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The Chinese economy is witnessing rapid growth

The Chinese economy is witnessing rapid growth

In July, many planes were loaded with prune crisp products

Which is produced in Wushan, Chongqing Municipality,

These planes land at airports in major cities such as Beijing, Shanghai, Guangzhou and Shenzhen.

From one flight per day last year to two flights per day this year,

The flight operating period extended from 15 days last year to 20 days this year.

This not only reflects the increased marketing of this product, which is witnessing increasing local demand, but

But it also reflects the positive trend and overall recovery of China's economic cycle.

The National Bureau of Statistics recently released the semi-annual report on China's economy. In light of the volatile and complex external environment,

The first quarter got off to a good start, and the recovery trend continued in the second quarter.

GDP increased in the first half of the year by 5.5% on an annual basis.

China's economic cycle also continued to recover and improve, showing great flexibility in development. This indicates that China has the ability to challenge and overcome all risks.

To understand the Chinese economy, we should not only pay attention to the growth rate, but also analyze the structure and quality. In terms of growth rate,

The economic growth rate in the first half of the year was 3% faster than in all of last year,

It is 4.5% faster compared to the first quarter and the economic recovery trend is very clear.

In terms of economic structure, we see that the added value of the service industry represented 56% of GDP in the first half of the year,

The contribution rate of final consumer spending to economic growth reached 77.2%, and the investment growth rate rose clearly.

As for the technical industries, it was much faster than the growth rate of total investment, as the investment structure is constantly improving.

In terms of quality, high-tech industries have grown well, and the growth of new industries has become stronger,

As new business forms continue to improve, the coordinated development of green transformation and economic growth is constantly showing good results.

In general, the quarterly growth rate has increased for four consecutive quarters, and the market vitality has been continuously released.

All of this shows that the foundation of China's economic stability has been continuously strengthened, the momentum of progress is accelerating, and high-quality development is constantly improving.

To understand China's economy, we must observe it from a global perspective.

In the first quarter of this year, year-on-year GDP growth rates for the United States, the Eurozone and Japan were less than 2%.

Even considering the situation in the second quarter, China's economic growth rate in the first half of this year remained the fastest among major economies.

Against the backdrop of insufficient growth momentum of the global economy, high inflationary pressures and slowdown in global trade growth,

The Chinese economy has achieved a positive recovery and stability in the financial system and prices, which has not been easy.

Recently, the World Bank, the OECD and many other international organizations and institutions raised their forecasts for China's economic growth this year,

This demonstrates the international community's confidence in China's economic development prospects.

Companies are the ones who directly sense the development of the economy.

To understand China's economy, the movements of foreign-funded companies in China can be monitored.

Since the beginning of this year, Tesla has established a second factory to manufacture its Megapack batteries in the new district of Linggang in Shanghai.

Airbus also announced the construction of a second production line in Tianjin, and pharmaceutical company AstraZeneca signed an investment cooperation agreement with the National High-Technological Industrial Development Zone in Qingdao, Shandong Province.

This is evidence that many foreign-funded companies have expressed their confidence in China's economic development prospects through practical measures.

On the other hand, this also shows that the Chinese market has a bright future and remains the main driver of global economic growth.

تظهر الصورة الملتقطة في 27 يوليو 2023، بعض العمال وهم يقومون بتجميع مجموعة من قطع غيار مروحة لإحدى توربينة الرياح في ورشة إنتاج لمؤسسة في منطقة التنمية الاقتصادية والتكنولوجية ليان يونقانغ بمقاطعة جيانغسو. جينغ يويخه / صورة الشعب

A photo taken on July 27, 2023 shows some workers assembling a batch of fan spare parts for a wind turbine in the production workshop of an enterprise in the Lian Yungang Economic and Technological Development Zone of Jiangsu Province. Jing Yuehe

17 يوليو 2023، وصول ثاني طائرة ركاب كبيرة من طراز C919 صينية الصنع إلى مطار يانغتشو- تاي تشو الدولي. يو شينغ / صورة الشعب

July 17, 2023 The second Chinese-made C919 large passenger aircraft arrives at Yangzhou-Tai Chu International Airport. Yu Xing



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