The bounce was bolstered by the surge of new engines, new businesses, and new models. Investment in the pharmaceutical industry and e-commerce services, springing up amid COVID-19, registered a sharp rise of over 10 percent and 30 percent respectively.
Meanwhile, China registered better-than-expected foreign trade performances in H1, with exports and imports both rising in June.
To shore up the economy against the epidemic shock, the government has rolled out a raft of measures, including more fiscal spending, tax relief, and cuts in lending rates and banks' reserve requirements to revive the coronavirus-ravaged economy, and support employment.
Thursday's data also showed China's job market improved slightly in June, with the surveyed unemployment rate in urban areas standing at 5.7 percent, down 0.2 percentage points from the previous month.
FURTHER RECOVERY EXPECTED
Liu said she expects China's economy to continue recovering in the second half of the year, powered by the steady economic recovery in H1, rapidly growing new industries and business models, as well as the strong support from macro policies.
But she also stressed that China's economic recovery is still under pressure, given the continuing global spread of the epidemic, the evolving impact of the epidemic on the global economy, and the noticeably mounting external risks and challenges.
The worries were echoed by Wen Bin, chief analyst at China Minsheng Bank, who said in a co-authored research note that further efforts should be made to enhance macro-control and expand domestic demand, citing external uncertainties and the lingering impact of the epidemic.
【国内英语资讯:Economic Watch: Chinas economy rebounds in Q2 from epidemic headwinds】相关文章:
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