During the January-June period of 2025, China’s gross domestic product (GDP) hit 66053.6 billion yuan, showing a year-on-year increase of 5.3% in fixed-price terms, according to the data released by the National Bureau of Statistics (NBS). The nation’s economy showed an overall-stable and promising performance though facing stress and difficulties.
On a year-on-year basis, the nation’s GDP grew by 5.4% in the first quarter, and 5.2% in the second quarter. On a quarterly basis, the GDP recorded a rise of 1.1% in the second quarter, expressed by the deputy director of the NBS.
This summer boasted a good harvest. The equipment manufacturing industry and high-tech manufacturing industry remained great growth momentum. The services industry accelerated to expand. During the first half of this year, the added value of the agricultural (crop planting) industry increased by 3.7% year on year. The nation yielded 149.74 million tons of grains in the summer. The nation’s value-added industrial output expanded by 6.4% year on year. Specifically, the added value of the equipment manufacturing industry surged year on year by 10.2%, while the added value of the high-tech manufacturing industry grew year on year by 9.5%. The services industry recorded year-on-year growth of 5.5% in the added value, at a speed 0.2% higher than that of the first quarter alone.
The market sales returned to rapid growth, while the fixed-asset investment expanded continuously. During the first 6 months, the total retail sales of consumer goods reached 24545.8 billion yuan, marking year-on-year growth of 5%, which was 0.4% up from that of the first quarter alone. The nation’s fixed-asset investment (excluding the items on agricultural production) went up 2.8% year on year to 24865.4 billion yuan during the same period; and 6.6% excluding the items on the property.
The goods imports and exports continued expanding, with continued improvement in the trading structure. During the first half of this year, the nation’s total goods imports and exports hit 21787.6 billion yuan, presenting a year-on-year increase of 2.9%. The imports and exports in the private sector grew by 7.3%, accounting for 57.3% of the total imports and exports, up 2.3% from the same period of the previous year.
The consumer price and the employment showed overall stability. During the January-June period, the nation’s consumer price index (CPI) declined by 0.1% on a year-on-year basis; but surged year on year by 0.4% excluding the items on foods and energy. The unemployment rate during the same period averaged 5.2%, down 0.1% from that of the first quarter alone.
The resident income increased steadily. From January to June of this year, the nation’s per capita disposable income reached 21840 yuan, representing a year-on-year increase of 5.3% in nominal terms and of 5.4% in price-factor-excluded terms.
Reference: xinhuanet
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