Sheng Laiyun, Deputy Director of the National Bureau of Statistics: The contribution rate of domestic demand to GDP growth in the first half of the year was 68.8%.
Sheng Laiyun, deputy director of the National Bureau of Statistics, stated that since the beginning of this year, in order to cope with external challenges, China has placed greater emphasis on expanding and strengthening the domestic circulation, and has implemented a series of policies to support the expansion of domestic demand, promote production, and facilitate circulation. According to statistical data, the flow of people, goods, and funds have all improved, with domestic demand contributing 68.8% to GDP growth in the first half of the year, with final consumption expenditure contributing 52%, serving as the main driving force of growth. The economy is showing signs of improvement, with freight turnover increasing by 5.1% and passenger turnover increasing by 4.9% in the first half of the year. The People's Bank of China has just released data showing that M2 increased by 8.3% year-on-year at the end of June.
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