Summary of Key Points
This article highlights a crucial phenomenon in the current Chinese economy: although macroeconomic indicators are generally positive (such as economic growth, production supply, and foreign trade), the微观 experiences of businesses and individuals are relatively bleak (difficulty in doing business, high income pressures, etc.). This contradiction between good data and poor real feelings is referred to as the "temperature gap." Authorities have officially acknowledged this phenomenon, recognizing it as a structural issue during the transition period between old and new economic drivers. It will not be completely resolved in the short term, but the gap can be gradually narrowed by translating macroeconomic growth into improvements in people's livelihoods. Specific approaches include integrating old and new industries, ensuring income growth, and increasing investment in people's welfare, while always adhering to the principle of "sharing the fruits of development with the people."
Detailed Explanation
1. What is the "temperature gap," and why have authorities recognized it?
In simple terms, it means that although national economic figures look good, ordinary citizens do not feel the same way. For example, despite meeting the economic targets for 2023, many small business owners report fewer orders and lower profits, while ordinary residents complain about slow wage increases and rising living costs. This disconnect between macroeconomic data and individual experiences is not an isolated issue; the Central Economic Work Conference specifically mentioned the need to address this relationship, and the National Bureau of Statistics has officially confirmed the existence of the "temperature gap" for the first time. It does not indicate that the economy is failing, but rather that the benefits of growth have not yet reached everyone.
2. Why is there a "temperature gap," and what is causing it?
The economy is transitioning from traditional models (such as reliance on manufacturing and real estate) to new ones (such as artificial intelligence and renewable energy). During this process:
- New industries (like AI and photovoltaics) are growing rapidly but have not yet benefited the majority of people (for instance, only a few employees in tech companies are benefiting);
- Traditional industries (such as certain manufacturing and offline services) are undergoing adjustments, with some companies laying off workers or cutting salaries, causing discomfort among affected groups;
- The economic structure is becoming more polarized, with the better-performing sectors growing even faster while the weaker ones falling further behind. As a result, overall data looks better due to the impact of these new industries, but many people are not benefiting.
This is similar to a family where parents earn a lot of money, but the children do not receive any extra spending money, so they do not feel the improvement in their financial situation.
3. Industries need to work together (old and new)
Developing future-oriented industries (such as quantum technology and biomanufacturing) is essential, but we cannot favor one over the other. For example:
- Using AI to modernize traditional factories can make workers more efficient and their incomes more stable;
- Collaborating between new energy vehicles and traditional parts manufacturers can help old companies transform;
- We must prevent resources from being monopolized by new industries (for instance, government subsidies should not be limited to new sectors only).
Only by promoting the combined development of old and new industries can more people benefit from economic growth, rather than only a select group in the tech sector.
4. Income needs to grow steadily
Resident income actually increased by 4.2% in the first half of the year, but we need to ensure sustained growth in future years:
- The government will prioritize job creation (for example, assessing potential job opportunities before launching new projects);
- Help low-income groups increase their incomes (such as providing additional subsidies for rural elderly people and finding jobs for disadvantaged families);
- Expand the middle-class (for instance, supporting ordinary people to start businesses and improve their skills).
After all, only when wages rise and savings increase will citizens truly feel that the economy is improving.
5. Increase investment in people's welfare for a better quality of life
The government has been investing heavily in areas related to people's well-being:
- Building affordable housing, renovating old residential areas, improving air and water quality, and enhancing medical and tourism facilities.
These investments, although costly, bring tangible benefits:
- Elevators in old buildings make it easier for the elderly to move around;
- More parks provide places for families to spend weekends;
- Upgraded hospital equipment makes healthcare more convenient.
These small improvements can directly enhance people's quality of life, turning macroeconomic growth into personal happiness and thus narrowing the "temperature gap."
In conclusion
No matter how impressive the macroeconomic data are, the real feelings of ordinary citizens are the true barometer. The key to reducing the "temperature gap" is to ensure that the benefits of development reach everyone—providing jobs, increasing incomes, and improving living standards. This is the ultimate goal of economic development.