On the 15th, China's July national economic operation data was released, showing the characteristics of "overall stability, steady progress". With the deepening implementation of the 'trade in' campaign for consumer goods, the demand for new products in automobiles, home appliances, and home decoration is gradually being released; The active summer travel activities of residents have also driven the development of the entertainment and leisure industry Wen Bin, Chief Economist of China Minsheng Bank, stated. Experiencing hairpin flowers in Fujian, attending a concert in the desert of Gansu, and strolling through night markets in ancient Yunnan... The rich cultural and tourism activities in various places have ignited residents' enthusiasm for summer travel, and also driven the growth of consumption in transportation services, tourism consulting and rental services, and cultural and leisure services. According to data from China Railway Group, from January to July this year, the country's railways transported over 2.5 billion passengers, with a passenger turnover of approximately 945.5 billion person kilometers, an increase of 15.7% and 10.6% year-on-year, both reaching a new historical high for the same period. It is worth mentioning that data from the State Post Bureau shows that since the beginning of this year, the monthly average business volume of China's postal and express delivery industry has exceeded 13 billion pieces, and the monthly average business revenue has exceeded 100 billion yuan, both reaching a historical high. Behind the record high volume of express delivery services is the continuous innovation of China's consumer industry, with a steady increase in the proportion of online consumption. From January to July this year, the online retail sales of physical goods in China increased by 8.7% year-on-year. With the implementation of policies to increase residents' income, enhance consumption capacity and willingness, the foundation for the recovery of the consumer market will be further consolidated Liu Aihua, spokesman of the National Bureau of Statistics, said. In July, the quality and quantity of China's imports and exports of goods increased, with a year-on-year growth of 6.5% in the total import and export volume of goods, which was 0.7 percentage points faster than the previous month. From the July foreign trade data, the upgrading characteristics of China's industrial structure are obvious, "said Zhong Zhengsheng, Chief Economist of Ping An Securities. The export advantages of key products such as household appliances, integrated circuits, and ships continue to be consolidated. The gradual formation of new growth points in the economy is conducive to enhancing economic mobility Zhu Qigui, Vice Dean of the China Institute of Finance at Shanghai Jiao Tong University, said. Production demand continues to recover, employment and prices are generally stable, new driving forces are cultivated and strengthened, and the economic operation continues the overall stable and progressive development trend Liu Aihua introduced. At the same time, Liu Aihua said, "We should also see that the external environment is becoming more unstable and uncertain, the domestic effective demand is insufficient, the economic operation has been divided, some problems in development and transformation are still emerging, and the foundation for the economic recovery needs to be further consolidated." (Le Xinshe)
Edit：He Chuanning Responsible editor：Su Suiyue
Source：Xinhua
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