China's economic recovery maintained steady momentum in August, with new data revealing stable production growth and emerging opportunities in high-tech industries. The National Bureau of Statistics reported sustained progress across key sectors, signaling resilience amid global economic uncertainties.
Industrial Growth Accelerates
Industrial value added rose 5.2% year-on-year, driven by robust performance in high-tech manufacturing (9.3%) and equipment manufacturing (8.1%). The manufacturing PMI rebounded to 49.4, with business confidence indicators climbing to 53.7 – the highest level in six months.
Service Sector Momentum
The service industry production index grew 5.6%, led by information technology (12.1%), finance (9.2%), and business services (7.4%). Summer tourism and consumer spending boosted related industries, with railway transportation and telecommunications sectors showing particularly strong activity.
Tang Jie, researcher at the Chinese Academy of International Trade and Economic Cooperation, noted: "The structural improvements in manufacturing and services demonstrate our economy's growing capacity for high-quality development."
While employment and price levels remained stable, analysts highlight the need to monitor global market fluctuations and domestic consumption patterns in coming months.
