Despite the headwinds buffeting the economy, China's GDP expanded 12.7 percent in the first half of 2021, an effective 0.3 percentage points faster than the two-year average of Q1 growth from the 2019 level. Liu Aihua, spokesman of the National Bureau of Statistics (NBS) and director general of the National Economic Statistics Department, released the performance data of the first half of this year's national economy on July 15, 2021.

　　According to the data, in the first half of this year the national economy has remained stable and positive in many aspects, including a bumper harvest of summer grain crops, steady recovery of the service industry and sustainable growth of industrial production.

　　It is worth noting that investment in hi-tech industries grew by 23.5 percent year-on-year, and 14.6 percent on average last two years. Hi-tech manufacturing and services have particularly produced outstanding performances, with year-on-year growth of 29.7 percent and 12 percent respectively.

　　China's "Three New" economy, referring to the collection of economic activities with new industries, new business forms and new business models as core content, has brought economic added value of 16.9254 trillion RMB in 2020 over the previous year (without deducting price factors), according to the NBS data.

　　"The rapid growth of the 'Three New' economy played an important role in the sustainable and stable recovery of the national economy in the first half of this year. In the long term, it also provides strong strategic support for accelerating the construction of the new development pattern," said Liu Aihua.

　　The pace of industrialization of science and technology is accelerating through deepening integration of industrialization and informatization, as well as the application of scientific and technological achievements. These factors have combined to drive the rapid development of new industries.

　　During the 13th Five-Year Plan period, the added value of the hi-tech manufacturing industry grew at an average annual rate of 10.3 percent, significantly faster than the industrial added value of above designated size.

　　Despite the impact of COVID-19 and the severe and complex international situation, new industries, new business forms and new business models will continue to maintain rapid growth in China in the days to come, on account of the full policy support, according to Liu.