The Lower Eastern Times Opening The Third Eye
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By: China Daily
China’s industrial production recorded steady growth in July, with value-added output from major industrial firms rising 5.7% year-on-year and 0.38% month-on-month, official data showed on Friday.
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The expansion was largely fueled by strong gains in equipment manufacturing and high-tech industries, which grew 8.4% and 9.3% respectively.
According to the National Bureau of Statistics (NBS), the July figure follows a 6.8% increase in June. Industrial output—covering manufacturing, mining, and utilities—continued to reflect robust momentum despite global uncertainties and adverse domestic weather conditions.
Retail sales, a key gauge of consumer spending, rose 3.7% year-on-year in July, down from June’s 4.8% growth. Fixed-asset investment grew 1.6% in the January–July period, compared to 2.8% in the first half of last year.
The urban unemployment rate climbed to 5.2% in July from 5% in June.
The NBS said the data highlights the resilience and vitality of China’s economy, while acknowledging ongoing risks in the external environment. It pledged to strengthen the implementation of measures to stabilise employment, markets, business activity, and expectations.
