Economic activities in China show 'stable recovery': govt

17 Jul '20

2 min read

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China's industrial output went up by 4.4 per cent year on year (YoY) in the second quarter of this year, according to latest National Bureau of Statistics (NBS) data, which showed industrial output went up 4.8 per cent YoY in June alone—faster than the 4.4-per-cent expansion seen in May and marking the third consecutive month of growth. Overall, the country’s economy has gradually overcome the impacts of the pandemic and activities have shown a stable recovery, NBS said in a statement.

But with the global spread of the virus, domestic recovery still faces pressures, the bureau added.

Output in the manufacturing sector went up by 5.1 per cent in the first half of this year, with the same in the high-tech manufacturing sector rising by 10 per cent, an official news agency reported.

In the first half, industrial output fell by 1.3 per cent because of the 8.4 per cent slump in the first quarter. Last month, output by the industries in the production and supply of electricity, thermal power, gas and water reported the quickest recovery by expanding 5.5 per cent YoY.

The country's imports in June rose for the first time this year as stimulus boosted demand for building materials, while exports also edged up as overseas economies reopened after lockdowns.

The output of the private sector went up 4.8 per cent year on year in June, while that of state-controlled enterprises rose by 4.9 per cent and that of joint-stock companies increased by 5 per cent and that of overseas-funded enterprises by 4.2 per cent.

Fibre2Fashion News Desk (DS)

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