The number of people in offline business districts increased by 5.7% year-on-year, the number of patent authorizations related to strategic emerging industries increased by 15.6% year-on-year, and the amount of capital investment in cutting-edge fields such as artificial intelligence and humanoid robots increased by 118.4% year-on-year... A series of big data in the first half of the year, like a vivid economic heat map, clearly demonstrates the dazzling characteristics of the current Chinese economy of "continuous improvement in domestic demand and accumulation of innovation to break through."On the one hand, the fireworks in the world continue to rise, and the consumer market is warm; on the other hand, the emergence of innovative results on the cutting-edge track is accelerating, and new and old driving forces are switching in an orderly manner.We will work together to build a solid foundation for economic stability while making progress and accumulating energy.
The economic boom continues to improve, hidden in the streets, alleys, business districts and markets.In the first half of the year, the flow of people in offline business districts increased by 5.7% year-on-year. The amount of offline consumption payments has steadily increased. The growth rate of commodity consumption has outpaced that of service consumption. The consumption of electronic products has increased significantly. The popularity of transportation, catering and other cultural and tourism chains has not diminished.Offline scenes that once attracted much attention continue to improve, residents' willingness to consume continues to increase, and urban fireworks become more and more intense. The consumer market has shown new characteristics of products pursuing intelligence, experience valuing the sense of scene, and diversified travel preferences.
A careful breakdown of the consumption structure reveals that the consumption of electronic goods increased by 9.5% year-on-year, highlighting the continued release of residents’ demand for smart products and digital consumer goods.Cultural tourism has driven the continuous increase in transportation and catering, which means that the public no longer only meets the basic needs of food and clothing, but the weight of leisure experience and spiritual consumption continues to increase.Product quality improvement, service expansion, and scene heating are three key words that accurately summarize the characteristics of the current consumer market.In the past, we simply pursued “buyability”, but now we pursue “good buys, comfortable play, and fresh experiences.”Of course, we need to see that from issuing consumer coupons and creating a night-time economy to vigorously developing cultural and tourism integration, smart homes, and immersive experience consumption, a series of policy combinations continue to be implemented and continue to open up the blocking points that restrict consumption release.To continue to activate the domestic demand market, we must not only stabilize bulk consumption and upgrade traditional consumption, but also continuously cultivate new growth points such as digital consumption and green consumption, so that people dare to consume, are willing to consume, and can consume, and keep the fireworks strong for a long time.
If consumption data reflects people’s vitality, then innovation investment and patent data represent the future growth confidence of China’s economy.Capital investment in the cutting-edge fields of artificial intelligence and humanoid robots surged by 118.4% year-on-year, the bid amount for computing infrastructure projects increased by 23%, the number of strategic emerging industry patent authorizations increased by 15.6%, AI-related patent authorizations surged by 34.8%, and the growth rate of emerging industry patents in June soared to 30.3%.All parties in the market are betting on the technological innovation track, which is the general trend of industrial development.The new round of global technological revolution is accelerating, and the focus of competition between major powers is increasingly focusing on high-end manufacturing, artificial intelligence, cutting-edge robots and other fields.A large number of market entities are actively investing in hard-core technologies and are willing to invest in cutting-edge technologies for a longer period of time, reflecting that market expectations are undergoing positive changes. More and more companies realize that only relying on technological innovation can build long-term competitiveness.
Domestic demand supports the present, and innovation determines the future.Consumption promotes smooth economic circulation, and technological innovation opens up the growth ceiling. The two complement each other and are indispensable.Strong terminal consumer demand can provide broad application scenarios for new technologies and new products; continuous iterative technological innovation can also create new consumer products and generate new consumer demands, forming a virtuous cycle of "consumption drives innovation, and innovation creates consumption."The industrialization of artificial intelligence and humanoid robots will ultimately require a vast domestic market as a testing ground.The consumer market continues to upgrade, which also requires a steady supply of innovative products to meet people's higher-quality needs.The potential of my country's economy's strong domestic demand continues to be released, innovation-driven momentum gathers at an accelerated pace, and the economy's resilience, potential, and vitality continue to emerge.Facing the new development journey of the "15th Five-Year Plan", we must continue to prioritize the recovery and expansion of consumption, continue to optimize income distribution, enrich consumer supply, and activate diversified urban and rural consumer markets.At the same time, we will continue to strengthen scientific and technological innovation, unblock the channels for the transformation of scientific and technological achievements, and encourage more capital to take root in the real economy and deepen the development of cutting-edge industries.
The fireworks in the world are endless, and the wave of scientific and technological innovation is rushing forward.When bustling business districts and hot laboratories resonate at the same frequency, and when people's consumption upgrades and industrial innovation break through in both directions, China's economy will surely continue to maintain a steady and progressive trend, and continuously accumulate new momentum for high-quality development.
(Wang Min)
