The latest leading indicators released by the National Information Center of the National Development and Reform Commission show that in July, China's offline consumption continued to heat up, driving the collaborative improvement of commodity consumption and service consumption. Consumer payments increased 2.2% year-on-year in July, 0.8 percentage points faster than the previous month. The business vitality of small and medium-sized businesses has been steadily increasing. The physical business vitality index, which reflects the business conditions of small and medium-sized businesses, increased by 3.1% compared to the previous month. The physical merchant business health index and offline consumer vitality index all increased month-on-month. In addition, data from the National Information Center of the National Development and Reform Commission also showed that the industrial park production popularity index increased 1.0% year on year in July, and overall operation was stable. In July, the number of patents granted in strategic emerging industries increased 10.7% year on year. Among them, the number of patents granted related to artificial intelligence increased by 60% year on year, the growth rate was 21.7 percentage points higher than in June, and cutting-edge technology research and development is entering the “fast track”.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.