CBN丨China’sGDPgrew5.5percentinH1

Hi everyone. I’m Stephanie LI.

大家好，我是主持人李莹亮。

Coming up on today’s program.

重点提要

• China unveiled first half economic data;

• Listed banks distributes a record 585 billion yuan cash dividends this year.

Here’s what you need to know about China in the past 24 hours

中国经济要闻

China#39;s GDP grew by 5.5 percent year-on-year in the first half of the year to 59.3 trillion yuan, posting a steady economic rebound, the National Bureau of Statistics said on Monday.

In the second quarter, the economy rose by 6.3 percent compared with a year earlier, up from 4.5 percent in the first quarter, the NBS said.

The 6.3-percent growth in the second quarter fell short of market projections, which comes on top a low base last year, when GDP growth stood at 0.4 percent due to the epidemic.

Fu Linghui, a spokesperson for the NBS, said China#39;s economy remains on a positive stable trend, noting a 5.5-percent growth in the first half is faster than the 3-percent growth in 2022 and the average annual growth rate of 4.5 percent over the three years under COVID-19. quot;The recovery trend of economic growth is relatively significant,quot; he said, noting China#39;s growth rate in the first half is still the fastest among all major economies.

Economists also pointed out that the 6.3-percent growth is hard-won and actually showed the resilience of the Chinese economy, as the growth was achievement without broad-based economic stimulus and as traditional growth boosters such as exports and real estate faced slowing pressures.

Monday’s figures also showed China#39;s value-added industrial output growth accelerated to 4.4 percent in June from a year earlier after a 3.5 percent rise in May. In the first half, industrial output grew by 3.8 percent year on year, compared to a 3-percent rise in the first quarter.

Retail sales slowed to 3.1 percent in June, down from the 12.7 percent growth in May. In the first six months, however, retail sales rose by 8.2 percent year on year to hit 22.8 trillion yuan, faster than the 5.8-percent growth in the first quarter, and final consumption expenditure contributed 77.2 percent to economic growth, significantly higher than last year.

During a press conference on Tuesday, the National Development and Reform Commission , China’s top economic planner, pledged to formulate policies to quot;restore and expandquot; consumption, noting that consumers#39; purchasing power and expectations remained weak.

In the next step, China will introduce policies as soon as possible to boost consumption, including measures to stabilize consumption on big ticket items, promote sales of cars and electronic devices and expand rural spendings, the NDRC said.

Meanwhile, in the January-June period, fixed-asset investment grew by 3.8 percent compared with a year earlier, in which property investment fell 7.9 percent, while that of high-tech industry jumped by 12.5 percent.

The surveyed urban jobless rate came in at 5.2 percent in June, flat with the previous month. The youth unemployment rate, however, rose to 21.3 percent in June, a five year high.

The NBS said the youth unemployment rate sees quot;seasonal fluctuations” as it goes up during graduation season with the influx of young graduates into the job market, which is expected to ease gradually from August with more young people landing jobs.

Despite the steady recovery, the NBS warned of pressures from a complicated international environment, saying the foundation for the economic rebound is not yet solid.

More efforts should be made to promote high-quality growth, fully deepen reforms and opening-up, accelerate the modernization of the industrial system, improve the economic structure and gather new growth momentum, the NBS said.

7月17日，中国交出了2023年上半年经济答卷，一系列主要指标显示出中国经济的强大韧性。

初步核算，上半年国内生产总值59.30万亿元，按不变价格计算，同比增长5.5%。分产业看，第一产业增加值3.04万亿元，同比增长3.7%；第二产业增加值23.07万亿元，同比增长4.3%；第三产业增加值33.19万亿元，同比增长6.4%。

分季度看，一季度增长4.5%，二季度增长6.3%。二季度经济增速回升背后很重要的原因在于去年同期基数低，去年一、二季度经济增速分别为4.8%、0.4%。

国家统计局新闻发言人、国民经济综合统计司司长付凌晖在国新办发布会上表示，今年以来，我国经济运行逐步向常态化运行轨道回归，一季度经济开局良好，二季度延续恢复态势。

上半年国内生产总值同比增长5.5%，5.5%的增速明显快于去年全年3%的经济增速，也快于疫情三年年均4.5%的增速，经济增长回升态势比较明显。5.5%的经济增长在全球范围内是较快的增速，上半年总体中国经济增速仍然在主要经济体当中是最快的。由于去年下半年基数走高，市场普遍预计今年下半年经济增速会有所回落，不过，全年仍有望实现5%左右的目标。

上半年社会消费品零售总额22.76万亿元，同比增长8.2%，比一季度加快2.4个百分点。付凌晖表示，上半年社会消费品零售总额同比增长8.2%，保持较快增长；最终消费支出对经济增长的贡献率达到77.2%，明显高于去年，消费对经济增长的拉动明显增强。

7月18日，国家发展改革委在新闻发布会上表示，当前消费恢复存在分化，比如接触型服务消费如餐饮旅游等恢复较快，但是房地产相关消费依然疲弱。国家发展改革委政策研究室主任金贤东回应21世纪经济报道记者提问表示，下一步，将抓紧制定出台恢复和扩大消费的政策，围绕稳定大宗消费、促进汽车消费和电子产品消费、拓展农村消费、优化消费环境等方面，出台一批务实管用的政策举措并推动尽快落地见效。

另外，上半年全国固定资产投资24.31万亿元，同比增长3.8%，比一季度回落1.3个百分点。二季度房地产的下行压力加大。上半年房地产投资同比下降7.9%，较一季度下行2.1个百分点。

二季度以来连续3个月我国城镇调查失业率维持在5.2%，就业形势整体稳定。不过，青年群体失业率仍在持续走高，6月份16-24岁劳动力调查失业率升至21.3%，年内以来在持续攀升。

付凌晖表示，从需求来看，过去三年受到疫情影响，居民和企业的收入都受到了一定影响，相应的市场需求的恢复需要一定时间。下一步，要千方百计增加城乡居民收入，继续落实好促消费政策，进一步释放消费潜力。今年以来，受到房地产市场调整的影响，固定资产投资增速有所放缓。投资是扩大内需的重要领域，下阶段要继续发挥政府投资和政策激励引导作用，有效带动激发民间投资，持续优化投资结构，提升投资效益。

• China’s summer grain production dropped for the first time in five years in the first half due to adverse weather, though output remained at a high level and the harvest was plentiful. The grain harvest fell 0.9 percent to 146 million tons in the first six months from a year earlier, according to official data released on Monday. Wheat production also fell 0.9 percent to 135 million tons.

  今年夏粮产量稳中略减:国家统计局7月17日发布的数据显示，2023年，我国夏粮产量14613万吨，虽与去年相比稳中略减，下降0.9%，但仍保持在较高水平，实现了丰收。其中，小麦总产量下降了0.9%，降至134.53百万吨。专家表示，夏粮单产下降主要是受河南等地严重“烂场雨”天气影响。

Greater Bay Area, Greater future

新使命，大未来

• The per capita disposable income of Guangdong residents was 25,956 yuan in the first half of the year, representing a year-on-year nominal increase of 4.9 percent, and grew by 4.1 percent in real terms, data from the provincial statistics bureau showed today. The per capita consumption reached 16,339 yuan, up 3.9 percent year on year, while consumer inflation rose 0.8 percent, 1.3 percentage points lower than the same period last year.

  广东发布上半年民生数据:7月18日，国家统计局广东调查总队发布今年上半年主要民生数据。数据显示，2023年上半年，广东居民人均可支配收入25956元，同比增长4.9%；扣除价格因素，实际增长4.1%。上半年，居民人均生活消费支出16339元，同比增长3.9%。居民消费价格同比上涨0.8%，涨幅比上年同期回落1.3个百分点。

Next on industry and company news

产业及公司新闻

• Adora Magic City, China#39;s first domestically built large cruise ship, embarked on its maiden sea trial on Monday morning. The tests were conducted to ensure the proper functioning of the ship#39;s equipment, particularly the quick recovery capability of the main propeller, in order to guarantee safe navigation at sea.

  首艘国产大型邮轮首次试航:7月17日，首艘国产大型邮轮“爱达·魔都号”离开中国船舶上海外高桥造船码头，开启海试之旅。据了解，瘫船试验与失电试验两项试验涉及全船设备运行，特别是主推进器的快速恢复功能，可保证船舶在海上的航行安全。

• China Eastern Airlines received a second domestically made C919 passenger plane in Shanghai on Sunday, following the first commercial flight of the aircraft on May 28, a sign that the carrier is speeding up the formation of a C919 fleet. The second aircraft will initially operate between Shanghai and Chengdu, Sichuan Province, similar to the first one delivered to the carrier. More domestic routes are expected to be added soon, China Eastern said.

  第二架C919入列东航:继5月28日东航开启C919大型客机全球首次商业载客飞行，7月16日，中国东方航空公司在上海正式接收第二架国产C919大型客机。此次接收的C919大型客机为东航首批采购5架C919客机中的第二架，标志着东航商业运营C919大型客机正在提速。根据东航规划，第二架C919将与首架机“搭档”，首先投入东航“上海虹桥—成都天府”空中快线，后续将逐步拓展更多航线。

• China#39;s summer box office has surged to nearly 9 billion yuan as of Monday, surpassing the earnings from the same period in 2019 and setting a new record. According to box office tracker Dengta, this year#39;s earnings from June 1 to July 17 have already reached 8.92 billion yuan as of Monday, surpassing the 7.02 billion yuan in 2019. The top two spots on China#39;s summer box office chart are currently held by the Chinese suspense crime film quot;Lost in the Starsquot; and the drama film quot;Never Say Never,quot; with respective earnings of 3.36 billion yuan and 1.6 billion yuan.

  2023暑期档票房破90亿:截至7月17日，2023年暑期档票房已飙升至近90亿元人民币。据灯塔专业版实时数据，截至7月17日，2023年暑期档总票房已达到89.2亿元，超过2019年同期水平，创下我国影史暑期档上半程最高票房纪录。《消失的她》《八角笼中》分别以接近34亿元、接近16亿元的票房位列暑期档票房前二。

• HoloMatic, a Chinese autonomous driving startup, has completed its 300 million yuan Series C3 round of financing to promote mass production. Guangzhou-based automotive giant GAC Group and state-owned investment firm Guangdong Technology Financial Group jointly led the latest round of financing, HoloMatic said in a statement today. The firm#39;s total Series C funding has exceeded 1 billion yuan, it added.

  禾多科技完成3亿元C3轮融资:7月18日，自动驾驶公司禾多科技宣布完成C3轮融资，由广东粤科金融集团和广汽资本共同领投，共融资3亿元人民币，从而C轮融资总金额超过10亿元。据悉，本轮融资资金将继续用于促进禾多科技自动驾驶技术前瞻研发、推动自动驾驶方案规模化量产落地。

Earnings reports express

财报速递

• Forty-five percent of the over 1,700 firms listed in the Chinese mainland that have released earnings forecasts expect their performances to have improved in the first half of the year. Some 771 firms expect their performance to have improved from a year earlier, according to media report. Some 590 companies, or 35 percent of the total, predicted to be at a loss, while 345 of them, or 20 percent of the total, expect their performance to worsen.

  近半数公司上半年度业绩预喜:Wind数据显示，截至7月16日18时，共有1713家A股上市公司披露2023年半年度业绩预告，773家预喜，预喜比例45.13%，其中略增83家、扭亏228家、续盈12家、预增450家，已披露业绩预告的上市公司整体保持较好盈利水平。约590家公司预计将亏损，而其中345家公司(约占总数的20%)预计业绩将恶化。

Switching gears to financial news

金融市场消息

• The 40 Chinese listed lenders will distribute cash bonuses worth 584.8 billion yuan this year, achieving a new record high. China#39;s six largest state-owned banks will distribute 404.9 billion yuan, equal to about 70 percent of the total. ICBC is the only one issuing over 100 billion yuan in cash dividends. Of the 40 banks, 36 shared over 20 percent of their profits to shareholders in the form of cash dividends. The ratio among the big state-owned lenders exceeded 30 percent.

  上市银行分红近5900亿元:7月进入现金分红季，上市银行近期密集“派红包”。根据Choice数据，在42家上市银行中，共有40家公布分红方案，总分红金额达到5848亿元，创历史新高。从规模上看，分红的“主力军”仍是国有大行。工商银行、建设银行、农业银行、中国银行、交通银行以及邮储银行分红或拟分红金额合计4049亿元，占总分红比例约70%。其中，工商银行以1082亿元分红金额位居榜首，且成为唯一一家分红超千亿的银行。此次实施分红的40家银行中，36家现金分红比例在20%以上。其中，国有大行分红率全部超30%。

Wrapping up with a quick look at the stock market

股市收盘情况

• Chinese stocks fell on Tuesday with the benchmark Shanghai Composite down 0.4 percent, and the Shenzhen Component slid 0.3 percent. Hong Kong’s Hang Seng index sank 2.1 percent and the TECH index dropped 2.4 percent.

  A股港股收跌:周二A股三大指数今日集体收跌，截至收盘，沪指跌0.37%，深成指跌0.34%，创业板指跌0.31%。沪深两市全天成交额7771亿元，两市个股涨跌参半，北向资金净卖出87.66亿元。港股恒指收跌2.05%，恒生科技指数跌2.35%。

Biz Word of the Day

财经词汇划重点

• A dividend is the distribution of a company#39;s earnings to its shareholders and is determined by the company#39;s board of directors. Dividends are often distributed quarterly and may be paid out as cash or in the form of reinvestment in additional stock.

  分红是股份公司将当年的收益按股票份额的一定比例支付给投资者的红利，是上市公司对股东的投资回报，是股东收益的一种方式。

Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI

Sound Editor: Stephanie LI

Graphic Designer: ZHENG Wenjing, LIAO Yuanni

Produced by 21st Century Business Herald Dept. of Overseas News.

Presented by SFC

编委: 于晓娜

策划、编辑:李艳霞

播音:李莹亮

撰稿:李莹亮，实习生黄青衣

音频制作:李莹亮

设计:郑文静、廖苑妮

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