According to CoinMeta, the State Council of China submitted a report on the implementation of this year's economic and social development plan to the Standing Committee of the National People's Congress. The report indicates that in the first half of the year, GDP grew by 4.7%, with an increase of 3.6 trillion yuan. Wang Changlin, Deputy Director of the National Development and Reform Commission of China, stated that the overall implementation of the plan was good, with growth, employment, prices, and foreign trade meeting expectations. Progress was made in consumption, residents' income, fiscal finance, social security, environmental work, and grain production. The report also points out that geopolitical conflicts have increased their impact on the Chinese economy, domestic activities have become more differentiated, effective demand is insufficient, some industries are facing operational difficulties, the task of resolving risks in key areas is arduous, and support for employment and people's livelihood needs to be strengthened.