National Economy in the First Half Year Witnessed the Steady and Sound Growth Momentum Consolidated

Source: National Bureau of Statistics of China / Updated: 2021-07-30
In the first half year, faced with complicated and changing environment both at home and abroad, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, continued to consolidate and expand the achievements made in the epidemic prevention and control and the economic and social development, and implemented accurate macro policies. China’s economy sustained a steady recovery with the production and demand picking up, employment and prices remaining stable, new driving forces thriving fast, quality and efficiency enhancing, market expectations improving and major macro indicators staying within reasonable range. The national economy witnessed the steady and sound growth momentum consolidated.
 
According to the preliminary estimates, the gross domestic product (GDP) of China in the first half year was 53,216.7 billion yuan, a year-on-year increase of 12.7 percent at comparable prices, 5.6 percentage points lower than that of the first quarter; and the average two-year growth was 5.3 percent, 0.3 percentage points faster than that of the first quarter. By quarter, the year-on-year GDP growth for the first quarter was 18.3 percent, with an average two-year growth of 5.0 percent; for the second quarter 7.9 percent, with an average two-year growth of 5.5 percent. By industry, in the first half year, the value added of the primary industry was 2,840.2 billion yuan, a year-on-year growth of 7.8 percent, with an average two-year growth of 4.3 percent; the secondary industry 20,715.4 billion yuan, a year-on-year growth of 14.8 percent, with an average two-year growth of 6.1 percent; and the tertiary industry  29,661.1 billion yuan, a year-on-year growth of 11.8 percent, with an average two-year growth of 4.9 percent. The quarter-on-quarter GDP growth of the second quarter was 1.3 percent.