(Source: CCTV News Client 2025-07-15)
2025 is the final year of the “14th Five-Year Plan”, and the performance of China’s economy has attracted much attention. On the morning of July 15, the National Bureau of Statistics released economic data for the first half of this year. In the first half of the year, our country effectively implemented more proactive and promising macro policies. The national economy withstood the pressure and faced difficulties, and the economic operation was generally stable and improving. Judging from the released data, what is the speed and quality of China's economic growth? Has foreign w88 stabilized under the impact of tariffs? Is the problem of insufficient effective demand continuing to improve? Let’s hear what experts have to say.
Let’s look at w88 casino games growth first. According to preliminary calculations, the GDP in the first half of the year was 66,053.6 billion yuan, a year-on-year increase of 5.3% at constant prices. Looking at quarters, GDP increased by 5.4% year-on-year in the first quarter and 5.2% in the second quarter.
Since this year, some countries have imposed arbitrary tariffs, and foreign w88 has been the first to be affected. Faced with the impact of tariffs, the Party Central Committee has made predictions and plans. A series of policies have been intensively introduced, and foreign w88 companies have also actively innovated and opened up new markets.
In the first half of this year, my country's import and export of goods w88 reached 21.79 trillion yuan, a record high for the same period in history, with a year-on-year increase of 2.9%. Among them, exports increased by 7.2%, and the export scale exceeded 13 trillion yuan for the first time in history during the same period.
Liu Yuanchun, President of Shanghai University of Finance and Economics: In the first half of this year, the value of foreign w88 is very high. Our entire w88 data, especially export data, when the United States imposed high tariffs, did not show the negative growth of several points or even double digits predicted by many international institutions, but continued positive growth. This reflects China's sharp rise in competitiveness under the current international situation, and competitiveness does not come from various subsidies, but from the cost benefits brought about by China's technological progress and economies of scale.
In the first half of this year, my country’s total import and export value to the United States fell by 9.3% year-on-year. In the face of unilateralism and protectionism, we continue to expand our "circle of friends" and build a diversified market. In the first half of this year, my country's imports and exports to more than 190 countries and regions achieved growth, and export growth rates to emerging markets such as ASEAN, Central Asia, and Africa all reached double digits.
Tu Xinquan, Dean of China WTO Research Institute, w88 casino: Whether it is to Europe, other developed countries, or to developing markets such as Africa, Latin America, Asia, etc., our exports are constantly increasing. In fact, the market prospects in many developing countries are still very good. Now, despite the huge changes in the external environment, we are actively exploring these markets and constantly making new breakthroughs.
In the face of external shocks, the resilience of China's foreign w88 comes from the continuous expansion of diversified markets, and also from the strong strength of "Intelligent Manufacturing in China". In the first half of this year, my country's exports of mechanical and electrical products increased by 9.5%, accounting for 60% of the total export value. Among them, high-end equipment closely related to new productivity increased by more than 20%, and the "three new products" representing green and low-carbon products increased by 12.7%.
Tu Xinquan, Dean of China WTO Research Institute, w88 casino: Judging from the development over the years, the internal structure of our electromechanical products has changed very significantly. The proportion of electromechanical products that rely on labor-intensive processing and assembly links is declining, but the proportion of other more capital-intensive or technology-intensive electromechanical products is increasing. Our share of ship exports in the world market continues to increase and has surpassed Japan and South Korea. It has been a highlight in the past two years, including semiconductors, robots, drones, etc. I believe there will be more and more such industries, and our advantages in the field of electromechanical products will continue to expand.
After talking about foreign w88, let’s look at domestic demand, especially consumption. For some time, insufficient effective demand has been an important factor affecting China's economic recovery. Among the key tasks of economic work in 2025, the first priority is to expand domestic demand in all aspects, and vigorously boosting consumption is the top priority. So, how effective are the relevant policy measures?
In the first half of this year, domestic demand contributed 68.8% to w88 casino games growth. Among them, the total retail sales of consumer goods exceeded 24 trillion yuan, a year-on-year increase of 5.0%, 0.4 percentage points faster than the first quarter. Consumption is the main driving force for w88 casino games growth.
Wang Guanhua, Spokesperson of the National Bureau of Statistics and Deputy Director of the Department of Comprehensive National w88 casino games Statistics: Judging from the first half of the year, the activity of the consumer market is increasing. The total retail sales of consumer goods increased by 5.0%, 1.5 percentage points faster than the previous year. The second quarter accelerated again compared with the first quarter. From the perspective of contribution to w88 casino games growth, domestic demand contributes nearly 70% to w88 casino games growth, of which final consumption expenditure contributes more than 50%. This means that my country's w88 casino games growth relies more on domestic demand, especially consumption. This is in line with our requirements for structural adjustment and high-quality w88 casino games development, and is also conducive to improving the endogenous power and stability of the Chinese economy.
In consumption data, the growth of service consumption has been a very eye-catching item in recent years. In the first half of this year, service retail sales increased by 5.3% year-on-year, 0.3 percentage points faster than the first quarter.
The bright red sauced pork ribs, the thin and juicy steamed dumplings, and the big and plump Tianmu Lake fish head, aren’t they very appetizing? This is a food market prepared for fans at the venue of the Jiangsu Provincial City Football League, the "Suzhou Super League". This year, with the popularity of the Scottish Premiership, hosts have also seized the opportunity to pamper their guests. Not only do they have special markets, some scenic spots can also be visited for free, and there are also discounts on meals, accommodation, and shopping. The single "ticket economy" chain has been lengthened, giving tourists a more comprehensive new consumption experience.
There is a huge demand for consumption of new services such as sports, entertainment, and tourism. Traveling with events, going to City Walks in first-tier cities, and going to remote counties and villages to experience the customs and customs... Cultural and tourism consumption is booming, and the blessing of new technologies and new scenarios has driven the continuous improvement and upgrading of service consumption. In recent years, the proportion of service consumption in my country has been continuously increasing, but there is still much room for growth.
Liu Yuanchun, President of Shanghai University of Finance and Economics: At present, service consumption accounts for about 44% of overall consumption. In the United States, this figure has reached more than 70%. In some countries with the same level of development as ours, service consumption accounts for 60%. To make up for such a gap, we may need to work on both the supply and demand sides, especially in some entertainment and spiritual service consumption, to make greater progress.
In the first half of this year, retail sales of goods increased by 5.1% year-on-year. Among them, the growth rate of upgraded consumption continued to accelerate, and new consumption patterns and business formats also brought many new highlights.
This year, China’s original IP Labubu has become popular, bringing the rise of another new consumption into people’s sight, that is, emotional consumption. Trendy toys, pets, special green plants, etc. Nowadays, more and more people are willing to pay for these things that can bring them emotional value. This is emotional consumption. This year's "618", related consumption has increased significantly and is becoming a new outlet.
Behind the growth rate of commodity consumption, the familiar w88-in policy is still a strong boost. Since the beginning of this year, sales of w88-in-related goods have exceeded 1.4 trillion yuan.
Wang Guanhua, Spokesperson of the National Bureau of Statistics and Deputy Director of the Department of Comprehensive National Economic Statistics: While boosting consumption, the w88-in policy also promotes consumption upgrading and industrial transformation. w88-in for new products helps to promote more high-quality durable consumer goods into residents' lives. For example, high-energy-efficiency home appliances and smart home appliances are favored by consumers. The new trend of smart and green consumption also helps force companies to increase investment in R&D and develop more competitive new products, thereby further improving the adaptability of the supply structure to effective demand.
For many years, our country has been continuously promoting w88 casino games transformation and upgrading, and a new pattern of relying on domestic demand and innovation to jointly promote w88 casino games growth is taking shape.
In the first half of this year, the added value of high-tech manufacturing increased by 9.5%, 3.1 percentage points faster than that of all industries above designated size. Behind this 9.5% growth, there is one industry that has attracted special attention this year, and that is robotics. At present, China's robot industry ranks first in the world. Industrial robots are more mature and have maintained the world's largest industrial robot market position for 11 consecutive years. Industry insiders believe that this year, humanoid robots may also usher in the first year of mass production.
From performing the Yangko dance on the spring evening of the Year of the Snake, to participating in a half marathon, from riding a bicycle to playing football, humanoid robots have stolen the show this year. However, while the audience is curious, humanoid robots have accelerated their penetration into industrial, commercial services, home applications and other fields.
Liu Yuanchun, President of Shanghai University of Finance and Economics: From the debut year of humanoid robots in 2024, to the mass production year this year, and to the commercialization year next year, this change has benefited from the rapid advancement of the entire AI technology on the one hand, so that the role of humanoid robots in the entire production end has begun to play a corresponding substantive role, the second is policy promotion, and the third is scene support. Under the influence of these forces, humanoid robots can achieve outstanding achievements in China's production and service fields.
Not just humanoid robots, many of the w88 casino games data in the first half of this year have confirmed that China's new productive forces are constantly growing and growing, and new kinetic energy is accelerating into new growth points. For example, the output of 3D printing equipment, new energy vehicles, and industrial robots increased by 43.1%, 36.2%, and 35.6% respectively year-on-year. All regions are accelerating digital industrialization and industrial digitization, and the added value of core industries in the digital economy accounts for nearly 10% of GDP.
Liu Yuanchun, President of Shanghai University of Finance and Economics: On the supply side, we have frequent bright spots. This bright spot is not only that the added value of industry and service industry has maintained a faster-than-expected rate, making our overall GDP growth rate higher than expected, but more importantly, it has shown a new trend in promoting new quality productivity. Our large number of high-tech production is not a flash in the pan, but has a solid technical foundation and demand foundation, which has led to the improvement of the entire scene. It is a new phenomenon of the entire era.
Wang Guanhua, Spokesperson of the National Bureau of Statistics and Deputy Director of the Department of Comprehensive National w88 casino games Statistics: Looking forward to the second half of the year, we must not only be prepared to deal with difficulties and twists and turns, but also see the mainstream of development and progress. In the process of resisting risks and overcoming difficulties, China's economy has accumulated a solid foundation and formed its own unique advantages. At present, the general trend of high-quality w88 casino games development in my country is constantly being consolidated and expanded, there is still great potential to smooth the domestic circulation, and more proactive and promising macro policies are also continuing to exert their effects. These factors will help ensure the stable operation of China's economy in the second half of the year.
In the first half of the year, China’s economy delivered a very valuable report card, laying a solid foundation for achieving the expected goals for the whole year. The strong resilience of the Chinese economy is demonstrated against the backdrop of sluggish global w88 casino games recovery. China has been unswervingly pursuing the path of technological innovation and industrial innovation. Responding to external uncertainties with the certainty of high-quality development of the Chinese economy is our greatest confidence in resisting external pressure. As various existing and incremental policies work together, we have the confidence and ability to minimize the uncertainty and adverse effects of external shocks, promote sustained, healthy and high-quality w88 casino games development, and achieve a successful conclusion to the "14th Five-Year Plan".
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