(15 Jul 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Beijing, China – 15 July 2025
1. Wide of news briefing
2. Wide of reporters
3. SOUNDBITE (Mandarin) Sheng Laiyun, deputy director of the National Bureau of Statistics:
“In the first half year, the GDP grows by 5.3%. In the first quarter, it was 5.4%. In the second quarter, it was 5.2%. The growth rate increases by 0.5% compared with the same period last year and the entire last year. As you know, the GDP growth last year was 5%.”
4. Wide of reporters
5. SOUNDBITE (Mandarin) Sheng Laiyun, deputy director of the National Bureau of Statistics:
“In the second quarter, the final consumption expenditure contributed 52.3% to GDP growth, showing a slight increase compared to the first quarter. Gross capital formation contributed 24.7%, while net exports of goods and services accounted for 23%. The figures indicate that domestic demand, especially consumption, is the main driver of GDP growth.”
6. Various of reporters at news briefing
7. SOUNDBITE (Mandarin) Sheng Laiyun, deputy director of the National Bureau of Statistics:
“The achievement doesn’t come easily. Since the second quarter, the international landscape has changed abruptly and external pressure has increased remarkably. We should also be clearly aware that the external environment is still complex and the internal structural problems are not eliminated. The fundamentals of the economy need to be consolidated.”
8. Wide of news briefing
STORYLINE:
China’s economy slowed in the last quarter as President Donald Trump’s trade war escalated, but it still expanded at a robust 5.2% pace, the government said Tuesday.
That compares with 5.4% annual growth in January-March. The government said Tuesday that in quarterly terms, the world’s second largest economy expanded by 1.1%.
In the first half of the year, the Chinese economy grew at a 5.3% annual pace, Sheng Laiyun, deputy director of the National Bureau of Statistics, said at a briefing on Tuesday.
Sheng said consumption is still the major driver of GDP growth in the months from April to June while exports contributes to 23% of the GDP growth.
On Monday, China reported that its exports accelerated in June, rising 5.8% from a year earlier, up from a 4.8% increase in May.
A reprieve on painfully high tariffs on Chinese exports to the United States prompted a rush of orders by companies and consumers as the two sides resumed trade talks.
Chinese companies also have expanded exports to and offshore manufacturing in other countries, helping to offset the impact of higher tariffs imposed by the Trump administration.
Chinese leaders have set a growth target of 5% for this year, in line with last year’s growth. A resumption of U.S. tariffs of up to 245% if Washington and Beijing fail to meet an Aug. 12 deadline for a new trade deal could derail the recovery in exports, a major driver of growth and employment.
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