China’s economy kept its momentum in July with stable industrial growth and a consumer spending boost, according to fresh data from the National Bureau of Statistics (NBS). 🌏 Key sectors showed resilience despite global economic uncertainties, painting a hopeful picture for Asia’s largest economy.
Industry & Services on the Rise
Industrial output jumped 5.1% year-on-year, while service sector growth accelerated to 4.8%. NBS spokesperson Liu Aihua noted \"80% of industries and 60% of products saw yearly gains\", signaling broad-based recovery. 🏭
Consumers Step Up Spending
Retail sales hit 3.78 trillion yuan ($529B), up 2.7%, driven by strong services demand. Economist Bruce Pang highlighted \"services consumption as a standout performer\", with faster growth once auto sales were excluded. 🛍️
Trade & Investment Momentum
Fixed-asset investment rose 3.6% to 28.76 trillion yuan, while foreign trade surged 6.5% to 3.68 trillion yuan. Liu emphasized \"optimized trade structures\" as key drivers. 📊
With multiple sectors firing steadily, China’s July performance offers cautious optimism for global markets. 🌐✨
