The latest macroeconomic data for May showed China's economy continued to maintain an overall stable and positive outlook.

 

五月最新宏观经济数据显示，中国经济继续保持总体稳定与乐观的趋势。

 

The positive signals sent out by the production and consumption end showed strong resilience of China's economic development, indicating the country's resistance to any uncertainties¹, Xinhua reported.

 

China's industrial production is currently stable, with room for further boosting domestic demand, said Liu Feng, chief economist² with China Galaxy³ Securities. "The inflation is mild and consumption is stable. With further expanding domestic demand, the country can effectively offset⁴ the trade war impact on imports and exports," he added.

 

Industrial production was stable and the service sector⁵ developed rapidly. In May, the added value of industries above a designated scale grew by 6.8 percent year-on-year, with a 0.3 percentage points increase in growth speed from the previous year. The national service sector production index rose 8.1 percent on a yearly basis, with a 0.1 percentage points increase in growth speed monthly.

 

Investment, consumption and export demand remained steady. Retail⁶ sales rose 8.5 percent in May from a year earlier. China's fixed⁷ asset investment grew by 6.1 percent on a yearly basis through to May this year. Total imports and exports rose 8.6 percent in May from a year earlier, with a 1.5 percentage points increase in growth speed monthly.

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