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China News Service, July 31 (Wan Keyi) Recently, the regional gross domestic product (GDP) data of 31 provinces in the first half of 2024 have all been released. In terms of GDP, Guangdong and Jiangsu are firmly in the "6 trillion club"; in terms of growth rate, 16 provinces are higher than the "national line", and Inner Mongolia has the fastest growth rate, reaching 6.2%.

　　Guangdong and Jiangsu remain firmly in the "6 trillion club"

In terms of total GDP, in the first half of 2024, the economically developed provinces of Guangdong, Jiangsu and Shandong will still rank in the top three; Zhejiang, Henan, Sichuan, Hubei, Fujian, Hunan and Anhui will rank fourth to tenth in the country.

China New Economic Network found that there are 13 provinces whose GDP will exceed 2 trillion yuan in the first half of 2024, namely Guangdong, Jiangsu, Shandong, Zhejiang, Henan, Sichuan, Hubei, Fujian, Hunan, Anhui, Shanghai, Beijing, and Hebei.

Guangdong and Jiangsu remained firmly in the "6 trillion club", with GDP of 6,524.25 billion yuan and 6,332.63 billion yuan respectively in the first half of the year.

The Guangdong Provincial Bureau of Statistics said that in the first half of the year, Guangdong's new driving force industries developed rapidly, with the added value of advanced manufacturing and high-tech manufacturing increasing by 8.1% and 13.0% respectively, of which high-end electronic information manufacturing increased by 16.3%, and aviation, spacecraft and equipment manufacturing increased by 20.9%. The output of high-tech products grew rapidly, with the output of new energy vehicles, smart phones, integrated circuits, and industrial robots increasing by 25.7%, 23.4%, 31.1%, and 37.6% respectively.

Tang Li, director of the National Economic Accounting Division of the Jiangsu Provincial Bureau of Statistics, mentioned that in the first half of the year, Jiangsu's industry maintained rapid growth, with industrial added value increasing by 7.4% year-on-year, driving economic growth by 2.9 percentage points, of which the added value of manufacturing increased by 7.1% year-on-year, driving economic growth by 2.6 percentage points. The service industry grew steadily, with the added value of wholesale and retail, transportation, warehousing and postal services, leasing and business services, and resident services, repairs and other services increasing by 8.5%, 8.6%, 10.9% and 12.4% year-on-year respectively, driving economic growth by 1.7 percentage points in total.

Shandong and Zhejiang have jointly joined the "4 trillion club", with GDP of 466.77 billion yuan and 409.20 billion yuan respectively in the first half of the year.

The Shandong Provincial Bureau of Statistics and the Shandong Survey Team of the National Bureau of Statistics mentioned that Shandong has solidly promoted the implementation of policies such as the old-for-new exchange of consumer goods to expand domestic demand and promote consumption, and the demand for consumption upgrades has been accelerated, and the scale of the consumer market has continued to grow. In the first half of the year, the total retail sales of social consumer goods in the province was 1,779.63 billion yuan, a year-on-year increase of 5.5%. By location of business units, urban consumer goods retail sales increased by 5.3%; rural consumer goods retail sales increased by 6.2%. By consumption type, catering revenue increased by 9.9%; commodity retail sales increased by 4.9%. The province's online retail sales above the limit increased by 21.4%.

Zhejiang's GDP exceeded 4 trillion yuan for the first time in the first half of the year, reaching a new level. The Zhejiang Provincial Bureau of Statistics said that Zhejiang's industries are clearly transforming from "new" to "green". In the first half of the year, among the industries above designated size, the added value of equipment manufacturing, high-tech, and strategic emerging industries increased by 10.6%, 8.7%, and 7.3% year-on-year, respectively, driving the added value of industries above designated size to increase by 5.1, 5.9, and 2.6 percentage points, respectively. The supply of new quality products is growing strongly, and servicerobotThe output of new products such as lithium-ion batteries, integrated circuits, and new energy vehicles increased by 87.9%, 51.6%, 25.4%, and 27.9% respectively. Clean energy production grew rapidly, with hydropower, nuclear power, wind power,SolarThe total power generation increased by 16.1%, accounting for 34.3% of the total power generation, an increase of 3.5 percentage points year-on-year.

　　16 provinces outperformed the national line

According to data from the National Bureau of Statistics, the GDP in the first half of the year was 61,683.6 billion yuan, a year-on-year increase of 5.0% at constant prices. Compared with this data, 16 provinces had a GDP growth rate higher than the "national line" in the first half of the year. These regions are Inner Mongolia, Chongqing, Tibet, Jiangsu, Shandong, Hubei, Gansu, Jilin, Zhejiang, Fujian, Sichuan, Beijing, Xinjiang, Anhui, Guizhou, and Ningxia. Hebei and Liaoning had the same growth rate as the national level.

Among them, Inner Mongolia led the way with a growth rate of 6.2%, and Chongqing and Tibet ranked second with a growth rate of 6.1%.

It is understood that in the first half of the year, Inner Mongolia's fixed asset investment (excluding farmers) increased by 12% year-on-year, 8.1 percentage points higher than the national average, ranking second in the country. In terms of industry, investment in the primary industry increased by 77.0%, investment in the secondary industry increased by 13.3%, and investment in the tertiary industry increased by 4.0%. In the secondary industry, industrial investment increased by 13.1% year-on-year.

Lu Xin, director of the Accounting Department of the Chongqing Municipal Bureau of Statistics, introduced that in the first half of the year, thanks to the rapid development of industries such as automobiles, consumer goods, and energy industries, the city's industrial added value increased by 7.4%, contributing 34.7% to economic growth, driving economic growth by 2.1 percentage points; the added value of the construction industry increased by 6.0%, contributing 10.0% to economic growth, driving economic growth by 0.6 percentage points.

Wang Ping, member of the Party Leadership Group and deputy director of the Tibet Autonomous Region Statistics Bureau, mentioned that in the first half of the year, the total output value of agriculture, forestry, animal husbandry and fishery in Tibet increased by 16.6% year-on-year, of which the output value of animal husbandry increased by 15.4%, and the foundation for the development of the primary industry was further consolidated. Private investment and investment in high-tech industries increased by 49.7% and 33.6% respectively, investment vitality was significantly enhanced, and the stamina of industrial development was more sufficient. The total hydropower and solar power generation in industries above designated size accounted for 97.3% of the total power generation of industries above designated size, and the production of clean energy continued to expand. New e-commerce models such as live streaming and instant retail in the region have developed rapidly, and online shopping promotions have been intensified. In the first half of the year, online retail sales reached 10.35 billion yuan, an increase of 77.7%, of which the online retail sales of physical goods reached 8.87 billion yuan, an increase of 90.8%, and the growth rate ranked first in the country.

　　The stable and long-term positive development trend will not change

How do you evaluate the economic performance in the first half of this year? The spokesperson of the National Bureau of Statistics said earlier that in the first half of the year, the complexity, severity and uncertainty of the external environment increased significantly, and the domestic structural adjustment continued to deepen, which brought new challenges. However, the continued release of macroeconomic policy effects, the recovery of external demand, and the accelerated development of new quality productivity also formed new support. In general, the national economy continued to recover in the first half of the year, and the overall operation was stable and steady, and the achievements were hard-won.

Looking ahead to the second half of the year, the above-mentioned spokesperson mentioned that the external environment is becoming more unstable and uncertain, and there are still many difficulties and challenges at home, but these are problems in progress and troubles in growth, and they must be solved continuously in the process of promoting development. The relevant departments have a clear understanding of these problems and have taken a series of measures to solve them. Overall, the favorable conditions facing my country's development are stronger than the unfavorable factors, and the stable and long-term positive development trend will not change.

Dongguan Securities analyzed that the development vitality of new consumption and new infrastructure is constantly being released, the effects of large-scale equipment renewal and old-for-new consumer goods policies are gradually emerging, and the special bonds and ultra-long-term special government bonds issued in the early stage are gradually transformed into physical workload. Strengthening policy coordination and comprehensive measures will continue to form policy synergy and provide favorable conditions for the stable operation of the economy in the second half of the year. (China News Service APP)

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