Three major driving forces of economic growth

Just released economic data show that China's economic growth in the first half of the year 6.9% year-on-year, stable and improving trend is more obvious. July 18, the National Development and Reform Commission spokesman Yan Pengcheng said that China's economic structure is constantly adjusting and optimizing, the development of kinetic energy in an orderly transformation, China's economy is fully capable of, and have the conditions to continue the current stable and improving development trend, to achieve the "double medium-high" development. The Chinese economy is fully capable of continuing the current stable and improving development trend and realizing the "double medium-high" development.

"This achievement is better than expected, and it is not easy to come by." Yan Pengcheng pointed out that the current momentum of China's economic growth mainly comes from four aspects:

One is that consumption has become the main driving force of economic growth. In the first half of the year, the contribution rate of consumption to economic growth reached 63.4 percent, 30.7 percentage points higher than that of investment.

The second is that the leading role of innovation is becoming more and more prominent, and the new kinetic energy is growing faster. New industries, new business forms, new modes and new products are constantly emerging and growing, injecting new and strong impetus for the sustained and healthy development of China's economy.

Thirdly, the effect of the supply-side structural reform has been gradually released, and the supply and demand relationship in the market has improved significantly. With the advancement of production capacity, a large number of zombie enterprises gradually withdrew from the industry to make room for the development of other high-quality enterprises, not only to optimize the allocation of resources and productivity layout of the industry, but also to promote the industry's supply and demand structure, business conditions and market expectations have improved significantly.

The fourth is the continuous optimization of the environment for enterprise development, effectively stimulating the vitality of the micro-principal. In the first half of this year, the country registered 2.91 million new enterprises, an increase of 11.1% year-on-year.

In the first half of this year, non-financial outward foreign direct investment fell 45.8% year-on-year. Yan Pengcheng said, which has a higher base in the same period last year, but also China's economic development continues to improve, enterprises in the country's investment confidence in the reasons; both by the external environment, uncertainty increases, the impact of enterprises to invest in foreign investment more cautious, but also with the end of last year to start the relevant departments to strengthen the authenticity of foreign investment compliance review.

"We support domestic enterprises with the ability and conditions to carry out real and compliant outward investment activities, and support enterprise-oriented, market-oriented, foreign investment projects in accordance with commercial principles and international practices, in particular, support for enterprises to invest in and operate the 'Belt and Road' construction and international production capacity cooperation projects. International production capacity cooperation projects." Yan Pengcheng said, the relevant departments will continue to pay attention to real estate, hotels, cinemas, entertainment, sports clubs and other areas of irrational outward investment tendency, to prevent the risk of foreign investment, suggesting that the relevant enterprises to make prudent decisions.