The National Bureau of Statistics released its latest economic performance data for August at a State Council Information Office press conference this morning, with spokesperson Fu Linghui detailing the key trends. According to the spokesperson, the country's economic operations in August were characterized by "three stabilizers and two rapid growth areas."

The three stabilizers encompass production, employment, and prices, forming a solid foundation for overall economic resilience. Regarding production stability, ongoing geopolitical tensions in the Middle East have created persistent volatility in international crude oil markets and tightened supply of certain critical raw materials. As a major global energy importer and manufacturing powerhouse, China faced considerable pressure in securing energy supplies and maintaining stable industrial operations. In response, authorities intensified domestic energy exploration and production efforts, pursued diversified import channels, and leveraged the significant progress made in green energy transformation in recent years to effectively safeguard domestic supply and sustain production stability. In August, the value-added output of large-scale industries grew by 5.2% year-on-year, while the services production index increased by 4.1%, both maintaining generally steady trajectories.

Employment stability was bolstered by steady production, which underpinned consistent labor demand. Steady enterprise output helps maintain workforce requirements, while the services sector, with its substantial employment capacity, has contributed significantly, particularly through rapid growth in emerging industries like information services and software development. The nationwide surveyed urban unemployment rate stood at 5.3% in August, a modest 0.1 percentage point increase from the previous month, primarily reflecting the seasonal influx of new graduates entering the labor market. Manufacturing employment remained broadly stable across various sectors, while information transmission, software, and information technology services recorded notable job gains. The accommodation and catering sectors continued to expand employment, supported by robust domestic cultural tourism and leisure activities, playing a vital role in overall employment stability.

Price stability was maintained despite elevated inflation levels observed in major developed economies this year. In response to these pressures, China proactively intensified market supply assurance measures and strengthened production of essential consumer goods, effectively securing market availability and supporting price stability. In August, the consumer price index rose 0.8% year-on-year, and the producer price index for industrial goods increased 3.8%, both remaining relatively stable when viewed from an international perspective.

The two rapid growth areas are defined by the swift expansion of emerging industries and the fast pace of import and export growth. First, emerging industries have grown rapidly, with high-tech manufacturing, digital manufacturing, and information technology services developing at remarkable speed, significantly contributing to the acceleration of new and old growth drivers and the enhancement of economic quality. In August, the value-added output of high-tech manufacturing and digital product manufacturing in large-scale industries increased by 16.7% and 15.7% year-on-year, respectively. New growth drivers contributed over 60% to the growth of large-scale industrial output, and this contribution continues to rise. The production index for information transmission, software, and information technology services grew by 9.6%, contributing more than 20% to the overall growth of the services production index.

Second, foreign trade has grown rapidly, with total goods imports and exports rising by 19.8% year-on-year in August. On the export front, green products such as new energy vehicles and lithium batteries have seen particularly strong growth, effectively promoting the global green transformation. On the import side, purchases from developing countries including those in ASEAN, Africa, and Latin America have surged dramatically, creating new opportunities for industrial development in these regions.