China's economy demonstrated remarkable resilience during the first half of 2025, with the National Bureau of Statistics reporting a 5.3% year-on-year GDP expansion to 66.05 trillion yuan. The performance exceeded expectations despite mounting global uncertainties, showcasing steady progress across multiple sectors. Quarterly analysis reveals consistent momentum—Q1 grew 5.4% while Q2 maintained 5.2% growth. Sequentially, Q2 GDP expanded 1.1%. Key sectors propelled this advancement: agriculture rose 3.7% with summer grain output reaching 149.74 million tons; industrial value-added output climbed 6.4%, spearheaded by equipment manufacturing (+10.2%) and high-tech manufacturing (+9.5%); services accelerated to 5.5% growth, outpacing Q1 by 0.2 percentage points.

Consumer markets regained vitality as retail sales hit 24.55 trillion yuan, up 5% annually. Fixed-asset investment excluding rural households expanded 2.8% to 24.87 trillion yuan—stripping property development, growth surged to 6.6%. Trade dynamics strengthened with total imports/exports rising 2.9% to 21.79 trillion yuan, where private enterprises contributed 57.3% of trade volume amid structural optimization.

Price stability prevailed with core CPI (excluding food/energy) edging up 0.4%. Employment indicators solidified as urban surveyed unemployment averaged 5.2%, dipping 0.1 percentage points from Q1. Household incomes grew steadily with per capita disposable income reaching 21,840 yuan, a real 5.4% increase after inflation adjustment.

New quality productive forces gained significant traction: - High-tech manufacturing surged 9.5% - Strategic emerging service revenues jumped nearly 10% - New energy vehicles skyrocketed over 30% - Lithium battery production exploded 53.3%

Monetary authorities reinforced liquidity through a landmark 1.4 trillion yuan reverse repo operation—the second consecutive monthly expansion. Experts note this innovative tool directly injects medium-term liquidity, surpassing traditional MLF mechanisms in flexibility while easing financing constraints for smaller banks.

Real estate markets showed nascent recovery signs: - New home sales declines narrowed by 15.5 percentage points YoY - Property funding conditions improved markedly - Home inventory shrank for four consecutive months

Looking ahead, economic fundamentals remain supportive despite external headwinds. Services now drive over 60% of GDP growth, while consumption’s "ballast effect" continues to anchor expansion. With policy tools primed for deployment and domestic circulation strengthening, China’s economy is positioned for sustained, high-quality development through 2025’s second half.