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Chapter 1 A summary of dynamic development

Author of this chapter Qiu Lijing

(Zhongneng Media Dynamic Ping An New War Strategy Research Institute)

1. Macro-view economic shape

01 The total economy has been on the new stage again, with the total domestic production increasing by 5.0% year-on-year

2024 is the 75th anniversary of the founding of New China and is a key year for realizing the “14th Five-Year Plan” planning goal. Over the past year, my country’s economic operations have generally been stable and stable, new production capacity has been developed step by step, transformation and opening up continues to deepen, key areas have been resolved in an orderly and useful manner, and the protection of living in vivo is ineffective. From the stable operation of important economic indicators to the increasing number of positive reasons, to the continuous increase in high-quality development and advancement, my country’s economic strength, scientific and technological strength, and comprehensive national strength have continued to strengthen, and China’s modernization has introduced new practical procedures.

The total domestic production value in 2024 was 1349.084 billion yuan, breaking through 1.3 million yuan for the first time, an increase of 5.0% over the previous year. The total economy ranks second in the world and is the main source of power for the world’s economic growth. Among them, the growth rates of industrial added value above scale, service added value and total social consumer goods wholesale accelerated by 0.7, 1.0 and 1.1 percentage points respectively. The per capita total domestic production value for the whole year was 95,749 yuan, an increase of 5.1% year-on-year. The total expenditure of national civilians was 1339672 billion yuan, an increase of 5.1% year-on-year.

(Data comesSource: National Statistical Bureau)

Figure 1-1 The total domestic production value and growth rate from 2015 to 2024

In the quarter, the total domestic production value increased by 5.3% year-on-year; in the second and third quarters, my country’s economic growth rate increased by 4.7% and 4.6% year-on-year respectively, facing a relatively large pressure situation under the economy. Faced with the new situation and new Sugar baby problem, our country has strengthened its macro-consolidation. On September 26, the Political Bureau of the Center made serious arrangements to effectively implement existing policies and increase the issuance of incremental policies, which greatly enriched beliefs, improved expectations, and stimulated development motivation. At the fourth quarter, the economic growth rate of Manila escort was significantly higher, with the total domestic production increasing by 5.4% year-on-year, accelerating by 0.8 percentage points from the third quarter.

<img src="https://img01.mybjx.net/news/WechatImage/202506/17501526436012666.png" alt="" data-href="" style=""//

(Data source: National Statistics Bureau)

Figure 1-2 Growth of domestic production in each quarter from 2022 to 2024

02 As economic structure continues to be optimized, industry and service industries have shown a significant increase

In 2024, the added value of the primary industry was 914.14 billion yuan, a 3.5% increase over the previous year; the added value of the secondary industry was 492.087 billion yuan, a 5.3% increase; the added value of the third industry was 765.583 billion yuan, a 5.0% increase. Judging from the proportion, the proportion of the first, second and third industries to the total domestic production value is 6.8%, 36.5% and 56.7% respectively. As the economic structure accelerates the transformation to service, the third industries are gradually becoming the driving force for economic growth. From the perspective of the contribution level, the contribution rates of the three industries to the growth of the total value of domestic production are 5.2%, 38.6%, respectively.56.2%, with the economic structure continued to be optimized, the second industry’s economic contribution rate was the highest in recent years, and the export contribution has greatly improved.

<img src="https://img01.mybjx.net/news/WechatImage/202506/17501526431731196.png" alt="" data-href="" style=""//

(Data source: National Statistics Bureau)

Figure 1-3 The proportion of the added value of the three production industry in 2015-2024 in the total domestic production value

The expansion of market demand has promoted the expansion of industrial production and accelerated service growth. From the perspective of industry, the added value of industrial enterprises above scale increased by 5.8% throughout the year. Among them, the added value of mining increased by 3.1%, the added value of manufacturing increased by 6.1%, the added value of power, heat, fuel, aquatic production and supply increased by 5.3%, the added value of equipment manufacturing increased by 7.7%, and the added value of high-tech manufacturing increased by 8.9%, respectively, 1.9 and 3.1 percentage points faster than that of scale-based industries. From the perspective of service industry, the added value of information transmission, software and information technology services, rental and business services, and the financial industry increased by 10.9%, 10.4% and 5.6% respectively compared with the previous year, providing unsupported support for the accelerated development of new quality production capacity and better service real economy.

03 Fixed asset investment scale has been expanded, and high-tech industries and green dynamic investment has grown faster. In 2024, the whole society has invested 520,916 billion yuan in fixed asset investment, an increase of 3.1% over the previous year. Fixed asset investment (excluding farmers) was RMB 5143.74 billion, an increase of 3.2% over the previous year, among which the investment in equipment purchases increased by 15.7%. Among fixed asset investment (excluding farmers), by region, investment in the eastern region grew by 1.3%, investment in the central region grew by 5.0%, investment in the western region grew by 2.4%, and investment in the northeast region grew by 4.2%.