In the second quarter of this year, Huawei sold 54 million mobile phones worldwide, up about 41% from the same period last year. Underpinning Huawei's continued success is the company's pursuit of technological innovation.

In the first five months of this year, Geely Auto's cumulative sales reached 638,200 vehicles, an increase of 44% year-on-year. Behind the strong growth, more than 15,000 research and development personnel contributed to it.

The outstanding performance of Huawei and Geely reflects the new progress in China's industrial transformation and upgrading. In the first half of this year, the added value of industrial enterprises above designated size grew by 6.7% year on year, and the profits of enterprises increased by 17.2% year on year. The quality and efficiency of China's industries have steadily improved, adding considerable weight to the development of the real economy.

-- The real economy has gained strong momentum due to significantly stronger new growth drivers.

From the perspective of new industries, in the first half of this year, the added value of China's high-tech industry and equipment manufacturing industry grew by 11.6% and 9.2% year-on-year, respectively, 4.9 and 2.5 percentage points faster than that of industries above designated size. From the perspective of new products, new energy vehicles, industrial robots and integrated circuits were favored by the market, with output growth of 88.1 percent, 23.9 percent and 15 percent, respectively. From the perspective of new forms of business, online retail sales of physical goods increased by 29.8 percent, accounting for 17.4 percent of total retail sales of consumer goods. The development of platform economy and digital economy accelerated.

-- Deepening supply-side reform has unleashed huge potential in the real economy.

Since the beginning of the year, driven by policies such as overcapacity reduction, steel prices have risen steadily, and the operation of steel enterprises has continued to improve. Last year, China's industrial capacity utilization rate rose to 77 percent, the best level in the previous five years, and in the first half of this year, it rose by 0.3 percentage points year-on-year, and the relationship between supply and demand has become more balanced. Driven by supply-side structural reform, China's total factor productivity has maintained its rebound since 2015, with a growth rate of nearly 2%.

-- The operating environment has been increasingly improved, unleashing full vitality in the real economy.

From January to June, China's average daily number of newly registered market entities reached 18,100. With the deepening of the reform of "deregulating service", entrepreneurship and innovation are showing vigor. In order to ease the burden on real enterprises, China introduced a series of policies in the first half of this year, including lowering the value-added tax rate in the manufacturing sector, lowering the levy standards for some government-managed funds, and lowering logistics costs, so that more enterprises can carry light loads. In the first half of this year, the cost and expense of every 100 yuan of main business income of industrial enterprises above designated size was 92.57 yuan, down 0.4 yuan year-on-year.

While cheering for the real economy, it should also be noted that the economic operation of different regions of the industry is still differentiated; The recovery of the resource industry has transmitted a certain pressure to the downstream industry; There is still considerable room for improvement in the role of new growth drivers in driving the economy. Significant changes in the external environment have also brought about new problems and challenges. To strengthen the strength of the real economy and ensure stability and long-term development, we must earnestly implement the "Enhancing innovation and developing new growth drivers" proposed at the meeting of the Political Bureau of the CPC Central Committee on July 31.

On the one hand, we must resolutely get rid of the inertia of development and stop relying on the path. Wang Xianzheng, president of the China National Coal Association, called for resolutely eliminating backward production capacity as an inevitable choice for the coal industry to achieve high-quality development.

On the other hand, we must resolutely accelerate the pace of transformation and seek innovation vitality. In recent years, relying on a series of cutting-edge technologies that no one has, Guangzhou injection molding company has reached the world's leading level in the subdivision field of billet injection molding. Chairman Xu Zhijiang believes: "If you want to continue to surpass, only rely on breakthrough technological innovation." Driven by the wave of information technology and economic globalization, only by seizing the opportunity and riding the momentum can we catch up and stand out.

"The steady growth in the first half of the year proves that the Chinese economy is becoming more resilient, laying a solid foundation for the healthy development of the real economy. We have both the confidence and the conditions to cope with difficulties and challenges." Pan Jiancheng, deputy director of the China Economic Boom Monitoring Center of the National Bureau of Statistics. (Reporter Liu Zhiqiang)

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