Official data released on August 17 by the National Bureau of Statistics reveals that from January to July this year, production and supply expanded at a consistent pace, employment and pricing remained largely stable, foreign trade demonstrated continued resilience, and fresh growth drivers gained momentum. The national economy operated with overall stability, showcasing a pattern of shifting toward innovation and structural enhancement.
Industrial production posted relatively strong growth, while the services sector progressed steadily. During the January-to-July period, value-added output from industrial enterprises above a designated size grew by 5.3% year on year, and the services production index rose by 4.7%.
Market sales continued to expand, investment in intellectual property products grew rapidly, and imports and exports of goods increased at a solid clip. Over the same timeframe, total retail sales of consumer goods and services climbed 2.6% year on year. Fixed-asset investment (excluding rural households) reached 260,328 billion yuan, a year-on-year decline of 6.7%, while investment in intellectual property products surged 9.1%. The total value of goods imports and exports came in at 301,264 billion yuan, up 17.3% year on year.
Employment conditions remained broadly stable, and consumer prices rose moderately. The average surveyed urban unemployment rate stood at 5.2% for the first seven months, unchanged from the January-to-June period and the same period last year. The consumer price index (CPI) edged up 0.9% year on year, while the producer price index (PPI) for industrial goods advanced 1.8%.
Overall, the economy maintained a stable trajectory with positive momentum toward innovation and improvement during this period. However, the external environment remains complex and uncertain, domestic supply continues to outpace demand, and some enterprises face operational difficulties. The groundwork for sustained steady growth still needs reinforcement, according to Fu Linghui, spokesperson for the National Bureau of Statistics, at a press conference held by the State Council Information Office on the same day.
Looking ahead, Fu emphasized the need to intensify reform and opening-up efforts, accelerate the transition between old and new growth drivers, strengthen counter-cyclical adjustments, boost domestic demand, enhance supply quality, improve people's livelihoods, and unlock development vitality while stimulating social dynamism. These steps aim to steer the economy toward continued innovation-driven, optimized, and robust growth.