China's Economic Performance: Overall economy stable in January, February

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02:14

So far, 2019 has turned in positive numbers on a few economic fronts. China's bureau of statistics says the nation's economy remained generally stable in the first two months of this year. And it continues to show a positive trend. However, the economy still faces challenges. CGTN's Sun Tianyuan reports.

Pursuing higher quality growth. The National Bureau of Statistics says it's the direction China continues heading. Overall industrial production, specifically new industries, grew rapidly in the first two months of the year. Combine that with an 8-point-6 percent increase in high tech industrial investment, and 2019 is off to a solid start.

MAO SHENGYONG, SPOKESPERSON CHINA'S NATIONAL BUREAU OF STATISTICS "There were drops in automobile and phone production, but also a growth in mid and high level manufacturing. Market expectations are positive. And more policies such as tax reductions will come out soon to support manufacturing in the next stage."

The nation also saw sound development in its service sectors. Information transmission grew almost 27 percent. But as the economy transforms, China's GDP in 2018 dipped slightly compared to the previous year. Mao says there were influences both at home and abroad.

MAO SHENGYONG, SPOKESPERSON CHINA'S NATIONAL BUREAU OF STATISTICS "In 2018, China faced instability and uncertainty from overseas, especially in foreign trade. These factors cannot go unnoticed."

In the first two months, the total value of imports and exports increased 0.7 percent to 4,500 billion yuan. In December, it was down 1.2 percent. And as for domestic issues.

MAO SHENGYONG, SPOKESPERSON CHINA'S NATIONAL BUREAU OF STATISTICS "We've been working to improve livelihood, employment, and environment altogether to promote high-quality development. As long as growth stays within a reasonable range, we will continue to push economic adjustment and industrial upgrades."

SUN TIANYUAN BEIJING "The bureau says China still faces downward pressure. They feel the next step is to further stabilize the country's economy for a solid 2019. Sun Tianyuan, CGTN, BEIJING."