Structural Continuous Optimization Quality and Efficiency Steady Improvement -- Interpretation of Tianjin's Economic Operation in the First Half of 2024

Since the beginning of this year, our city has thoroughly studied and implemented the spirit of General Secretary Xi Jinping's inspection of Tianjin's important speech, solidly promoted the "ten actions" of high-quality development, and introduced a series of policies and measures to promote economic recovery. In the first half of the year, the city's regional GDP increased by 4.9 year-on-year, the economic structure continued to be optimized, the quality and efficiency of development steadily improved, the overall economic operation remained stable, and positive factors continued to accumulate.
The economic structure continues to optimize the emerging kinetic energy to lead the development
In the first half of the year, the city's industrial structure to accelerate the pace of upgrading. The high-quality development of the manufacturing industry has achieved results. The added value of 12 key industrial chains above the chain scale accounted for 82.7 percent, an increase of 1.1 percentage points over the first quarter and 2.5 percentage points over the same period last year, and the scale continued to expand. Among them, the added value of Xinchuang, aerospace and vehicle networking industry chains all increased by more than 20 percent, up 29.5 percent, 25.8 percent and 20.0 percent respectively. The added value of equipment manufacturing industry increased by 4.7, it is 0.3 percentage points faster than the regulated industry, pulling 1.6 percentage points, and the leading role is outstanding. The modern service industry is growing well. The added value of modern service industries such as information transmission software and information technology services, leasing and business services, scientific research and technical services increased by 9.9, 17.3 and 5.5 respectively.
New momentum continues to grow. New industries maintained rapid growth. In the first half of the year, the added value of high-tech manufacturing industries above designated size in our city increased by 7.5, 3.1 percentage points faster than that of the city's regulated industries; the added value of industrial specialized and new "little giant" enterprises increased by 9.1, 4.7 percentage points faster than that of the city's regulated industries; from January to May, the business income of strategic emerging service industries and science and technology service industries above designated size increased by 10.3, 1.2 percentage points. At the same time, the production and sales of new products grew rapidly. In the first half of the year, the output of integrated circuits and servers increased by 9.8 and 35.3 respectively, and the retail sales of new energy vehicles, smart household appliances and audio-visual equipment increased by 13.8 and 44.4 respectively. Investment in new industries continued to increase. Investment in strategic emerging industries and investment in high-tech industries increased by 10.5 and 9.8 respectively, 5.5 and 4.8 percentage points faster than the city's investment.
　　Steady improvement of development quality and efficiency Market vitality continues to increase
In the first half of the year, the city's general public budget revenue increased by 6.3, of which tax revenue increased by 2.8, accounting for 75.6 percent of the general public budget revenue, an increase of 1.9 percentage points over the first quarter. At the end of June, the balance of deposits and loans in local and foreign currencies of financial institutions increased by 5.6 per cent.
Business efficiency continues to improve. From January to May, the total profits of industrial enterprises above designated size in our city increased by 7.0. Among them, the profits of key industries such as oil and gas extraction, automobile manufacturing, chemical raw materials and chemical products manufacturing increased by 10.2, 11.3 and 1.1 respectively. Times. The operating income margin was 6.97 percent, up 0.06 percentage points from the first quarter.
In the first half of the year, the private economy in our city developed well. Private investment increased by 12.5, 7.5 percentage points faster than the city's investment, accounting for 30.7, an increase of 2.0 percentage points year-on-year; the added value of private industrial enterprises above designated size and the operating income of private key service enterprises above designated size increased by 4.5 and 17.0 respectively.%, the growth rate is faster than the city's average.
In addition, in the first half of the year, road cargo turnover increased by 4.6, and water cargo turnover increased by 22.4, 0.1 and 5.8 percentage points faster than the first quarter, respectively; port cargo throughput and container throughput increased by 3.3 and 4.4, respectively. Relying on the Tianjin Port integrated freight hub, the construction of sea-rail intermodal transport projects has progressed steadily, and the container sea-rail intermodal transport volume of Tianjin Port has increased by 21.8. Express business volume increased by 31.7.
　　Policy effects gradually appear positive factors accelerate the accumulation
Since the beginning of this year, our city has implemented the decisions and deployments of the Party Central Committee, intensified the implementation of macro policies, introduced policies and measures such as the ''Tianjin City's Implementation Plan for Promoting Large-scale Equipment Renewal and Consumer Goods Trade-in, ''and held a series of consumption promotion activities such as the 2024 Haihe International Consumption Season. The policy effects have gradually appeared, which have played a positive role in promoting the sustained economic recovery.
Driven by the large-scale equipment renewal policy, in the first half of the year, investment in the purchase of equipment and tools increased by 12.9; investment in industrial technological transformation increased by 16.1, of which investment in manufacturing technological transformation increased by 25.3, 1.3 and 12.9 percentage points faster than the first quarter, respectively. Large-scale equipment renewal has led to a rapid growth in the production of the equipment manufacturing industry. Among the industries above designated size, the general equipment manufacturing industry, the computer, communications and other electronic equipment manufacturing industry, and the added value of the railway, shipbuilding, aerospace and other transportation equipment manufacturing industry have all achieved Double-digit growth, an increase of 10.0 per cent, 13.1 per cent and 23.4 per cent respectively. The trade-in policy for consumer goods has promoted the growth of durable consumer goods, with retail sales of household appliances and audio-visual equipment, new energy vehicles, construction and decoration materials above the quota increasing by 15.6 per cent, 13.8 per cent and 10.5 per cent, respectively.
In the first half of the year, the Qingming Festival, May Day and Dragon Boat Festival continued, coupled with the implementation of a series of consumption promotion measures, the number of tourists to Tianjin increased significantly, railway passenger volume and airport passenger throughput increased by 21.8 and 12.9 respectively, urban rail transit passenger volume increased by 16.8, and travel agency and related service revenue increased by 34.3 from January to May. The holiday economy stimulated the vitality of the consumer market, with per capita consumer spending increasing by 7.6 per cent in the first half of the year, with per capita spending on tickets to scenic spots and tickets to movies and dramas increasing by 22.7 per cent and 27.4 per cent, respectively.
The foundation of people's livelihood has been continuously consolidated and the sense of gain of residents has been continuously enhanced.
Since the beginning of this year, our city's investment in people's livelihood has continued to increase. Among the general public budget expenditures, social security and employment, health and health, and urban and rural communities have increased by 22.3, 6.1, and 56.4, respectively. Investment in the social sector increased by 9.1 per cent, with investment in education and health increasing by 18.5 per cent and 9.5 per cent, respectively.
In the first half of the year, the city created 192500 new jobs in cities and towns, completing 55.0 of the annual plan, 5.0 percentage points out of order, and the employment market remained stable.
During the same period, residents' income increased steadily, and the per capita disposable income of the city's residents increased by 4.6 percent, of which the per capita disposable income of rural residents increased by 5.9 percent, 1.6 percentage points faster than that of urban residents.

Source: Tianjin Daily