Original from: National Bureau of Statistics of China
National Bureau of Statistics of China
15 July, 2025
In the first half year, under the strong leadership of the Central Committee of the Communist Party of China (CPC) with Comrade Xi Jinping at its core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, adhered to the general principle of pursuing progress while ensuring stability, fully and faithfully applied the new development philosophy on all fronts, accelerated the efforts to create a new pattern of development, coordinated domestic economic work and endeavors in the international economic and trade field, and implemented more proactive and effective macro policies. As a result, the national economy withstood pressure and made steady improvement despite challenges. The production and demand grew steadily, employment was generally stable, household income continued to increase, new growth drivers witnessed robust development and high-quality development made new strides, helping ensure overall social stability.
According to preliminary estimates, the gross domestic product (GDP) in the first half of 2025 reached 66,053.6 billion yuan, up by 5.3 percent year on year at constant prices. By industry, the value added of the primary industry was 3,117.2 billion yuan, up by 3.7 percent year on year; that of the secondary industry was 23,905.0 billion yuan, up by 5.3 percent; and that of the tertiary industry was 39,031.4 billion yuan, up by 5.5 percent. By quarter, the GDP for the first quarter increased by 5.4 percent year on year, and for the second quarter 5.2 percent. The GDP for the second quarter increased by 1.1 percent quarter on quarter.
1. Summer Grain Witnessed Stable Production and Good Harvest and Animal Husbandry Grew Steadily.
In the first half year, the value added of agriculture (crop farming) registered a year-on-year increase of 3.7 percent. The overall output of summer grain was 149.74 million tons, 0.15 million tons less than that of the previous year, a decrease of 0.1 percent. In the first half year, the output of pork, beef, mutton and poultry was 48.43 million tons, up by 2.8 percent year on year. Of this total, the output of pork, beef, and poultry grew by 1.3 percent, 4.5 percent and 7.4 percent respectively while that of mutton dropped by 4.6 percent. The output of milk was up by 0.5 percent and that of eggs up by 1.5 percent. At the end of the second quarter, the number of pigs registered in stock was 424.47 million, up by 2.2 percent year on year; and 366.19 million pigs were slaughtered, up by 0.6 percent in the first half year.
2. Industrial Production Grew Fast and Equipment Manufacturing and High-Tech Manufacturing Showed Good Growth.
In the first half year, the total value added of industrial enterprises above the designated size grew by 6.4 percent year on year. In terms of sectors, the value added of mining increased by 6.0 percent year on year, that of manufacturing increased by 7.0 percent, and that of production and supply of electricity, heat power, gas and water increased by 1.9 percent. The value added of equipment manufacturing increased by 10.2 percent year on year, and that of high-tech manufacturing increased by 9.5 percent, 3.8 percentage points and 3.1 percentage points faster than that of the industrial enterprises above the designated size respectively. An analysis by types of ownership showed that the value added of state holding enterprises was up by 4.2 percent year on year; that of share-holding enterprises was up by 6.9 percent; that of enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan was up by 4.3 percent; and that of private enterprises was up by 6.7 percent. In terms of products, the production of 3D printing devices, new energy vehicles and industrial robots grew by 43.1 percent, 36.2 percent and 35.6 percent year on year respectively. In June, the value added of industrial enterprises above the designated size went up by 6.8 percent year on year, or up by 0.50 percent month on month. In June, the Manufacturing Purchasing Managers’ Index stood at 49.7 percent, 0.2 percentage points higher than that of the previous month. The Production and Operation Expectation Index was 52.0 percent. In the first five months, the total profits made by industrial enterprises above the designated size were 2,720.4 billion yuan, down by 1.1 percent year on year.
3. Growth of Service Sector Accelerated and Modern Services Enjoyed Sound Growth.
In the first half year, the value added of service sector went up by 5.5 percent year on year, 0.2 percentage points faster than that of the first quarter of the year. Specifically, the value added of information transmission, software and information technology services, leasing and business services, transport, storage and postal services, and wholesales and retails grew by 11.1 percent, 9.6 percent, 6.4 percent and 5.9 percent respectively. In June, the Index of Services Production increased by 6.0 percent year on year. Specifically, the Index of Services Production of information transmission, software and information technology services, leasing and business services, finance, and wholesales and retails went up by 11.6 percent, 8.4 percent, 7.3 percent and 6.9 percent respectively. In the first five months, the business revenue of service enterprises above the designated size grew by 8.1 percent year on year. In June, the Business Activity Index for Services stood at 50.1 percent. The Business Activity Expectation Index for Services was 56.0 percent. Specifically, the Business Activity Index for industries like postal services, telecommunication, broadcast, television and satellite transmission services, internet software and IT services, monetary and financial services, capital market services, and insurance stayed within the high expansion range of 55.0 percent and above.
4. Growth of Market Sales Picked up and Upgraded Goods Enjoyed Good Sales.
In the first half year, the total retail sales of consumer goods reached 24,545.8 billion yuan, up by 5.0 percent year on year, 0.4 percentage points faster than that of the first quarter. Analyzed by different areas, the retail sales of consumer goods in urban areas reached 21,305.0 billion yuan, up by 5.0 percent year on year, and that in rural areas stood at 3,240.9 billion yuan, up by 4.9 percent. Grouped by consumption patterns, the retail sales of goods were 21,797.8 billion yuan, up by 5.1 percent; the income of catering was 2,748.0 billion yuan, up by 4.3 percent. Sales of basic living goods and certain upgraded goods enjoyed sound growth. The retail sales of grain, oil and food, sports and recreational articles, and gold, silver and jewelry by enterprises above the designated size went up by 12.3 percent, 22.2 percent and 11.3 percent respectively. The effect of trade-in of consumer goods policy continued to manifest, with the retail sales of household appliances and audio-visual equipment, cultural and office supplies, communication equipment, and furniture by enterprises above the designated size up by 30.7 percent, 25.4 percent, 24.1 percent and 22.9 percent respectively. The online retail sales reached 7,429.5 billion yuan, up by 8.5 percent year on year. Specifically, the online retail sales of physical goods were 6,119.1 billion yuan, up by 6.0 percent, accounting for 24.9 percent of the total retail sales of consumer goods. In June, the total retail sales of consumer goods went up by 4.8 percent year on year, or down by 0.16 percent month on month. In the first half year, the retail sales of services went up by 5.3 percent year on year, 0.3 percentage points faster than that of the first quarter.
5. Investment in Fixed Assets Continue to Scale up and Investment in Manufacturing Grew Fast.
In the first half year, the investment in fixed assets (excluding rural households) reached 24,865.4 billion yuan, up by 2.8 percent year on year; the investment in fixed assets was up by 6.6 percent with the investment in real estate development deducted. Specifically, the investment in infrastructure grew by 4.6 percent year on year; that in manufacturing grew by 7.5 percent; and that in real estate development declined by 11.2 percent. The floor space of newly-built commercial buildings sold was 458.51 million square meters, down by 3.5 percent year on year; the total sales of newly-built commercial buildings were 4,424.1 billion yuan, down by 5.5 percent. By industry, the investment in the primary industry went up by 6.5 percent year on year, that in the secondary industry up by 10.2 percent, and that in the tertiary industry down by 1.1 percent. The private investment declined by 0.6 percent year on year, or grew by 5.1 percent with the investment in real estate development deducted. Among high-tech industries, the investment in information services, aerospace vehicle and equipment manufacturing, and computer and office device manufacturing grew by 37.4 percent, 26.3 percent and 21.5 percent respectively. In June, the investment in fixed assets (excluding rural households) declined by 0.12 percent month on month.
6. Imports and Exports of Goods Maintained Growth and Trade Structure Continued to Optimize.
In the first half year, the total value of imports and exports of goods was 21,787.6 billion yuan, an increase of 2.9 percent year on year. Specifically, the total value of exports was 13,000.0 billion yuan, up by 7.2 percent, and the total value of imports was 8,787.5 billion yuan, down by 2.7 percent. The imports and exports by private enterprises increased by 7.3 percent, accounting for 57.3 percent of the total value of imports and exports, 2.3 percentage points higher than that of the same period last year. The imports and exports with the Belt and Road partner countries grew by 4.7 percent. The exports of mechanical and electrical products grew by 9.5 percent, accounting for 60.0 percent of the total value of exports. In June, the total value of imports and exports was 3,852.7 billion yuan, up by 5.2 percent year on year. Among which, the total value of exports was 2,339.4 billion yuan, up by 7.2 percent, that of imports was 1,513.4 billion yuan, up by 2.3 percent.
7. Consumer Price was Generally Stable and Core CPI Registered Moderate Rebound.
In the first half year, the consumer price index (CPI) dropped by 0.1 percent year on year. Grouped by commodity categories, prices for food, tobacco and alcohol went down by 0.3 percent; clothing up by 1.3 percent; housing up by 0.1 percent; articles and services for daily use maintained the same level; transportation and communication down by 2.9 percent; education, culture and recreation up by 0.8 percent; medical services and health care up by 0.3 percent; and other articles and services up by 6.7 percent. In terms of food, tobacco and alcohol prices, the price for fresh vegetables went down by 5.3 percent, grain down by 1.3 percent, fresh fruit up by 2.7 percent and pork up by 3.8 percent. In June, the CPI went up by 0.1 percent year on year, or down by 0.1 percent month on month. In the first half year, the core CPI excluding the prices of food and energy grew by 0.4 percent year on year, 0.1 percentage points higher than that of the first quarter. In June, the core CPI went up by 0.7 percent year on year, 0.1 percentage points higher than that of the previous month.
In the first half year, the producer prices for industrial products went down by 2.8 percent year on year. Specifically, the prices in June dropped by 3.6 percent year on year, or down by 0.4 percent month on month. In the first half year, the purchasing prices for industrial producers went down by 2.9 percent year on year. In June, the prices dropped by 4.3 percent year on year, or down by 0.7 percent month on month.
8. Employment was Generally Stable and Urban Surveyed Unemployment Rate Dropped Slightly.
In the first half year, the urban surveyed unemployment rate averaged 5.2 percent, 0.1 percentage points lower than that of the first quarter. In June, the urban surveyed unemployment rate was 5.0 percent. The surveyed unemployment rate of population with local household registration was 5.1 percent and that of population with non-local household registration was 4.8 percent, of which, the rate of population with non-local agricultural household registration was 4.8 percent. The urban surveyed unemployment rate in 31 major cities was 5.0 percent. The employees of enterprises worked 48.5 hours per week on average. By the end of the second quarter, the number of rural migrant workers totaled 191.39 million, up by 0.7 percent year on year.
9. Household Income Witnessed Stable Increase and Income Growth of Rural Households Outpaced That of Urban Households.
In the first half year, the nationwide per capita disposable income of households was 21,840 yuan, a nominal growth of 5.3 percent year on year; the real growth was 5.4 percent after deducting price factors. In terms of permanent residence, the per capita disposable income of urban households was 28,844 yuan, a nominal growth of 4.7 percent year on year and a real growth of 4.7 percent; the per capita disposable income of rural households was 11,936 yuan, a nominal growth of 5.9 percent year on year and a real growth of 6.2 percent. In terms of income source, the nationwide per capita salary income, net business income, net property income and net income from transfers grew by 5.7 percent, 5.3 percent, 2.5 percent and 5.6 percent in nominal terms respectively. The median of the nationwide per capita disposable income of households was 18,186 yuan with a nominal growth of 4.8 percent year on year.
Generally speaking, with the more proactive and effective macro policies taking effects in the first half year, the national economy maintained steady growth with good momentum, showcasing strong resilience and vitality. However, we should be aware that there are many unstable and uncertain factors in external environment, the domestic effective demand is insufficient, and the foundation for economic recovery and growth needs to be further consolidated. At the next stage, we must follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, adhere to the general principle of pursuing progress while ensuring stability, fully and faithfully apply the new development philosophy on all fronts, and accelerate the creation of a new pattern of development. We must coordinate domestic economic work and endeavors in the international economic and trade field, unswervingly manage our own affairs well, further strengthen domestic circulation, cope with external uncertainties with high-quality development, and promote the sustained, stable, and healthy development of the economy.
Source: National Economy Made Steady Improvement Despite Challenges in the First Half Year
China Association of In-vitro Diagnostics
Part of the information in our website is from the internet.
If by any chance it violates your rights, please contact us.