A String Of Key Chinese Economic Data Were Released, Including GDP, Fixed Asset Investment And Industrial Capacity Utilization Rate

In the first half of 2023, GDP was up 5.5% year-on-year

On July 17, the National Bureau of Statistics of China issued the Semi-annual Report of China’s economy, showing that the GDP in the first half of this year was 59,303.4 billion yuan with an increase of 5.5% year-on-year at constant prices, 1 percentage point faster than the first quarter. On a quarterly basis, GDP grew by 4.5% in the first quarter and 6.3% in the second quarter.

NBS: Investment in fixed assets increased by 3.8% in the first half year

Data from the National Bureau of Statistics of China showed that in the first half of this year, the national fixed asset investment, excluding rural households, was 24,311.3 billion yuan, up 3.8% year-on-year. Among them, private fixed asset investment was 12,857 billion yuan, down 0.2 percent year-on-year. On a month-on-month basis, investment in fixed assets, excluding rural households, rose 0.39% in June.

NBS: National industrial capacity utilization rate was 74.5% in the second quarter of 2023

According to the data from the National Bureau of Statistics of China, China’s industrial capacity utilization rate was 74.5% in the second quarter, up 0.2 percentage points from the first quarter. In the second quarter, the mining industry capacity utilization rate was 74.8%; the Manufacturing capacity utilization rate was 74.8%; the capacity utilization rate of electricity, heat, gas, and water production and supply was 71.4%.