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National Economy Sustained the Good Momentum of Recovery in April
In April, 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 create a new pattern of development, and ensured early and coordinated effects of macro policies. As the economic and social activities have fully returned to normal, the ... (full story)
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China’s retail sales jump 18% as data continues to portray uneven recovery
China’s economic data for April continued to show an uneven recovery path as the economy continues to emerge from the impact of its stringent Covid restrictions. Industrial production for April rose by 5.6% year-on-year, compared to the 10.9% expected by economists surveyed in a Reuters poll. The figure was up 3.9% in March following a muted start to the year. Retail sales rose by 18.4% – lower than economists’ forecast a surge of 21%. Fixed asset investment rose by 4.7%, against expectations of 5.5%. The reading rose 5.1% the previous month. China stocks have pared most of the gains seen this year. The ... (full story)