Real estate investment will return to a reasonable level, National Bureau of Statistics: Youth unemployment rate is expected to gradually decrease, household income | consumption | youth

Release time:Apr 14, 2024 06:46 AM

The gross domestic product (GDP) in the first half of this year was 59303.4 billion yuan, with a year-on-year increase of 5.5% at constant prices, which is 1 percentage point faster than the first quarter. At the press conference held by the State Council Information Office today, Fu Linghui, spokesperson for the National Bureau of Statistics and Director of the Department of Comprehensive Statistics of the National Economy, introduced relevant information and answered hot topics such as the consumer market, real estate investment, and employment situation in the second half of the year.

Consumption is expected to continue to expand in the second half of the year

In the first half of the year, the recovery trend of domestic consumption improved. The total retail sales of consumer goods exceeded 20 trillion yuan, reaching 22.8 trillion yuan, a year-on-year increase of 8.2%, significantly faster than the full year of last year.

Fu Linghui stated that the consumption potential was gradually released in the first half of the year, and the recovery trend of consumption was positive, promoting economic development and improving people's livelihoods. From the perspective of the whole year, there are many favorable conditions supporting consumption growth, and consumption is expected to continue to expand.

Firstly, there is enormous potential for consumption. At present, China is in a stage of rapid development of consumption structure upgrading, with steady progress in new urbanization, effective implementation of rural revitalization, and continuous improvement of consumption related infrastructure, which is conducive to unleashing consumption potential. Secondly, the consumption capacity is gradually improving. Since the beginning of this year, the economy has recovered well, the overall employment situation has improved, and the income of residents has continued to increase, which is conducive to enhancing their consumption ability and increasing their willingness to consume. Thirdly, the consumption environment continues to improve. The economy and society have fully resumed normal operation, and consumption scenarios are constantly expanding. New consumption scenarios are also constantly emerging, adding vitality to consumption recovery. We also need to see that new consumption growth points represented by green consumption and intelligent product consumption are gradually forming, which will help promote the development of consumption.

He said that to further unleash consumption potential, we need to do everything possible to increase the income of urban and rural residents, continue to implement policies to promote consumption, optimize the consumption environment, increase the supply of high-quality consumer products, cultivate and strengthen emerging consumption, and promote stable, sustainable, and healthy economic development.

Total employment pressure and structural issues still exist

According to Fu Linghui, in the first half of the year, 6.78 million new urban jobs were created nationwide, an increase of 240000 compared to the same period last year. In the second quarter, the average national urban survey unemployment rate was 5.2%, a decrease of 0.3 percentage points from the first quarter. In June, the unemployment rate of urban labor force aged 25-59 was 4.1%, which is lower than the level before the epidemic in 2019. In addition, at the end of the second quarter, there were 18.705 million rural laborers who went out to work, a year-on-year increase of 3.2%, indicating that the willingness of workers to enter the labor market in search of jobs is increasing.

He said that the economic recovery is improving, the service industry is accelerating growth, and stable employment policies are beginning to take effect, promoting overall improvement in employment. However, the overall pressure and structural problems of current employment still exist, and the difficulties of young people in finding jobs and recruiting in some industries coexist. Continuous efforts are needed to stabilize employment.

In the next stage, as the economy continues to recover and the demand for employment continues to expand, coupled with the continued effectiveness of stable employment policies, the employment situation is expected to remain generally stable. As young graduates gradually enter the workforce during the graduation season, the youth unemployment rate is expected to gradually decrease.

Continue to support the demand for rigid and improved housing

Fu Linghui said that the overall real estate market showed a stabilizing trend in the first half of the year. The sales area of commercial housing in China decreased by 5.3% year-on-year, while sales increased by 1.1%, both of which were significantly better than the entire year of last year. The decrease in sales area has significantly narrowed, and sales revenue has turned from a decrease to an increase. In the first half of the year, investment in real estate development decreased by 7.9% year-on-year, and the in place funds of real estate development enterprises decreased by 9.8% this year, which has narrowed to varying degrees compared to the entire year last year.

In the next stage, we must adhere to the positioning of "housing for living, not for speculation", accelerate the establishment of a housing system with multiple sources of supply, multi-channel guarantees, and a combination of rental and purchase, implement a long-term mechanism for the stable and healthy development of the real estate market, continue to support the demand for rigid and improved housing, standardize the development of the housing rental market, promote the smooth operation of the real estate market, and ensure the needs of people's livelihood.

He said that in the future, real estate investment will continue to operate at a low level. But as the real estate market gradually adjusts, real estate investment will gradually return to a reasonable level.

The UK has formed the largest exhibition group, with over 2200 companies from 28 of the top 30 countries and regions participating in the Service Trade Fair. Institutions | Organizations | Enterprises

The 2023 China International Trade in Services Fair will be held in Beijing from September 2nd to 6th. According to a press conference held by the State Council Information Office in Beijing today, this year is the first year for China to fully resume offline exhibitions. This year's Fair for Trade in Services has increased its offline invitation efforts, highlighting internationalization, authority, and professionalism, further promoting exchanges and negotiations between exhibitors, mutually beneficial cooperation, and win-win outcomes. More than 500 Fortune Global 500 and leading enterprises will participate in the 2023 Global Service Trade Summit offline, with an expanded scale and a higher level of offline guests. Some foreign dignitaries, ministerial level guests, and international organization leaders will be invited to attend and deliver speeches. The host country of this year's Service Trade Fair is the United Kingdom, which has formed the largest exhibition group since the exhibition. 51 countries and 24 international organizations will be established offline in the name of national governments or headquarters

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The Chinese Academy of Social Sciences releases major achievements on a monthly basis, and the "History | Theory | Series of the Party's Centennial Struggle Historical Experience Series" is published

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