Beijing
China’s economic activities continued to normalize as the latest data on industrial output, retail sales and investment showed across-the-board improvements, but the recovery still faces uncertainties and challenges from the global spread of the novel coronavirus.
The industrial sector was among the quickest to rebound from the impact of the virus, with the value-added industrial output returning to growth last month, the first expansion since the virus outbreak as factory activities recovered amid easing containment measures.
The value-added industrial output went up 3.9 percent year on year in April, rebounding from the 1.1-percent drop in March and 13.5-percent slump seen in the first two months of the year, according to data from the National Bureau of Statistics (NBS). Adding to the recovery signs, the index measuring services production fell 4.5 percent last month, narrowing from 9.1 percent in March, while retail sales of consumer goods went down 7.5 percent, recovering from a drop of 15.8 percent a month earlier.
Fixed-asset investment declined 10.3 percent in the first four months, with the fall narrowing by 5.8 percentage points compared with the decrease in the first three months. With consolidated epidemic control efforts and the restoration of economic activities, major indices have sustained the improving momentum since March, the NBS said in a statement.—Xinhua
