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National Economy Continued to Recover in May
In May, under the strong leadership of the Central Committee of the Communist Party of China (CPC) with Comrade Xi Jinping at its core, all regions and departments firmly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, adhered to the general principle of pursuing progress while maintaining stability, fully and faithfully applied the new development philosophy on all fronts, accelerated efforts to foster a new pattern of development, and focused on promoting the high-quality development of economy. As a result, the policies and measures to stabilize growth, ... (full story)
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China’s youth unemployment hits a fresh record high in May, major data disappoint
China’s youth unemployment rose to a record in May, while major data missed expectations, according to data released Thursday by the National Bureau of Statistics. The unemployment rate for young people ages 16 to 24 rose to 20.8% in May, a record and above the high set in April. The jobless rate for people of all ages in cities was 5.2% in May. Retail sales for May rose by 12.7% in May from a year ago, below expectations for 13.6% growth forecast by a Reuters poll. Industrial production rose by 3.5% in May from a year ago, slower than the 3.6% expected by the Reuters poll. Analysts forecast a 4.4% increase in ... (full story)