China's GDP Grew by 6.3% Year-On-Year in The Second Quarter

Chinas GDP grew by 5.5% year-on-year in the first half of the year, and 6.3% in the second quarter.

On July 17, data from the National Bureau of Statistics showed that in the first half of this year, the gross domestic product (GDP) was 59,303.4 billion yuan, a year-on-year increase of 5.5%, 1.0 percentage points faster than the first quarter.

In terms of industries, the added value of the primary industry was 3,041.6 billion yuan, a year-on-year increase of 3.7%; the added value of the secondary industry was 23,068.2 billion yuan, an increase of 4.3%; the added value of the tertiary industry was 33,193.7 billion yuan, an increase of 6.4%. In terms of quarters, the GDP grew by 4.5% year-on-year in the first quarter and by 6.3% in the second quarter. On a quarter-on-quarter basis, GDP grew by 0.8% in the second quarter.

In a press conference held on July 17, the National Bureau of Statistics stated:

On the whole, in the first half of the year, Chinas economy as a whole showed a positive trend of recovery. From the perspective of the economic operation of various countries, after the transition period of epidemic prevention and control, the overall economic operation of various countries has experienced accelerated growth. However, due to different national conditions, different development stages, and the relationship between the entire international environment, each country There is a big difference in the acceleration rate.

From the perspective of my countrys situation, after the economy and society fully resumed normal operation this year, production demand has steadily recovered, and the consumption and service industries that were greatly affected by the epidemic in the early stage have accelerated significantly, and their role in driving economic growth has increased. The overall stability of industry and agriculture has provided strong support for economic recovery. In general, the economic operation is gradually getting rid of the impact of the epidemic and returning to the normal growth track. In the first half of the year, the GDP increased by 5.5% year-on-year, and in the second quarter by 6.3%. The growth rate of 5.5% is significantly faster than the 3% economic growth rate of the previous year, and also faster than the three-year average annual growth rate of 4.5% during the epidemic. The recovery of economic growth is relatively obvious. The economic growth rate of 5.5% in the first half of the year is a relatively high rate of gold content.

Judging from the situation in the next stage, although the external environment is becoming more complex and severe, and the domestic economic development is also facing pressure, the fundamentals of my countrys long-term economic growth have not changed, and the characteristics of strong resilience, great potential, and sufficient vitality have not changed, supporting high-quality development. conditions have not changed. With the accumulation of positive factors promoting development, the economy is expected to continue to recover.