Beijing, August 8: Recent data from the National Development and Reform Commission’s National Information Center indicates that China’s economy exhibited stability and positive trends in July. Offline consumption continued to rise, investment structures improved, and market capital actively invested in sectors linked to new production capabilities. This has fostered innovation and a new momentum for economic growth.
According to the statistics, the payment value for offline consumption across various categories saw a year-on-year increase of 2.2% in July. This growth rate is 0.8 percentage points higher than that of June. Notably, the consumption payments for household appliances and audio-video equipment surged by 8.5% year-on-year, marking an increase of 10.9 percentage points compared to the previous month.
Positive trends were also observed in the investment sector. Investment in advanced manufacturing rose by 73.1% year-on-year in July, which is 42.5 percentage points higher than June. Meanwhile, the contract value for projects related to new infrastructures such as computing power, data, and networks increased by 0.8% year-on-year.
In the industrial sector, the production index of industrial parks recorded a year-on-year growth of 1% in July, maintaining overall stability. During this period, the development indices for semiconductors, new materials, and digital intelligence grew by 11.6%, 8.9%, and 4.8% year-on-year, respectively.
Additionally, there was an increase in the number of patent approvals related to strategic emerging industries. In July, patent approvals in these sectors rose by 10.7% year-on-year, with a remarkable 60% increase in approvals related to artificial intelligence, which is 21.7 percentage points higher than in June.
(Source: China Media Group, Beijing)
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