国内英语资讯:Economic Watch: Chinas economy resilient, rebalanced in H1_时事

国内英语资讯:Economic Watch: Chinas economy resilient, rebalanced in H1

During the Jan.-May period, high-tech manufacturing investment increased by 10.2 percent year on year, exceeding the growth rate of all manufacturing investment by 7.5 percentage points, data from the National Bureau of Statistics (NBS) showed.

The country showed its market dynamics through strong sales of imported brands and high-quality products during an online shopping festival in June.

Data from China's e-commerce giant JD showed that its turnover of fresh imported goods increased by three times compared to a year ago on June 4, highlighting urban and rural residents' continued consumption upgrades.

In recent years, neighboring economies such as ASEAN and South Korea have become increasingly dependent on the Chinese market, and China has become an important demand generator and contributor for the global market, said Bi Jiyao, deputy director of the Academy of Macroeconomic Research.

"From external-demand-oriented to domestic market-driven, China's economic rebalancing has made significant progress," Bi said.

GROWTH ENGINE SHIFTED

The role that technological innovation plays in economic development has been enhanced since the beginning of the year, with solid progress made in restructuring industries.

In May, the added value of high-tech manufacturing grew by 9.4 percent year on year, which was 4.4 percentage points higher than that of all industrial enterprises above designated size, NBS data showed, with accelerated growth of medical instrumentation, aviation and spacecraft.