China's economic and social development achievements have been forged through overcoming numerous challenges and obstacles.
The nation is fully capable of achieving its annual development targets and will continue to provide stability, growth, and hope to a turbulent world.
In the first half of the year, China's Gross Domestic Product (GDP) reached 69.57 trillion yuan, representing a year-on-year growth of 4.7% at constant prices.
This growth rate aligns with the annual economic growth target and, compared to the first half of last year, the GDP increment of 3.6 trillion yuan marks the largest increase for the same period in nearly five years.
This achievement is particularly significant given the severe impact of Middle East geopolitical conflicts on the global economy.
For a super-large economy like China, maintaining a steady and predictable pace to achieve set goals is no small feat and is highly commendable.
Assessing the underlying strength of a major economy first involves observing its ability to remain composed in the face of sudden shocks.
The most significant variable in the international situation this year has been the Middle East conflict that began in late February and continues to this day.
This conflict has driven up oil prices, disrupted markets, and triggered energy supply warnings in many countries.
However, international opinion, including that from many US and European media outlets, has reached a broadly similar conclusion: China's domestic energy supply has been relatively less affected, while its exports of new energy products have surged, providing urgently needed solutions for countries seeking rapid transformation amidst conflict and instability.
Furthermore, recent heatwaves in Europe have led to Chinese cooling products selling out locally, with some media dubbing this "cold power."
These scenarios, combined with economic data, paint a comprehensive picture of the Chinese economy.
The foreign trade data released on July 14 is also noteworthy.
In the first half of the year, China's imports grew by 22.1%, outpacing export growth by 8.7 percentage points, contributing more to foreign trade growth than exports.
Imports from over 150 countries and regions saw growth.
This fully demonstrates that, as the world's top manufacturing nation and second-largest consumer market, China's market is vast and holds immense potential.
The more stable the Chinese economy, the lower the risk of global supply chain disruptions; the more open the Chinese market, the more development opportunities the world receives.
Examining this mid-year economic report, beyond the characteristics of "stability" and "resilience," the traits of "newness" and "excellence" are increasingly prominent, becoming highlights of China's high-quality economic development.
The contribution rate of new growth drivers exceeds 40%, traditional industries are accelerating their transformation and upgrading, and the value-added of high-tech manufacturing above a designated size grew by 13.3% year-on-year.
Industries related to artificial intelligence (AI), such as integrated circuit manufacturing and smart vehicle equipment manufacturing, maintained high growth rates exceeding 30%.
Behind these figures is the accelerated translation of new quality productive forces from concept to reality.
From intelligent driving and AI-assisted healthcare to humanoid robots entering the service industry and AI empowering government applications for public services, all reflect the value core of China's economy: "investing in people."
Moreover, China's consumption formats are becoming increasingly diverse and refined.
In Shenzhen, "Tech Tours" featuring experiences like drones and autonomous taxis are attracting a growing number of international tourists.
In Chengdu, the "grain economy" is flourishing, catering to the personalized and trendy consumption demands of younger groups.
In Dali and Altay, "short dramas + cultural tourism" are achieving mutual success.
Simultaneously, the consumption potential of lower-tier markets should not be underestimated, with various chain brands and trendy flagship stores entering county towns.
The recently released "15th Five-Year Plan for Expanding Consumption" clearly positions service consumption in areas like elderly care, childcare, cultural tourism, and health as priorities, opening up new possibilities for China's consumption growth.
It must be acknowledged that economic growth slowed in the second quarter.
Some Western media have focused on the 4.3% growth rate, suggesting a significant slowdown from the 5.0% growth in the first quarter and using this to support preconceived pessimistic conclusions.
However, this situation is global in nature.
According to projections by international institutions, the growth rates of almost all major economies slowed to varying degrees in the second quarter.
Recently, the International Monetary Fund lowered its global growth forecast but raised its forecast for China's growth by 0.2 percentage points to 4.6%.
This contrast—one lowered, one raised—speaks volumes.
On the other hand, the slowdown in the second quarter also serves as a reminder that navigating economic headwinds is not easy for China; it is fraught with difficulties and challenges, navigating through turbulent waters.
However, China's economic and social development miracle was itself forged by overcoming such difficulties and obstacles.
By persistently and effectively integrating its vast market, complete industrial system, talent resources, and innovation capabilities, China is not only fully equipped to achieve its annual development goals but will also continue to provide stability, growth, and hope to a volatile world.
The year 2026 marks the beginning of the 15th Five-Year Plan period.
The mid-year report is both a performance review and a call to action.
The giant ship of the Chinese economy has never feared storms, consistently using steady growth, an open posture, and continuous innovation to hedge against global uncertainty.
We have every reason to be confident and assured in our ability to stabilize the growth trajectory, unleash developmental momentum, and write an even more impressive second chapter in achieving the annual economic and social development goals.
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