China’s economy is showing promising signs of stability and long-term growth, as revealed by the latest data released by the National Bureau of Statistics on August 15. The July economic indicators highlight a continued recovery in production and demand, contributing to steady progress in the nation’s high-quality development.
In July, the value added of industrial enterprises above the designated size nationwide increased by 5.1 percent year-on-year. This growth signifies a robust expansion in the industrial sector, reflecting improved productivity and operational efficiency among larger enterprises.
Consumer spending also saw an uplift, with total retail sales of consumer goods reaching 3.7757 trillion yuan, marking a 2.7 percent increase from the previous year. The rise in retail sales underscores growing consumer confidence and a rebound in domestic consumption, a critical driver for sustained economic growth.
Furthermore, China’s trade sector experienced positive momentum. The total value of imports and exports of goods climbed by 6.5 percent year-on-year, indicating strengthened international trade relations and a healthy demand for Chinese goods in the global market.
Overall, the economy remained stable with steady progress. Production demands continued to recover, employment and prices held generally stable, and new growth drivers were fostered and expanded. These factors collectively contribute to solid advancements in China’s pursuit of high-quality development.
The latest data suggests that China’s economic policies are effectively supporting recovery and growth, positioning the nation for continued prosperity in the long term.
Reference(s):
Expert: China's economy gains stability and long-term promise
cgtn.com
