Home News China’s semi-annual economic report丨The industrial economy has stabilized and rebounded, and the digital economy has developed steadily

China’s semi-annual economic report丨The industrial economy has stabilized and rebounded, and the digital economy has developed steadily

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China’s semi-annual economic report丨The industrial economy has stabilized and rebounded, and the digital economy has developed steadily

The State Council Information Office held a press conference yesterday (19th), and the relevant person in charge of the Ministry of Industry and Information Technology said that in the first half of the year, my country’s industrial economy has stabilized and rebounded, and the digital economy has developed steadily.

The industrial economy has stabilized and rebounded, and the digital economy has developed steadily

In the first half of this year, the added value of my country’s industries above designated size increased by 3.4% year-on-year, and industrial production stabilized and picked up; percentage points, the proportion of manufacturing GDP has increased significantly. From January to June, the export delivery value of industrial enterprises increased by 10.8%, and the driving effect of exports continued to increase. Manufacturing investment increased by 10.4% year-on-year, of which the second quarter increased by 7.4%, which was 3.2 percentage points higher than the growth rate of fixed asset investment, maintaining a relatively high growth rate.

Tian Yulong, Chief Engineer of the Ministry of Industry and Information Technology:In the first half of the year, our country’s industrial economy showed strong industrial resilience, corporate vitality and development strength, effectively reversing the downward trend of industrial economic indicators. The industrial economy has stabilized and rebounded, showing a trend of recovery.

In the first half of the year, the information and communication industry developed steadily. A total of 1.854 million 5G base stations have been built and opened, and the gigabit optical network has the ability to cover more than 400 million households, realizing “5G access to every county and broadband to every village”. The application of 5G and Gigabit optical network integration has been accelerated to the fields of industry, medical care, education, transportation, etc., and the number of 5G application cases has exceeded 20,000.

In the first half of the year, local general public budget revenue increased by 4.7%

From mid-year to mid-year, all localities have successively made public their financial operations. Data show that in the first half of this year, after deducting the factor of tax rebates, the local general public budget revenue increased by 4.7%.

Data show that in the first half of the year, the local general public budget revenue at this level was 5,755.8 billion yuan, an increase of 4.7% after deducting the factor of tax rebates.

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Specifically, in the eastern region, Fujian increased by 6.7%, Shandong increased by 6.3%, and Zhejiang increased by 4.2%, maintaining steady growth. In the central and western regions, Shanxi, Inner Mongolia, Shaanxi, and Xinjiang, driven by the increase in the income of energy and resources industries, increased by 44%, 49.4%, 34.7% and 40.9% respectively, and continued to maintain a rapid growth trend.

Quartz Hua, Director of the Macroeconomic Research Center of the Chinese Academy of Fiscal Sciences:For example, in Zhejiang, Guangdong, etc., in fact, compared with May, the growth rate of income has obvious signs of recovery, which also shows that the economy of the leading regions is actually gradually recovering.

Various localities take multiple measures to prioritize key expenditures

After reading the income and then looking at the expenditure, the local general public budget expenditure in the first half of this year was 11325.7 billion yuan, an increase of 5.9% over the same period of the previous year. A number of measures have been adopted in various regions to give priority to ensuring key expenditures.

From the perspective of different regions, although Chongqing’s fiscal revenue has declined this year (-6.1%), the general public budget expenditure in the first half of the year still increased by 5.9%. Education, science and technology, health, energy conservation and environmental protection, and transportation expenditures have all increased significantly. In order to ensure key expenditures, Chongqing has reduced non-urgent and non-rigid expenditures by reducing the expenditure budget arranged by the city’s financial resources, in addition to rigid expenditures such as “three guarantees”, a total reduction of 5 billion yuan.

Quartz Hua, Director of the Macroeconomic Research Center of the Chinese Academy of Fiscal Sciences:From the perspective of the expenditure structure of various places, or the priority of expenditure, the expenditure on basic people’s livelihood is implemented without discount, including, for example, education, public health, social security, and employment.

In the first half of the year, the general public budget expenditure of Hubei Province reached 439.5 billion yuan, a year-on-year increase of 7.9%. Among them, Hubei Province dispatched funds of 172.46 billion yuan to cities and counties, which effectively guaranteed the expenditure needs of grassroots “three guarantees”. At the same time, the province’s finance raised 2.15 billion yuan to encourage car sales, green home appliance consumption and other consumer promotion activities.

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Zhang Hong, Director of the Industrial Development Division of the Hubei Provincial Department of Finance:There are more than 2 billion yuan (yuan) in driving consumption. It should be said that this effect is still relatively obvious.

Sichuan, on the other hand, solves the source of funds by adjusting the expenditure structure of the existing special funds and appropriately increasing the budget, and makes every effort to promote the accelerated recovery of consumption.

Ou Hongyan, Chief of the Commerce and Trade Section of the Economic Construction Division of the Sichuan Provincial Department of Finance:By further reducing government expenditures such as “three public” funds, it will free up more financial resources to promote development, promote consumption, and expand domestic demand, thereby stabilizing market players and ensuring people’s livelihood and employment.

All qualified direct funds have been released

Data show that as of the end of June, the central government has issued 3.992 trillion yuan in direct funds, and all qualified funds have been issued.

Judging from the data from various places, the progress of the allocation and expenditure of direct funds from the central government has accelerated in the first half of the year. In the first half of the year, the central government issued 104.6 billion yuan in direct funds to Chongqing, and Chongqing has allocated 99.4 billion yuan, with a progress of 95%.

Liu Wei, Deputy Director of the Treasury Department of Chongqing Municipal Finance Bureau:In the first half of the year, 56.4 billion yuan of direct funds have been spent, with a progress of 54%, providing solid support for strengthening the grassroots, benefiting people’s livelihood, and stabilizing the economic market.

Hubei has organically combined the direct capital mechanism with the “three guarantees” for grass-roots guarantees, and the funds can be used in a wider range. In the first half of the year, the central government issued 184.66 billion yuan of direct funds to Hubei, and the expenditure progress reached 56.4%, and the expenditure in key areas was effectively guaranteed.

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Xiong Xiaofei, Director of the Treasury Department of Hubei Provincial Department of Finance:The overall expenditure of our direct funds is nearly 5 percentage points faster than our normal funds. For example, our social security funds, funds for relief, civil affairs subsidy funds, including some food subsidies, should be allocated to our grass-roots government as soon as possible, so that we can have a stronger ability to coordinate and guarantee people’s livelihood.

In the first half of the year, special bonds supported more than 23,800 projects in various regions

Investment is an important starting point for stabilizing the macro economy. Data show that in the first half of the year, special bonds supported more than 23,800 projects in various places.

From a regional perspective, up to now, Liaoning’s new bond funds have been released this year, leaving ample time for the full-scale construction of bond projects in various regions. Hubei has issued all the 160.6 billion yuan of new special bonds for the year. Chongqing has issued 111.5 billion yuan of new special bonds, which are mainly invested in municipal and industrial park infrastructure, transportation infrastructure and other fields.

Data show that from January to June, new special bonds issued in various regions supported a total of more than 23,800 projects, including about 10,800 projects under construction and about 13,000 new projects. A total of more than 240 billion yuan of special bond funds have been allocated to be used as capital for major projects; market-oriented supporting financing has exceeded 530 billion yuan, which continues to drive the expansion of effective investment.

Quartz Hua, Director, Macroeconomic Research Center, Chinese Academy of Fiscal Sciences: Clearly guarantee the use of funds for major projects, such as the construction of major projects specified in our “14th Five-Year Plan”, and some major projects for regional economic development. Priority is given to these projects, which can expand effective investment and stabilize economic role.

(CCTV reporter Tian Qiyong, Du Leiming, Xu Zhihao, Pang Qingshan, Chen Peng, Liu Dayang, Wang Xing, Wang Yanru, Zhao Pu, Sichuan Taiwan)

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