China-Economic Performance/H1

Shotlist

Beijing, China – July 15, 2022 (CCTV – No access Chinese mainland)
1. Press conference in progress
2. SOUNDBITE (Chinese) Fu Linghui, spokesman, National Bureau of Statistics (NBS) (partially overlaid with shot 3):
“First, China has overcome difficulties to maintain economic growth. Since the beginning of this year, the international situation has been complex and grim, and world economic growth has slowed markedly. The frequent and sporadic occurrence of the epidemic in China has severely impacted the stable operation of the economy. China’s gross domestic product (GDP) expanded 2.5 percent year on year in the first half of the year. In the second quarter, the country’s GDP grew 0.4 percent year on year. This was achieved against the backdrop of the decline in major indicators of production demand in April and May. I should say it was not easy and has shown the strong resilience of our economy.”
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3. Reporters
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4. Press conference in progress
5. SOUNDBITE (Chinese) Fu Linghui, spokesman, National Bureau of Statistics (NBS) (partially overlaid with shot 6):
“Second, the overall price situation was stable. In the first half of this year, China’s consumer price index (CPI) rose 1.7 percent year on year, lower than the target of 3 percent for the year. The core CPI, which excludes food and energy, rose 1 percent and remained basically stable. The price increase in China is significantly lower than the 8 percent or more in Europe countries and the United States, which is conducive to the smooth operation of the economy and improvement of people’s livelihood.”
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6. Various of Reporters
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7. Reporters
8. SOUNDBITE (Chinese) Fu Linghui, spokesman, National Bureau of Statistics (NBS) (partially overlaid with shot 9):
“Third, employment and people’s livelihood were guaranteed. In the first half of this year, China created a total of 6.54 million jobs in its urban areas. Since May, the surveyed urban unemployment rate has declined for two consecutive months, reversing the earlier trend of rising. In June, the surveyed urban unemployment rate fell to 5.5 percent. Residents’ income has increased steadily. In the first half of this year, the actual per capita disposable income increased by 3 percent year on year.”
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9. Various of Reporters
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10. Press conference in progress
11. Reporters
12. SOUNDBITE (Chinese) Fu Linghui, spokesman, National Bureau of Statistics (NBS) (starting with shot 11):
“Fourth, the resilience of imports and exports has emerged. In the first half of this year, China’s foreign trade of goods jumped 9.4 percent year on year, among which, exports rose 13.2 percent year on year. China’s foreign trade growth accelerated to 14.3 percent in June year on year, up 4.7 percentage points from the previous month.”
13. Reporters
14. SOUNDBITE (Chinese) Fu Linghui, spokesman, National Bureau of Statistics (NBS) (ending with shot 15):
“Fifth, the momentum of transformation and upgrading continued. Despite a complex and grim external environment and mounting downward pressure on the domestic economy, China’s economy continued to be more innovation-driven and its momentum of upgrading development remained unchanged. New drivers grew rapidly. In the first half of this year, the added value of industries above designated size grew by 9.6 percent year on year, and investment in high-tech industries grew by 20.2 percent, both of which maintained rapid growth.”
15. Various of reporters
16. Press conference in progress

Storyline

China’s economy has displayed a generally stable trend after gradually recovering since the beginning of 2022 as anti-epidemic outcomes and pro-growth policies take effect, a spokesman for the National Bureau of Statistics (NBS) said on Friday.

Fu Linghui, the NBS spokesman briefed the media on the characteristics of national economic performance in the first half of 2022 in Beijing.

“First, China has overcome difficulties to maintain economic growth. Since the beginning of this year, the international situation has been complex and grim, and world economic growth has slowed markedly. The frequent and sporadic occurrence of the epidemic in China has severely impacted the stable operation of the economy. China’s gross domestic product (GDP) expanded 2.5 percent year on year in the first half of the year. In the second quarter, the country’s GDP grew 0.4 percent year on year. This was achieved against the backdrop of the decline in major indicators of production demand in April and May. I should say it was not easy and has shown the strong resilience of our economy,” said Fu.

Fu said due to geopolitical conflicts and the expansion of liquidity in major economies, international commodity prices have remained high since the beginning of this year. China has stepped up efforts to ensure supply and price stability in the market, focused on grain and energy production and ensured overall price stability in the domestic market.

“Second, the overall price situation was stable. In the first half of this year, China’s consumer price index (CPI) rose 1.7 percent year on year, lower than the target of 3 percent for the year. The core CPI, which excludes food and energy, rose 1 percent and remained basically stable. The price increase in China is significantly lower than the 8 percent or more in Europe countries and the United States, which is conducive to the smooth operation of the economy and improvement of people’s livelihood,” Fu said.

The overall employment situation has remained stable, according to Fu.

“Third, employment and people’s livelihood were guaranteed. In the first half of this year, China created a total of 6.54 million jobs in its urban areas. Since May, the surveyed urban unemployment rate has declined for two consecutive months, reversing the earlier trend of rising. In June, the surveyed urban unemployment rate fell to 5.5 percent. Residents’ income has increased steadily. In the first half of this year, the actual per capita disposable income increased by 3 percent year on year,” Fu introduced.

In the first half of this year, China’s foreign trade demonstrated strong resilience, overcoming the adverse effects of various factors at home and abroad, Fu said.

“Fourth, the resilience of imports and exports has emerged. In the first half of this year, China’s foreign trade of goods jumped 9.4 percent year on year, among which, exports rose 13.2 percent year on year. China’s foreign trade growth accelerated to 14.3 percent in June year on year, up 4.7 percentage points from the previous month,” said Fu.

“Fifth, the momentum of transformation and upgrading continued. Despite a complex and grim external environment and mounting downward pressure on the domestic economy, China’s economy continued to be more innovation-driven and its momentum of upgrading development remained unchanged. New drivers grew rapidly. In the first half of this year, the added value of industries above designated size grew by 9.6 percent year on year, and investment in high-tech industries grew by 20.2 percent, both of which maintained rapid growth,” Fu told the press.

Fu said that in the next stage, efforts should be made to effectively coordinate epidemic prevention and control with economic and social development, promote the implementation of a package of policies and measures for steady growth, and boost sustained and sound economic development.