National Bureau of Statistics: The national economy was running smoothly in August, and the development is moving towards a new and better

The Zhitong Finance App learned that the National Bureau of Statistics issued an article stating that the national economy was generally running smoothly in August, continuing the development trend of new momentum and improved structure. However, it should also be noted that the adverse effects of the external environment have deepened, the contradictions between strong domestic supply and demand are prominent, production and operation are difficult for some enterprises, and the foundation for economic stability and improvement still needs to be consolidated. In the next stage, we must adhere to Xi Jinping's ideology of socialism with Chinese characteristics in the new era, adhere to the general tone of steady progress, completely, accurately and comprehensively implement the new development concept, accelerate the construction of a new development pattern, insist on deepening reform and opening-up, strengthen macroeconomic policy regulation, focus on expanding domestic demand, promote industrial upgrading, enhance development momentum, stimulate social vitality, and promote continuous economic development in a new direction and improvement.

The original text is as follows:

In August, the national economy ran smoothly and developed for the better

(2026 September 15)

National Bureau of Statistics

In August, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core, departments in all regions earnestly implemented the decisions and arrangements of the Party Central Committee and the State Council, adhering to the general tone of steady progress, focusing on the effectiveness of macroeconomic policies, deepening reforms and expanding opening-up, accelerating the conversion of old and new kinetic energy, continuing to promote high-quality development, steady growth in production and supply, employment prices were generally stable, foreign trade grew rapidly, and the supporting role of new momentum increased.

1. Industrial production is accelerating, and equipment manufacturing and high-tech manufacturing are growing rapidly

In August, the value added of industries above the national scale increased by 5.2% year-on-year, 0.7 percentage points faster than the previous month; the month-on-month increase was 0.54%. Looking at the three major categories, the value added of the mining industry decreased by 1.4% year on year, the manufacturing industry grew by 6.1%, and the production and supply of electricity, heat, gas and water increased by 4.9%. The value added of the equipment manufacturing industry increased by 12.1% year on year, and the value added of the high-tech manufacturing industry increased by 16.7%, which is 6.9 and 11.5 percentage points faster than the value added of industries above all sizes, respectively. By economic type, the value added of state-owned enterprises increased by 3.0% year on year; joint-stock enterprises increased 5.7%; foreign-invested enterprises, Hong Kong, Macao and Taiwan grew by 3.4%; and private enterprises increased by 3.7%. By product, production of lithium-ion batteries, industrial robots, and 3D printing equipment products increased by 57.2%, 34.6%, and 29.9%, respectively. From January to August, the value added of industries above the national scale increased by 5.3% year-on-year. In August, the manufacturing purchasing managers' index was 49.8%, and the expected index of enterprise production and operation activity was 53.8%. From January to July, industrial enterprises above the national scale achieved a total profit of 4582.1 billion yuan, an increase of 17.6% over the previous year.

2. The service industry is growing steadily, and the modern service industry is growing well

In August, the national service industry production index increased 4.1% year on year. By industry, production indices for information transmission, software and information technology services, leasing and business services, and transportation, warehousing, and postal services increased by 9.6%, 9.0%, and 4.8%, respectively. From January to August, the national service industry production index increased 4.7% year on year. In August, the index of business activity in the service sector was 49.3%, and the expected index of business activity in the service sector was 55.5%. Among them, the index of business activity in industries such as postal services, telecommunications, radio, television and satellite transmission services, Internet software, and information technology services is in a high boom range of 55.0% or more. From January to July, the revenue of large-scale service enterprises increased 5.7% year-on-year.

3. The scale of market sales has expanded, and retail sales of services are growing faster

From January to August, total retail sales of consumer goods and services increased 2.5% year-on-year, with retail sales of services increasing by 4.9% and retail sales of goods increasing by 1.0%. Among retail sales of services, retail sales of communication and information services, travel consulting and rental services, and cultural, sports and leisure services are growing rapidly. From January to August, total retail sales of consumer goods amounted to 32756.9 billion yuan, an increase of 1.1% over the previous year. From January to August, retail sales of online goods and services nationwide reached 13476.6 billion yuan, an increase of 4.6% over the previous year. Among them, retail sales of online goods amounted to 8419.5 billion yuan, an increase of 4.3%; retail sales of online services amounted to 5057.1 billion yuan, an increase of 5.1%. In August, total retail sales of consumer goods amounted to 3982.4 billion yuan, up 0.4% year on year; down 0.13% month on month. According to the location of the business unit, retail sales of urban consumer goods amounted to 3445.7 billion yuan, an increase of 0.2% over the previous year; retail sales of rural consumer goods amounted to 536.7 billion yuan, an increase of 1.6%. By type of consumption, retail sales of goods were 3528 billion yuan, an increase of 0.3% over the previous year; food and beverage revenue was 454.4 billion yuan, an increase of 1.1%. Sales of basic lifestyle products and some upgraded products grew rapidly. Retail sales of beverages, food, food products, and communication equipment per unit above the limit increased by 4.9%, 4.0%, and 27.3%, respectively.

4. Investment in fixed assets declined, and investment in intellectual property products grew rapidly

From January to August, the country's fixed asset investment (excluding rural households) was 29309.2 billion yuan, a year-on-year decrease of 7.2%; fixed asset investment after deducting real estate development fell 4.2%. Among them, investment in intellectual property products increased 9.2% year over year. Investment in high-tech industries increased by 5.2% year-on-year. Among them, investment in information services, aviation, spacecraft and equipment manufacturing, and electronics and communication equipment manufacturing increased by 22.7%, 14.9%, and 6.9%, respectively. By industry, investment in the primary sector decreased by 2.4% year on year, investment in the secondary sector decreased by 2.9%, and investment in the tertiary sector decreased by 9.9%. By sector, investment in infrastructure fell 4.0% year on year, investment in manufacturing fell 2.3%, and investment in real estate development fell 19.9%. Private investment declined 10.1% year over year; private investment after deducting real estate development fell 6.4%. The sales area of newly built commercial housing nationwide was 498.8 million square meters, a year-on-year decrease of 12.1%; sales of newly built commercial housing amounted to 4747 billion yuan, a decrease of 13.0%. The national second-hand housing transaction network has an area of 549.23 million square meters, an increase of 10.6% over the previous year. In August, fixed asset investment (excluding rural households) fell 0.50% month-on-month.

5. Import and export of goods are growing rapidly, and the trade structure continues to be optimized

In August, the total import and export volume of goods was 4645.5 billion yuan, up 19.8% year on year, 0.6 percentage points faster than the previous month. Among them, exports amounted to 2727.4 billion yuan, an increase of 18.6%; imports amounted to 1918.1 billion yuan, an increase of 21.7%. From January to August, the total import and export volume of goods was 34775.3 billion yuan, an increase of 17.6% over the previous year. Among them, exports amounted to 2016.58 billion yuan, an increase of 14.6%; imports amounted to 14609.5 billion yuan, an increase of 22.0%. From January to August, general trade imports and exports increased 10.5% year-on-year. Imports and exports to the joint “Belt and Road” countries increased by 15.9%. Private enterprise imports and exports increased 17.6%. Exports of mechanical and electrical products increased by 21.9%.

6. The employment situation is generally stable, and the urban survey unemployment rate rises seasonally

From January to August, the average unemployment rate in the national urban survey was 5.2%, the same as the same period last year. In August, the unemployment rate in the national urban survey was 5.3%, up 0.1 percentage points from the previous month. The unemployment rate in the local household registration labor force survey was 5.3%; the unemployment rate in the foreign household registration labor survey was 5.2%, of which the unemployment rate in the foreign agricultural household registration labor survey was 5.0%. The unemployment rate in the urban survey of 31 major cities was 5.3%, up 0.1 percentage points from the previous month. The average weekly working hours of employees in enterprises across the country are 48.2 hours.

7. Consumer prices rebounded moderately, and the year-on-year increase in industrial producer prices increased

In August, the national consumer price (CPI) rose 0.8% year on year, an increase of 0.3 percentage points over the previous month; up 0.4% month on month. By category, prices of food, tobacco, and food and drink fell 0.7% year on year; clothing prices rose 1.3%; housing prices fell 0.3%; household goods and services prices rose 0.7%; transportation and communication prices rose 2.5%; education, culture and entertainment prices rose 1.4%; healthcare prices rose 2.7%; and prices of other goods and services rose 7.3%. Among food, tobacco, alcohol and food and beverage prices, pork prices fell by 11.8%, fresh vegetables by 2.8%, food prices by 0.6%, and fresh fruit by 0.5%. After deducting food and energy prices, the core CPI rose 1.0% year over year. From January to August, national consumer prices rose 0.9% year on year.

In August, the ex-factory prices of industrial producers across the country rose 3.8% year on year, an increase of 0.3 percentage points over the previous month; up 0.4% month on month. The purchase price of industrial producers across the country rose 5.8% year on year and 0.3% month on month. From January to August, the ex-factory price and purchase price of industrial producers across the country increased 2.0% and 3.2%, respectively, year-on-year.

Overall, the national economy was running smoothly in August, continuing the development trend of new momentum and improved structure. However, it should also be noted that the adverse effects of the external environment have deepened, the contradictions between strong domestic supply and demand are prominent, production and operation are difficult for some enterprises, and the foundation for economic stability and improvement still needs to be consolidated. In the next stage, we must adhere to Xi Jinping's ideology of socialism with Chinese characteristics in the new era, adhere to the general tone of steady progress, completely, accurately and comprehensively implement the new development concept, accelerate the construction of a new development pattern, insist on deepening reform and opening-up, strengthen macroeconomic policy regulation, focus on expanding domestic demand, promote industrial upgrading, enhance development momentum, stimulate social vitality, and promote continuous economic development in a new direction and improvement.

This article was compiled from the official website of the “National Bureau of Statistics”, Zhitong Finance Editor: Li Fu.