April data shows China’s economy growing steadily

China fully resumed normal social and economic operation in April, with multiple output and demand indicators registering faster growth, indicating continued upward momentum in economic performance.

Last month, the world’s second-largest economy saw a steady expansion in industrial output, consumption and the services sector, among others, data from the National Bureau of Statistics (NBS) showed Tuesday.

The value-added industrial output went up 5.6 per cent year on year, 1.7 per cent age points higher than that of March.

In particular, the production of new-energy automobiles and solar cells surged 85.4 per cent and 69.1 per cent year on year, respectively.

The retail sales of consumer goods, a major indicator of the country’s consumption strength, surged 18.4 per cent year on year to nearly 3.5 trillion yuan (about 503 billion U.S. dollars).

The country’s production index of the services sector rose 13.5 per cent year on year last month, 4.3 per cent age points faster than that of March.

In the first four months, fixed-asset investment rose 4.7 per cent year on year to 14.75 trillion yuan, with investment in high-tech manufacturing and services increasing 15.3 per cent and 13.4 per cent , respectively.

While major economic indicators have pointed to sustained economic development, the NBS spokesperson Fu Linghui warned of challenges including the complex international situation and insufficient domestic demand.

Looking forward, China will expand demand, accelerate the development of a modern industrial system, and work hard to promote high-quality economic development, said Fu.