In the first half of the year, the electricity consumption and freight volume of the whole society increased rapidly, the output of key products increased steadily, the PMI index remained at a high level, and market confidence was relatively stable. A series of physical quantity indicators not only have a faster growth rate, but also a structurally optimized, and the economic stability is relatively stable.

First, the electricity consumption of the whole society has increased rapidly, and the electricity consumption structure has been continuously optimized. In the first half of the year, the total electricity consumption of the whole society was 3.23 trillion kWh, a year-on-year increase of 9.4%, and the growth rate increased by 3.1 percentage points year-on-year. The electricity consumption structure continued to be optimized, and the industrial electricity consumption increased by 7.5%, an increase of 1.4 percentage points; among the four high-energy-energy industries, the electricity consumption increased by 5.1%, down 3.3 percentage points; the high-tech manufacturing and equipment manufacturing industries used electricity. Faster growth. The electricity consumption of the service industry continued to grow at a high rate. In the first half of the year, it increased by 14.7%, an increase of 5.4 percentage points. The proportion of electricity consumption in the whole society further increased to 15.7%. In the service industry, electricity consumption in industries closely related to information technology continued to grow at a high rate, and electricity consumption in information transmission and software and information technology services, real estate, wholesale and retail, transportation, warehousing and postal services increased by 25.5%. 18.8%, 14.1% and 13%.

Second, the freight volume has grown steadily and rapidly, and the adjustment of freight structure has achieved initial results. In the first half of the year, the total freight volume of the whole society was 23.2 billion tons, a year-on-year increase of 6.9%, and the growth rate was 0.6 percentage points higher than that of the first quarter. The advantages of railway bulk materials transportation were further exerted. In the first half of the year, the cargo volume was 2 billion tons, up 7.7% year-on-year, accounting for 8.4% of the total social cargo volume. The coastal ports in Tianjin Hebei Province basically realized coal port transportation, Caofeidian and other ports. The volume of port ore has increased significantly, and the “transfer iron” has achieved results; the container sea-rail combined transport has grown rapidly, and the container traffic volume in the first half of the year has increased by 44.5%. The freight volume of the road completed was 18 billion tons, an increase of 7.7%. The volume of express delivery business was about 22 billion pieces, an increase of 27%.

Third, the output of key products has grown steadily, and new products that are in line with the direction of industrial upgrading have grown at a faster rate. In the first half of the year, the output of major energy raw materials increased steadily, and the output of coal, gasoline and natural gas increased by 3.9%, 6% and 4.6% respectively. Machinery and electronic products grew steadily, new products grew faster, new energy vehicles increased by 88.1%, excavators, loaders and cranes increased by 43.5%, 29.8% and 39.6% respectively, and industrial robots increased by 23.9%. Equipment increased by 13.3% and integrated circuits increased by 15%. The growth rate of light industrial textile consumer products is stable. Air-conditioning production increased by 14.4%, smart TV production increased by 16.7%, and dairy production increased by 8.1%.

Fourth, the PMI continued to be at a relatively high level, and the business climate was generally better. In June, the manufacturing PMI was 51.5%, 0.2 percentage points higher than the average of the first half of the year, and the overall expansion was maintained. Among them, pharmaceutical manufacturing, special equipment manufacturing, computer communication electronic equipment and instrumentation manufacturing PMI are located in the higher economic range; production index and new order index are 53.6% and 53.2%, respectively, higher than the first half of the average of 0.6 and 0.4 Percentage points, market supply and demand continued to expand. The non-manufacturing industry maintained a steady and good development momentum. In June, the non-manufacturing business activity index was 55%, which was 0.2 percentage points higher than the average of the first half of the year, and steadily increased for four consecutive months. Among them, railway transportation, air transportation, telecommunications, banking and other industries are located in the high boom area.

Fifth, market confidence is relatively stable, and all parties are generally optimistic about future development expectations. According to a survey conducted by the People's Bank of China, the entrepreneurial confidence index in the second quarter was 75.8%, up 10.4 percentage points year-on-year, the highest level since 2011; the bank's macroeconomic confidence index was 81.2%, an increase of 13.4 percentage points, since 2011. The second highest level. According to a survey by the National Bureau of Statistics, the China Consumer Confidence Index for May was 122.9, 16.1 points higher than the average since 2012. It was in the historical high range since the survey was launched in 1998; it reflects consumers’ views on the current situation. The satisfaction index was 118.1 points, reflecting the consumer's expectation index of 126.1 points, which is 16.7 points and 15.8 points higher than the average since 2012.

The physical quantity index is an important window for observing the economic operation situation. In the first half of the year, a series of physical quantity indicators continued to improve, which profoundly reflected the characteristics of stable economic operation and structural optimization and upgrading. Although the current external environment uncertainty has increased, China's economic stability is still developing steadily, and the pace of economic development towards high quality is still stable.

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