China’s Ministry of Agriculture and Rural Affairs said at a July 24 briefing
that 1H primary industry fixed-asset investment was 460 bln yuan, up 0.9% YoY,
and primary industry value added rose 3.7% YoY. Rural retail sales of consumer
goods reached 3.32 tln yuan in 1H, up 2.5% YoY and 1.3 percentage points faster
than urban growth, highlighting rural consumption resilience. Agricultural
imports and exports totaled $163.8 bln in 1H, up 10.8% YoY. The ministry said
rural investment and consumption continued steady growth, supporting domestic
demand.
