BEIJING — China's economy has shown a stabilizing trend despite downward pressures in the second quarter (Q2) brought by the complex global environment and domestic COVID-19 resurgences.
Here are some highlights of the Chinese economy amid the government's efforts to curb the COVID-19 resurgences and boost economic and social development.
— Despite steep falls of major economic indicators in April, China's gross domestic product (GDP) secured a positive growth of 0.4 percent year-on-year in Q2, thanks to a slew of supportive policies that quickly took effect in the following months.
In the first half (H1) of 2022, China's GDP rose 2.5 percent year-on-year.
— China's value-added industrial output went up 3.4 percent year-on-year in H1.
In June alone, industrial output growth increased to 3.9 percent year-on-year, rising by 3.2 percentage points from that in May.
— China's June consumption reversed from declines seen in April and May. Retail sales of consumer goods went up 3.1 percent year-on-year in June.
— Fixed-asset investment saw steady growth in H1, jumping 6.1 percent from a year earlier to 27.14 trillion yuan (about $4.02 trillion).
Investment into the high-tech manufacturing and services sectors sustained growth momentum in H1, jumping 23.8 percent and 12.6 percent year-on-year.
— Foreign trade registered robust growth in June, accelerating to 14.3 percent year-on-year, compared with 9.5 percent in May and 0.1 percent in April.
From January to June, China's foreign trade of goods jumped 9.4 percent year-on-year to 19.8 trillion yuan.
— China's consumer inflation remained stable in June, with a rise of 2.5 percent year-on-year.
Factory-gate inflation continued to ease, with an increase of 6.1 percent year-on-year, down 0.3 percentage points from the previous month.
— Employment has improved, with the surveyed urban unemployment rate standing at 5.5 percent in June, down from 5.9 percent in May.