Understand the 'new' support behind the 4.7% growth rate-瞭望新时代网

Understand the 'new' support behind the 4.7% growth rate

2026-07-16

On July 15th, the State Council Information Office held a press conference on the operation of the national economy in the first half of 2026. According to data released by the National Bureau of Statistics, the gross domestic product in the first half of the year was 69570.4 billion yuan, a year-on-year increase of 4.7% at constant prices. The GDP increment is 3.6 trillion yuan, which is the largest increment in the same period of the past five years.

4.7% gold content, to be measured in the global coordinate system. Since the second quarter, there have been new changes in the world economy. The International Monetary Fund recently lowered its global economic growth forecast to 3.0%, while at the same time, it raised China's annual economic growth forecast by 0.2 percentage points. Between one drop and one rise, it highlights the relative advantage of the Chinese economy.

The key to understanding 4.7% is to comprehend the word 'new'. At the press conference, Mao Shengyong, Deputy Director of the National Bureau of Statistics, summarized the development trend of China's economy with four words: "stable," "resilient," "new," and "excellent. Among them, "new" is the most valuable one - preliminary estimates show that in the first half of the year, new driving forces represented by high-end manufacturing, digital economy, and modern services contributed more than 40% to economic growth. This number means that new momentum has become the "new" driver supporting a growth rate of 4.7%.

The rise of new momentum is supported by solid data. In the first half of the year, the added value of high-tech manufacturing industries above designated size increased by 13.3% year-on-year, while the added value of aerospace and equipment manufacturing, electronic and communication equipment industries increased by 16.3% and 17% respectively. Industries related to artificial intelligence, such as integrated circuit manufacturing and intelligent vehicle equipment manufacturing, maintain a high growth rate of over 30%. The pace of green transformation has also accelerated, with the retail penetration rate of new energy vehicles exceeding 60% for three consecutive months in the first half of the year, driving a 39.3% increase in lithium-ion battery production. The added value of the equipment manufacturing industry increased by 9.3% year-on-year, faster than all industries above designated size by 3.9 percentage points... These figures outline a clear trajectory from "manufacturing" to "intelligent manufacturing".

More noteworthy is the trend. The new momentum not only contributes greatly, but also has strong momentum and strong momentum. Mao Shengyong clearly stated that the new driving force still maintains a very good development trend and will continue in the second half of the year. The support and leadership of the economy by the new driving force are still very strong. This provides solid conditions and support for achieving the expected annual economic growth target.

The growth rate of 4.7% was achieved against the backdrop of external environmental turbulence and the interweaving of new and old domestic situations and problems. When most economies around the world are facing the dilemma of high inflation and slow growth, China has not only achieved reasonable growth in quantity, but also taken solid steps in effectively improving quality. The pace of transition between new and old driving forces is accelerating, and new driving forces are constantly growing and strengthening, increasingly lifting the backbone of the Chinese economy. (Outlook New Era)

Edit：Luoyu Responsible editor：Wang Erdong

Source：CCTV

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