Consolidate and enhance the new positive trend of the economy

Since the beginning of this year, China's economy has shown a development trend of new momentum and optimized structure. Especially in the first seven months, new driving forces represented by high-end manufacturing and digital economy contributed over 50% to the growth of industries above designated size. The economy is developing towards a new and better direction, and the profits of industrial enterprises continue to improve, which helps to support the accelerated formation of a strong domestic circulation system.

New momentum has become an important engine driving industrial profits and investment growth. Since the beginning of this year, the "dual" projects have been solidly promoted, with strong continuity between traditional and new infrastructure. Investment in the "six networks" related fields has grown rapidly, and the layout of computing power networks and new generation communication networks has accelerated, further enhancing the momentum of digital transformation and development. From January to July, the year-on-year growth rate of investment in Internet and related service industries exceeded 40%, and the investment in optical fiber manufacturing industry increased by nearly 30%. New mechanisms and models for stable investment continue to emerge, providing a more suitable environment for cultivating new driving forces.

The amplification effect driven by government investment continues to emerge, and expanding investment places more emphasis on precision, effectiveness, and mechanism innovation. The precise investment of ultra long term special treasury bond and the optimized implementation of large-scale equipment renewal policies further stimulated the demand for enterprise transformation and upgrading. From January to July, the investment in equipment and tools purchase increased by 9% year on year, driving the total investment up by 1.5 percentage points. Industrial enterprises' profits have improved, further stimulating investment enthusiasm. Enterprises pay more attention to innovative research and development, and continue to increase investment in fields such as patents, software, and databases. From January to July, investment in intellectual property products increased by 9.1%; The proportion of total investment was 14.8%, an increase of 2.1 percentage points compared to the same period last year.

Green manufacturing, high-end manufacturing, and intelligent manufacturing continue to make efforts, enhancing export competitiveness. The pace of "integration of the two industries" is accelerating, driving the improvement of added value, profits, and investment in related industries. In July, the added value of high-tech manufacturing above designated size increased by 16.9% year-on-year, and the output of products related to artificial intelligence such as sensors and storage chips maintained a growth rate of over 30%. In the first seven months, investment in high-tech industries increased by 5% year-on-year, especially in cutting-edge fields such as artificial intelligence, which drove investment in information services and research and development design services to maintain a high growth rate.

While acknowledging the effectiveness of policies, it is also necessary to pay attention to the difficulties and challenges in economic operation. For example, domestic effective demand is still insufficient, and further exploration of investment and consumption potential is needed; The foundation for a moderate and reasonable rebound in prices and continuous improvement in profits still needs to be stabilized, and the low price competition in certain fields has lowered the industry's profitability; Some regions face significant debt pressure, which limits their ability to sustain investment in supporting project construction.

In the face of internal and external pressures, we must remain firm in our confidence, further enhance the resilience of the domestic supply chain, and accelerate the industry's climb towards higher added value. Adhere to the combination of goal oriented and problem oriented approaches, stimulate economic vitality in the comprehensive deepening of reform, unblock obstacles to improving profits and expanding effective investment, and further consolidate and enhance the trend of the economy moving towards a new positive direction.

Establish a long-term mechanism for expanding effective investment. Give full play to the driving role of government investment, solidly promote the implementation of major projects related to the 15th Five Year Plan, especially accelerate the construction of key areas such as the "Six Networks", effectively promote the close integration of hard investment and soft construction, further improve the price and fee adjustment mechanism, and form a reasonable and stable expected investment return. Establish a mechanism for accurately promoting investment projects to private capital, provide high-quality factor guarantees and coordinated services, and fully stimulate the vitality of private investment.

Strengthen the support of new driving forces for enterprise revenue and profits. Drive more social capital to invest in new infrastructure, new energy, artificial intelligence, biomanufacturing and other new tracks, and accelerate the promotion and application of new technologies and products related to the digital economy. Strengthen the guidance of high standards, curb low-level redundant construction, and guide enterprises to shift from price competition to innovation and quality competition. Promote the greater effectiveness of the "two new" policies, make good use of the relevant support policies for the first unit (set), and accelerate the transformation of the advantages of the super large market into a competitive advantage in the industry.

Accelerate the release of the driving effects of the digital economy and green transformation. Empowering thousands of industries with intelligent technology can help optimize traditional manufacturing processes, drive cost reduction and efficiency improvement, and stimulate more growth points such as data services and intelligent equipment. Promoting the digital transformation and green low-carbon transformation of traditional industries is also conducive to opening up new market space, further enhancing the market penetration rate of green low-carbon products, and accelerating the promotion of new models such as energy-saving and carbon reduction services.

Promote the formation of synergy between investment policies and reform measures. Implement existing policies, plan to introduce incremental policies, accelerate the issuance and use of local special bonds, accelerate the landing and effectiveness of new policy financial instruments, and promote investment to stop falling and stabilize. Relying on the construction of a unified national market, breaking down local protectionism and market segmentation, and allowing high-quality factors to flow smoothly throughout the country.