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Economy

Factbox: Data highlights of China's economy in H1

July 17, 2023


Abstract : China's economy sustained a recovery momentum in the first half (H1) of the year, with major economic indicators showing further signs of improvement.

BEIJING, July 17 (Xinhua) -- China's economy sustained a recovery momentum in the first half (H1) of the year, with major economic indicators showing further signs of improvement.

The following are some data highlights released by the National Bureau of Statistics on Monday.

-- China's gross domestic product grew 5.5 percent year on year to 59.3 trillion yuan (about 8.3 trillion U.S. dollars) in H1.

In the second quarter, the country's GDP expanded 6.3 percent year on year.

-- The value-added industrial output, an important economic indicator, went up 3.8 percent year on year in H1.

In June alone, industrial output rose 4.4 percent year on year, faster than the 3.5-percent growth registered in May.

-- The value-added service output went up 6.4 percent year on year in H1. The growth rate accelerated by 1 percentage point from the pace recorded in the first quarter (Q1).

-- The retail sales of consumer goods went up 8.2 percent year on year in H1 to around 22.76 trillion yuan, 2.4 percentage points faster than that of Q1.

In June alone, retail sales were up 3.1 percent year on year.

-- The fixed-asset investment went up 3.8 percent year on year in H1 to 24.31 trillion yuan.

High-tech industries saw strong growth, with investment up 12.5 percent year on year. Specifically, investment in high-tech manufacturing and high-tech services sectors expanded by 11.8 percent and 13.9 percent, respectively.

-- China's per capita disposable income stood at 19,672 yuan in H1, up 6.5 percent year on year in nominal terms.

After deducting price factors, per capita disposable income rose 5.8 percent from the previous year.

-- China's surveyed urban unemployment rate stood at 5.3 percent in H1, 0.2 percentage points lower than that in Q1.

On a monthly basis, the rate stayed unchanged from that in May, at 5.2 percent.

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Keyword: Chinese economy

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