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On July 15, the National Bureau of Statistics released the "semi-annual report" on China's economy. In the first half of the year, China's gross domestic product (GDP) increased by 5.0% year-on-year, total import and export of goods increased by 6.1% year-on-year, the added value of industries above designated size increased by 6.0% year-on-year, and national fixed asset investment increased by 3.9% year-on-year. This year is a critical year for achieving the goals and tasks of the "14th Five-Year Plan". Overall, the national economy continued to recover in the first half of the year, with overall stability and progress, new momentum accelerating growth, and high-quality development making new progress.

"The target of around 5% can be achieved with hard work" and "China is still the largest contributor to global economic growth"... From the Boao Forum for Asia Annual Meeting in March to the Summer Davos Forum in June, we are optimistic about China's economic prospects. External demand continues to improve.

Since the beginning of this year, China's economic fundamentals have remained stable. While maintaining stable employment and prices, and operating smoothly, external demand has improved.
In the first half of the year, China's total import and export of goods increased by 6.1% year-on-year, and foreign exchange reserves stabilized at more than US$3.2 trillion. Among them, foreign trade increased by 7.4% year-on-year in the second quarter, an increase of 2.5 and 5.7 percentage points from the first quarter and the fourth quarter of last year respectively. The quarterly trend continued to improve. In dollar terms, the total value of imports and exports in the first half of the year was US$2.98 trillion, a year-on-year increase of 2.9%. Exports and imports increased by 3.6% and 2% respectively year-on-year. The trade surplus expanded by 8.6%, and it performed outstandingly among the world's major economies. Among them, in dollar terms, exports expanded to the highest level in the past two years for the third consecutive month in June, demonstrating the full motivation of being one of the "troika"; the trade surplus reached US$99.95 billion, the highest level since 1990.

The improvement in external demand is due not only to the recovery trend of global trade, but also to China's policy of continuing to expand opening up.

In particular, countries jointly building the Belt and Road Initiative continue to be the main source of growth for my foreign trade. In the first half of the year, total imports and exports increased by 7.2%, reflecting my increasingly close trade exchanges with emerging markets. Accelerate the cultivation of new productive forces.

In the first half of the year, investment in China's high-tech industries increased by 10.6% year-on-year, 6.7 percentage points faster than total investment; the added value of high-tech manufacturing above designated size increased by 8.7% year-on-year; the proportion of non-fossil energy consumption in total energy consumption increased year-on-year. 1.9 percentage points; online retail sales of physical goods increased by 8.8% year-on-year...

These indicators show that China's economic structure is continuously optimized, new driving forces are accelerated and cultivated, and new quality productivity has been significantly enhanced. Made in China to transform momentum. In the first half of the year, China's manufacturing industry shifted significantly from "new" to "green", and investment growth accelerated significantly, leading the three major investment sectors.

Data shows that in the first half of the year, the added value of high-tech manufacturing industries above designated size accounted for 15.8% of the added value of industries above designated size, an increase of 0.6 percentage points from the first quarter; smart new products such as integrated circuits and service robots performed well, and their output remained in double digits. Growth has accumulated new momentum for economic development. Robotic arms replace traditional workers, the textile industry is equipped with "smart brains", and drone distribution brings new consumption experiences... At present, there are 463,000 high-tech enterprises in China, and the installed capacity of industrial robots accounts for more than 50% of the world. The industrial Internet has achieved full coverage of all categories, and the digital economy has spawned more new growth points.

Green industries improve quality and efficiency. "Many of the current progress in the solar panel field has benefited from China's efforts to reduce costs. The same is true for electric vehicles."

Recently, Amin Nasser, CEO of Saudi Aramco, one of the world's largest oil companies, said at the 26th World Energy Congress that the development of China's new energy industry has helped Western countries achieve net-zero carbon emissions goals and contribute to the global energy transformation has played an important role.

When some people in the United States are hyping up China's "overcapacity" and impacting the global market, Nasser's fair words represent the rational and objective understanding of the international community. (See also this article ["This fallacy exposes the" dirty water "," bad water "and" bitter water "in the United States and the West"]()

With the help of technological innovation and a complete industrial chain system, China has provided affordable solutions to the world and promoted the popularization of new energy products. Taking new energy vehicles as an example, an analysis by McKinsey Management Consulting shows that Chinese electric vehicles are about 20% to 30% cheaper than electric vehicles produced by European manufacturers. One important reason is that China only takes about half of the time to develop new models in Europe.

比亚迪全智能化生产线。

Not only that, for countries around the world, China's new energy production capacity has also brought new momentum for development.

At present, countries are vigorously promoting manufacturing upgrading and green and low-carbon transformation, and are in urgent need of relevant equipment and parts for the development and utilization of new energy. As the world's largest renewable energy market and equipment manufacturer, China plays an important role. Currently, China supplies 50% of the world's wind power and 80% of photovoltaic equipment. From 2012 to 2021, the scale of China's green trade increased by 146.3%, injecting "green impetus" into global economic growth.

In the face of facts, the so-called "overcapacity theory" in the United States and the West is vulnerable. As many international people have said, practicing protectionism in the name of "overcapacity" will only drag down the global energy transformation process.

The hype in the United States and the West that "China and China have overcapacity" is a realistic reflection of the decline in the competitiveness of U.S. industries and the lack of confidence in major countries. The United States keeps saying that it "wins against China", but it dares not compete head-on with China.

In fact, what is surplus is not China's capacity, but the anxiety of the United States.

Artificial intelligence is booming. 2024 is called the first year of artificial intelligence applications, and the development of artificial intelligence continues to move forward vigorously.

In the first half of the year, the rapid development of artificial intelligence in China brought huge economic benefits and market potential.

2024世界人工智能大会暨人工智能全球治理高级别会议于7月4日在上海拉开帷幕。
根据中国信通院发布的数据，中国人工智能产业规模从2019年开始快速增长，到2023年已经达到了5784亿元。

As a key driving force for new industrial transformation, artificial intelligence has demonstrated astonishing strength in the fields of R & D, design, manufacturing and other fields.

It is predicted that by 2030, the scale of China's core artificial intelligence industry may exceed 1 trillion yuan, and the scale of related industries will exceed 10 trillion yuan. From smart manufacturing to smart medical care, then from smart transportation to smart education, artificial intelligence is quietly changing our lives. On July 9, at the 2024 (23rd) China Internet Conference, many experts said that China has multiple advantages in developing artificial intelligence such as a ultra-large market, massive data resources, and rich application scenarios.

With the breakthroughs of technology and the expansion of application scenarios,"AI+" will inject development driving force into various industries and fields, helping thousands of industries to "accelerate". China's economic prospects are bright.

For some time, Western countries led by the United States have been criticizing China's economy.

They vigorously advocate the so-called "theory of China's economic collapse" and "theory of China's rise reaching its peak", ignore objective facts and data, falsely claim that China's economy "cannot break forward", and even put forward the absurd argument that "China will never surpass the United States." (See also this article ["This phenomenon shows that the" theory of China's economic collapse "is collapsing!》 ]( ）

On April 10 this year, Fitch Ratings International also released a report adjusting China's sovereign credit rating outlook from "stable" to "negative". (See also this article ["Singing China? It's time for the "three major rating agencies" to rate themselves!" ]( ）

Amid these noises, China's economy continues to perform well, giving those maliciously bad-mouseers a loud slap in the face!

Recently, international institutions such as the International Monetary Fund, the World Bank, Morgan Stanley, Goldman Sachs, and UBS have raised their forecasts for China's economic growth this year, casting a vote of confidence in China's economic prospects.

While criticizing China, the United States and the West have also resorted to damaging tactics such as "decoupling and breaking links" and "small courtyards and high walls". They have frequently implemented export controls to China, carried out extensive economic sanctions, raised tariff barriers, and seriously deviated from the principle of free trade.

Seriously impact the stability of the global production and supply chain. Faced with various challenges, China has always insisted on advocating inclusive economic globalization, demonstrated a high-level opening attitude, and continuously provided a more stable and predictable environment for international trade. Since the beginning of this year, leaders from many countries have been gathering together to visit China. One of the main purposes is to strengthen economic cooperation with China and catch the "express train" of China's economy.

China's economy is highly resilient, has sufficient potential, and has wide room for maneuver, and has bright prospects for long-term improvement. In particular, China has a population of 1.4 billion, and the middle-income group will reach 800 million by 2035. The total consumer market in China is expected to exceed the total of Europe and the United States combined, and remains the most important engine of global economic growth.

At the same time, the global share of the United States 'GDP has dropped from 39.2% in 1960 to 25.4% in 2023, and the average annual contribution of the United States to global economic growth has dropped from 20.5% to 9.5%.

看完这些数据，我们对中国经济充满信心！ 文中图片源自网络 [ ]( [ ]( [ ](

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