China's economy shows good recovery momentum in May

0 Comment(s)Print E-mail Xinhua, June 15, 2022
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China's economy has gradually overcome the negative impacts of the epidemic, with main indicators showing marginal improvement in May, Fu Linghui, spokesperson for the National Bureau of Statistics, said Wednesday.

"The economy is showing a good recovery momentum," Fu said at a press conference, but he warned that the economic recovery still faces many difficulties and challenges.

Fixed-asset investment rose 6.2 percent in the first five months, compared with a 6.8-percent gain in the first four months.

Industrial output grew 0.7 percent in May from a year earlier, after falling 2.9 percent in April.

China's exports jumped 15.3 percent year on year in May, shattering expectations, as factories restarted and logistics snags eased.

The nationwide surveyed urban unemployment rate fell to 5.9 percent in May from 6.1 percent in April.

Retail sales fell 6.7 percent year on year in May, compared with a 11.1-percent decline in April.

"Consumption is still recovering from the fallout of the epidemic and will continue the momentum with employment remaining stable," Fu said.

"China is expected to register a reasonable economic growth in the second quarter if the epidemic is effectively controlled and the pro-growth measures are taking effect," the spokesperson said.

Looking into the future, the country will effectively coordinate epidemic prevention with economic and social development, step up macro policy adjustments, and make every effort to ensure the implementation of pro-growth policies to promote sustained economic recovery, he said.

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