China's economy demonstrated resilience in July with key indicators pointing to stable expansion, according to official data released Friday. Retail sales rose 3.7% year-on-year while industrial production grew 5.7%, signaling continued recovery momentum amid global economic uncertainties.
The National Bureau of Statistics (NBS) report highlights improved consumer confidence, particularly in services and electronics sectors. Industrial growth was led by advanced manufacturing and green energy technologies, reflecting China's ongoing structural upgrades.
Analysts note the figures suggest effective implementation of targeted fiscal policies and monetary support measures. 'These balanced growth patterns indicate our economy is transitioning to high-quality development,' an NBS spokesperson stated during the data release.
While export-oriented industries face external demand challenges, domestic consumption and infrastructure investment remain strong drivers. The stable performance comes as China intensifies efforts to boost innovation-led growth, with July's tech investment figures showing 9.2% annual increase.
