Halfway through the first year of the "15th Five-Year Plan", how is China's economy in the first half of the year?

The vivid development picture is a portrayal, and the answers can be found in the heavy economic data.Industries such as electronic information, embodied intelligence, and commercial aerospace are full of new ideas, and cultural tourism, digital, green, and healthy consumption are in the ascendant. From the historic breakthrough in power generation installed capacity to the explosive growth in the average daily use of words, from the accumulation of trade-in sales of consumer goods, to the accumulation of imports and exports of goods, China's economy is stable and making progress, and is improving in the new direction.

General Secretary Xi Jinping emphasized in his 2026 New Year's message that "we must anchor our goals and tasks, strengthen our confidence, take advantage of the situation, and solidly promote high-quality development."Looking at the mid-year development picture, analyzing economic data, and perceiving the resilience and vitality of the Chinese economy can strengthen our confidence and confidence in doing economic work in the second half of the year.

The stable development trend can be seen from the fact that the installed power generation capacity exceeds 4 billion kilowatts

On the coast of the South China Sea, green power is gaining momentum.On June 22, Longyuan Power’s Hainan Dongfang Qiyuan Sea Wind Farm Unit 9 was successfully connected to the grid to generate electricity.When the wind farm is fully put into operation in August, it will be able to provide an average of 1.6 billion kilowatt-hours of clean electricity annually, meeting the annual electricity needs of 625,000 households.

The land of Western Shandong, a "critical" breakthrough.China's Datang Shandong Yuncheng 630°C National Power Demonstration Project has recently been put into commercial operation, achieving a thermal efficiency of over 50% for the first time in the field of coal-fired thermal power.

From south to north, from wind power to thermal power, each project marks the upward climb of the power industry - as of the end of May, the country's cumulative installed power generation capacity was 4.01 billion kilowatts, a year-on-year increase of 11.0%, ranking first in the world.

It took 8 years to double from 1 billion kilowatts to 2 billion kilowatts; it took 4 years and 4 months to go from 2 billion kilowatts to 3 billion kilowatts; now, it only takes about 2 years for my country’s cumulative installed power generation capacity to increase from 3 billion kilowatts to 4 billion kilowatts.

The installation speed continues to accelerate, behind which is the solid support of a complete industrial system.

From silicon materials, cells, and inverters to complete machines, blades, and towers, China has the most complete new energy equipment industry chain in the world. About 80% of the world's photovoltaic modules and 60% of wind power equipment are produced in China."The construction of supporting capabilities such as ultra-high voltage transmission, pumped hydro energy storage, and new energy storage has been accelerated, so that large-scale new installed capacity can be "built, delivered, and consumed." Jiang Debin, deputy director of the Statistics and Digital Intelligence Department of the China Electricity Council, said that my country's complete industrial system is the key guarantee for turning 4 billion kilowatts from drawings into reality.

The installation speed continues to accelerate, demonstrating the firm determination to ensure energy security.

In the first half of the year, the global energy market fluctuated violently, but our country's energy system withstood the impact, and the overall balance between supply and demand showed strong resilience.

Where does resilience come from?Persist in the development and reserve of fossil energy, stabilize oil production, and increase the supply of natural gas; insist on increasing the supply of non-fossil energy, simultaneously develop wind, solar, hydropower and other energy sources, and strive to build a new power system; insist on diversifying energy imports, strengthen mutually beneficial cooperation with key energy resource countries, and ensure energy security under open conditions...Always give top priority to energy security, accelerate the construction of new energy systems, and continuously enhance energy security capabilities.

The stability of energy supply is a microcosm of China’s economic stability in the first half of the year.

Grain production is stable.As of June 18, the national summer grain wheat harvest progress has exceeded 96%.Generally speaking, this year's summer grain production has withstood the impact of multiple rounds of large-scale heavy rainfall, the output situation is clear, and a bumper harvest is a foregone conclusion.

The industrial market is stable.The world's largest diameter earth pressure balance shield high-speed rail tunnel shield machine has left the factory, and the country's first 550-megawatt F-class gas turbine project has been put into full-capacity production.In May, the added value of the equipment manufacturing industry above designated size increased by 9.5% year-on-year, contributing 78.4% to the growth of all industries above designated size, and its role as "ballast stone" continued to be highlighted.

The employment situation is stable.In May, the national urban surveyed unemployment rate was 5.1%, down 0.1 percentage points from the previous month, and the employment situation was generally stable.

From energy to food, from industry to employment, the word "stability" runs through the whole situation.By practicing internal skills and strengthening ourselves, China's economy will move forward steadily without fear of wind and rain.

Look at the new industry momentum from the daily average call volume of word units reaching hundreds of billions

Word units are the smallest units for processing information in large models.Every question a user asks to artificial intelligence (AI) and every piece of content generated by AI will generate word elements.

Walking into the chlor-alkali workshop of Shandong Haihua Group, dozens of parameters such as vibration, temperature, and pressure of the chlorine compressor were captured by the intelligent agent in real time and converted into a "dynamic health portrait", which greatly reduced the occurrence of "unplanned shutdowns.""By accessing the company's proprietary data and tens of thousands of professional knowledge documents, the agent can grasp indicators such as caustic soda output and average power consumption in real time, helping to increase production and reduce energy consumption," said Wei Daisen, chairman of Inspur Digital Enterprise Technology Co., Ltd.

Individual developer Wu Ruimeng received a project to create a website for a door and window company. He immediately thought of the "AI fitting" scene and used a code-free application development platform to directly present the screen window effect on the product page. "I am not a product manager, norI don’t understand marketing, but AI can help me supplement my capabilities.”

Empowering thousands of industries and entering thousands of households, my country’s AI field has grown explosively in the first half of this year. As of the end of May, my country’s average daily word usage has reached hundreds of billions, leading the world in scale.

At the beginning of 2024, the average daily word usage in our country was only 100 billion; by the end of 2025, it jumped to 100 trillion; since this year, this indicator has continued to grow rapidly, reflecting the active development trend of my country's smart economy.Jinjie Huo, President of International Data Corporation (IDC) China, predicts that by 2029, China’s generative AI market will be close to US$100 billion, with a compound growth rate of 68% from 2024 to 2029, making it one of the most active AI application markets in the world.

The accelerated conversion of old and new driving forces is a distinctive feature of the current economic operation.The number of word element calls continues to break through, and AI is accelerating its empowerment, demonstrating the new momentum of China's industry.

The industrial structure is “advancing”.From January to May this year, high-tech manufacturing contributed nearly 40% of industrial growth, and equipment manufacturing contributed nearly 60% of industrial growth. High-end, intelligent, green, and integrated transformations have achieved remarkable results.

Emerging industries are “rising”.In the first five months, investment in high-tech industries increased by 4.5% year-on-year, investment in integrated circuit manufacturing and lithium-ion battery manufacturing increased by 11% and 24.9% respectively, and investment in the information services industry increased by 13.8%.

By promoting industrial innovation through technological innovation and accelerating the development of new productive forces, the new momentum for China's economic development has become increasingly strong.

Looking at the consumer market from the trade-in sales of consumer goods exceeding 1 trillion yuan

“Originally I just wanted to replace a TV, but after calculating it was more cost-effective to replace the refrigerator together!” At Suning.com South Street Store in Xining, Qinghai, citizen Li Jiancheng made a detailed calculation: an 85-inch TV plus a refrigerator originally cost more than 10,000 yuan. After adding trade-in subsidies and multiple discounts from manufacturers and stores, the purchase price was less than 8,000 yuan.

Thousands of miles away in Yixing, Jiangsu Province, consumer Guo Wei placed an order immediately after trying out new products at a mobile phone store.A 4-year-old mobile phone is discounted at 400 yuan, plus more than 400 yuan in state subsidies. A new mobile phone with an original price of 2,800 yuan only costs less than 2,000 yuan. "The process is simple and smooth, and it is all done in a few minutes."

Since this year, the National Development and Reform Commission, the Ministry of Commerce and other departments have optimized and improved the consumer goods trade-in policy. Local governments have implemented precise policies and refined services, focused on the needs of the masses, and continued to release policy dividends.As of June 20, the trade-in sales of consumer goods this year exceeded 1 trillion yuan, benefiting 136 million people, and the subsidy fund leveraging ratio increased from 1:7.8 in 2025 to 1:10.3.

Benefiting the people, the people’s sense of gain continues to increase.In response to residents’ needs for new technologies, new products, and new scenarios, this year’s policy includes smart glasses within the scope of subsidies for the first time.Market data confirms the results: From January to May, retail sales of smart glasses and other wearable smart devices more than doubled year-on-year.

With quality improvement and capacity expansion, the consumer market has become more popular.In the field of home appliances, the trade-in of old products for new ones focuses on six major categories of products, with a focus on subsidizing first-class energy efficiency and first-class water efficiency products.Under the guidance of policies, the potential of green smart consumption has been released at an accelerated pace. From January to May, the retail sales of medium and high energy-efficiency home appliances in units above designated size increased by more than 30%. Green consumption has become an important engine for market growth.Driven by the vehicle trade-in policy, my country's new energy passenger vehicle market penetration rate continues to increase, reaching 61.4% in April this year and 62.9% in May, exceeding 60% for two consecutive months, setting a record high.

The trillion-yuan scale of consumer goods trade-in is a vivid reflection of the vitality of China's ultra-large-scale market.

Looking across the country, new smart products such as smart watches and smart glasses are very popular, and sales have doubled; the average daily express delivery volume across the country has reached more than 550 million pieces, and the flow of people, logistics, information, and capital flow are efficient; consumption in tourism, cultural performances, and sports events continuesAs the temperature rises, "secondary sales" of tickets for popular performances have become the norm... From commodity consumption to service consumption, from green consumption to smart consumption, consumption scenarios continue to innovate and potential is continuously released, and their fundamental role in economic development becomes more prominent.

By making good use of the advantages of the ultra-large market and fully stimulating consumption potential, China's economy is constantly radiating new vitality and vitality.

Look at the integration of openness and cooperation from the fact that imports and exports to Africa exceeded 1 trillion yuan for the first time in the same period in history

As the night gets darker, trucks loaded with fresh fruits rush out in Shenzhen, Guangdong, delivering sweet fruits from South Africa to supermarkets and fruit and vegetable markets everywhere."Tariffs were reduced from 10% to 0, which directly saved nearly 20,000 yuan in import costs for this batch of apples." Luo Shengcong, general manager of Shenzhen Jianchengye International Freight Forwarding Co., Ltd. said with emotion.

This year marks the 70th anniversary of the establishment of diplomatic relations between China and Africa.Starting from May 1, China will fully implement zero-tariff measures with 53 African countries that have diplomatic relations with China."Zero tariffs will attract more Chinese companies to set up factories in Africa, and local service teams such as supporting recycling, skills training, maintenance and after-sales services will also follow up, forming an increasingly complete ecological chain." Wang Haiguang, deputy general manager of the overseas business department of Zhejiang Zhongzhe New Energy Co., Ltd., is very optimistic about the growth space of the African new energy market.

Customs data shows that in the first five months of this year, my country’s imports and exports to African countries were 1.14 trillion yuan, exceeding 1 trillion yuan for the first time in history, a year-on-year increase of 18.2%.

The new breakthrough in China-Africa trade reflects China’s solid footprint in expanding high-level opening up.

Tariffs are a "subtraction" and trade is an "addition."As early as 2005, China began to grant zero-tariff treatment to some products from the least developed countries in Africa. Since then, the scope of tax items, the number of beneficiary countries, and supporting facilitation measures have been upgraded.This year, China became the first major economy in the world to implement unilateral and comprehensive zero tariffs on all African countries with diplomatic relations and all least developed countries with diplomatic relations.Every initiative to expand the market has become an accelerator for the growth of China-Africa trade. my country has been Africa's largest trading partner for 17 consecutive years.

Tariffs are a "subtraction" and integration is an "addition."Zero tariffs will attract other trading partners, including China, to increase investment in Africa, bring capital, technology, equipment and management experience, and form a new model of industrial chain collaboration of "production, processing in Africa, and then exporting to China".

The new breakthrough in China-Africa trade is a footnote to the integration of China’s economic opening up and cooperation this year.The zero-tariff policy has been implemented in 63 countries, 24 free trade agreements have been signed with 31 countries and regions, the number of free trade pilot zones has increased to 23, the Chain Expo, the China International Import Expo, and the "Export to China" series of activities have been held on a regular basis, and the "Action Plan for Utilizing Foreign Investment to Consolidate and Promote Optimization" has been studied and released... China continues to open its market and share development opportunities with the world.From January to May, my country's total import and export value of goods trade was 20.68 trillion yuan, a year-on-year increase of 15.3%; 25,297 foreign-invested enterprises were newly established across the country, a year-on-year increase of 5.3%.

Only through integration can there be growth, and only through openness can we achieve win-win results.At a time when the global economic and trade landscape is undergoing profound adjustments, China is continuing to inject stable and certain opening-up power into the world.

With a stable situation, new momentum, a dynamic market, openness and integration, in the first year of the "15th Five-Year Plan", China's high-quality economic development has been solidly advanced and the pace is strong.

"By the middle of this century, we will fully build a modern and powerful socialist country and achieve the second centenary goal. Time waits for no one! History waits for no one!" With firm confidence, continuous struggle, and gathering the majestic power to promote Chinese-style modernization, the giant ship of China's Renaissance will surely cut through the waves and move forward steadily!

(Reporters Liu Zhiqiang, Wang Ke, Gu Yekai, Luo Shanshan, Wang Yunshan)