Oct 26, 2023 11:31 AM

(AI) Caixin Weekly | Half-Year Report on Post-Pandemic Economic Recovery
财新周刊｜疫后经济复苏半年报

00:00

00:00/00:00

Listen to this article 1x

This article was translated from Chinese using AI. The translation may contain inaccuracies. Click the button on the right to hide or reveal the original version.

- China's GDP growth in Q2 2023 was 6.3%, weaker than market expectations and slower than Q1 growth of 7.5%.- The recovery of the Chinese economy in H1 2023 was driven by improved employment, increased household income, and stronger domestic demand.- However, concerns remain about the slowdown in economic recovery, particularly in sectors such as real estate and exports. The government is expected to implement moderate policy measures to support the economy in the second half of the year.

　　文｜财新周刊程思炜

By | Caixin Weekly, Cheng Siwei

　　在2023年一季度经济超预期复苏后，4月起多项经济指标表现不及预期，各方对复苏放缓的担忧开始加深。上半年中国经济修复进程如何？

After an unexpected economic recovery in the first quarter of 2023, several economic indicators underperformed starting from April, deepening concerns about a slowdown in recovery. How has the process of China's economic repair been in the first half of the year?

　　国家统计局7月17日发布的数据显示，二季度GDP（国内生产总值）同比增长6.3%，较一季度加快1.8个百分点，但弱于此前市场预期；从环比看，二季度GDP增长0.8%，虽然强于预期，但较一季度放缓1.4个百分点。考虑到2022年同期低基数，二季度GDP的两年平均增速仅为3.3%，明显低于一季度的4.6%，二季度GDP平减指数同比下降1.4%，2020年下半年以来首次为负，也显示需求趋弱。（可视化呈现GDP、消费、地产投资等指标走势，见财新数据通《【数据深阅读】二季度经济修复弱于预期结构性复苏加剧“温差”》）

Data released by the National Bureau of Statistics on July 17 showed that China's GDP (Gross Domestic Product) grew by 6.3% year-on-year in the second quarter, accelerating by 1.8 percentage points from the first quarter, but weaker than market expectations. On a quarterly basis, second-quarter GDP growth was 0.8%, stronger than expected but slowing by 1.4 percentage points from the first quarter. Considering the low base in the same period of 2022, the two-year average growth rate of second-quarter GDP was only 3.3%, significantly lower than the first quarter's 4.6%. The index of average reduction in second-quarter GDP fell by 1.4% year-on-year, negative for the first time since the second half of 2020, also indicating weakening demand. (For a visual presentation of trends in GDP, consumption, real estate investment and other indicators, see Caixin Data's "Deep Reading: Second Quarter Economic Recovery Weaker Than Expected; Structural Recovery Intensifies 'Temperature Difference'".)

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Disclaimer

Caixin is acclaimed for its high-quality, investigative journalism. This section offers you a glimpse into Caixin’s flagship Chinese-language magazine, Caixin Weekly, via AI translation. The English translation may contain inaccuracies.

Share this article

Open WeChat and scan the QR code

(AI) Caixin Weekly | Half-Year Report on Post-Pandemic Economic Recovery财新周刊｜疫后经济复苏半年报

(AI) Caixin Weekly | Half-Year Report on Post-Pandemic Economic Recovery
财新周刊｜疫后经济复苏半年报