Automated radiology report generation can not only lighten the workload of clinicians but also improve the efficiency of disease diagnosis. However, it is a challenging task to generate semantically coherent radiology reports that are also highly consistent with medical images. To meet the challenge, we propose a Multimodal Recursive model with Contrastive Learning (MRCL). The proposed MRCL method incorporates both visual and semantic features to generate “Impression” and “Findings” of radiology reports through a recursive network, in which a contrastive pre-training method is proposed to improve the expressiveness of both visual and textual representations. Extensive experiments and analyses prove the efficacy of the proposed MRCL, which can not only generate semantically coherent radiology reports but also outperform state-of-the-art methods.