundation for economic stability and improvement still needs to be consolidated. In the next stage, we must adhere to Xi Jinping's ideology of socialism with Chinese characteristics in the new era, adhere to the general tone of steady progress, fully and accurately implement the new development concept, accelerate the construction of a new development pattern, insist on deepening reform and opening-up, accelerate the transformation of old and new kinetic energy, increase countercyclical adjustment efforts, increase efforts to expand domestic demand, optimize supply, effectively safeguard and improve people's livelihood, enhance development momentum, stimulate social vitality, and promote the continuous development of the economy in a new direction.
This article was edited by the National Bureau of Statistics, Zhitong Finance Editor: Chen Wenfang.