National Bureau of Statistics: High-end manufacturing and the digital economy drove over 40% of China's H1 growth.

At a press conference held by the State Council Information Office on July 15, Mao Shengyong, Deputy Director of the National Bureau of Statistics, stated that preliminary estimates show new growth drivers represented by high-end manufacturing, the digital economy and modern services contributed more than 40% to China’s economic growth in the first half of this year. The economy is clearly shifting toward higher-quality, innovation-driven growth, with this trend accelerating.

In the first six months, the value-added of high-tech manufacturing enterprises above designated size rose 13.3% year-on-year. The aerospace equipment manufacturing sector expanded by 16.3%, while the electronics and communications equipment industry posted a 17% increase. Artificial intelligence-related sectors including integrated circuit manufacturing and intelligent vehicle equipment manufacturing maintained robust growth above 30%.

Green transition also picked up speed. The retail penetration rate of new energy vehicles exceeded 60% for three consecutive months in the first half, lifting lithium-ion battery output by 39.3%. In recent years, the shift from old to new growth drivers has quickened. The expanding new growth engines are becoming the backbone of China’s economy.