China's semi annual economic report was released on the 17th, and the gross domestic product (GDP) in the first half of the year increased by 5.5% year-on-year, an increase of 1 percentage point from the first quarter. Overall, 5.5% is a relatively high gold content speed. The upward trend of the Chinese economy continues to consolidate, and the upward trend has more support. The global economic recovery is facing a bumpy road, and China continues to inject confidence and momentum into the world. China's rapid global economic growth and high-quality development have brought valuable certainty to the world economy. Since the beginning of this year, global economic growth has been sluggish, with weak growth in major economies. China's economy has maintained rapid growth, providing important support for global economic development. Since the beginning of this year, major international organizations have raised their global economic growth expectations, a significant factor being the recovery of China's economy. According to data released by major economies, in the first quarter of this year, the GDP of the United States, the eurozone, Japan, and Brazil increased by 1.8%, 1%, 1.9%, and 4% year-on-year, respectively. Taking into account the situation in the second quarter, among the major economies, the overall growth rate of the Chinese economy in the first half of the year is still relatively fast. China is steadily moving towards its annual economic growth target of around 5%. The previous judgment of the International Monetary Fund is being confirmed: this year, China's contribution to global economic growth will reach about one-third. Fu Chuanyong, a senior economist at the ASEAN China Japan South Korea Macroeconomic Research Office, believes that in the long run, the prospects for China's economic growth are bright. I believe that China can make further breakthroughs in maintaining strong growth and continuously enhance economic resilience. "China has formed more positive interactions with the world by expanding its solid pace of high-level opening up. Against the backdrop of sluggish global economic recovery and a slowdown in global trade and investment, China is actively expanding high-level openness, promoting trade structure optimization, and strengthening economic and trade exchanges with countries around the world on the basis of mutual benefit and win-win situation. In the first half of the year, China's total import and export of goods increased by 2.1% year-on-year, with the proportion of general trade imports and exports with higher added value accounting for 65.5% of the total import and export volume. In the first half of the year, China's imports and exports to countries along the "the Belt and Road" increased by 9.8%, and its total imports and exports to ASEAN, Latin America and Africa increased by 5.4%, 7% and 10.5% respectively. Li Xingyu, Executive Director of the Socio Economic Research Center of the Malaysian Chinese Chamber of Commerce, stated that in the face of unfavorable factors such as global economic slowdown, rising protectionism, climate change, and food crisis, China's adherence to promoting international economic and trade cooperation and high-level opening up to the outside world will contribute to global economic development. "China is a staunch supporter of opening up, and we have confidence in the Open economy." China has constantly opened up new space for mutually beneficial cooperation between China and foreign countries with high-quality development featuring structural improvement and kinetic energy optimization. From a demand perspective, economic growth has shifted from being mainly driven by investment and exports last year to being mainly driven by consumption and investment this year. The contribution rate of final consumption expenditure to economic growth in the first half of the year exceeded 70%, and investment in high-tech industries increased by 12.5% in the first half of the year. Among them, investment in high-tech manufacturing and high-tech service industries increased by 11.8% and 13.9% respectively, and new driving forces for economic development continued to strengthen. From a production perspective, economic growth
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：XinhuaNet
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