In a keynote speech at the opening of the 130th China Import and Export Fair in Guangzhou, Lee said the economy is on track for a sustainable and stable recovery and key indicators are now appropriate. He said it was within range.
In the first eight months of this year, the country added more than 9 million urban jobs and the number of newly registered market players reached 70,000 daily, according to the state newspaper.
Prime Minister Li Keqiang said China has the ability and confidence to reach the goals set in 2021 and that the country’s economic growth shows strong resilience and vitality. In a speech at the China Import and Export Fair in Guangzhou, Mr Lee said the economy is on track for a sustainable and stable recovery and key indicators are currently in the right range.
The Chinese economy remained on a recovery trend in August despite the pandemic turmoil and natural disasters. According to the National Bureau of Statistics, its industrial output showed stable growth in August, and value-added industrial output is an important indicator of industrial activity and economic prosperity, up 5.3% year-on-year.
According to NBS data, this number increased 11.2% from August 2019 levels. In the first eight months, industrial output increased 13.1% year-on-year, with an average two-year growth rate of 6.6%.
High-tech manufacturing output in August increased by 18.3% year-on-year, accelerating 2.7 percentage points compared to the figures registered in July.
Retail sales of consumer goods in China increased 2.5% year-on-year in August, down 6 percentage points from the previous month.
Fiber2Fashion News Desk (DS)
China’s economic growth reflects strong resilience and vitality.
Source link China’s economic growth reflects strong resilience and vitality.