China Economic Performance: NBS: Stable growth recorded in early 2018

World
Europe

China's National Bureau of Statistics said Wednesday that the country experienced stable, robust growth in the first two months of the year, buoyed by strong consumption. The trend is expected to continue. Sun Ye has the report.

China saw almost 10 (9.7%) percent growth from the nearly 1 trillion US dollars in retail sales during the first two months of 2018. Almost 40 percent (37.3%) of growth in online retail alone.

MAO SHENGYONG, SPOKESPERSON NATIONAL BUREAU OF STATISTICS "We're seeing a clear case of consumption stepping up in the period. More are turning to online shopping and we're also seeing the on-line-off-line shopping experience merging to become a seamless one. Consumers are now also exchanging their appliances for smart ones."

The auto sector is upgrading too, as the production volume of new-energy vehicles grew some 180 percent (178.1%), though from a small base. Manufacturing, the service industry, fixed asset investments and other closely watched areas also saw stable build-up.

MAO SHENGYONG, SPOKESPERSON NATIONAL BUREAU OF STATISTICS "China's economy has performed quite well, judging from recent figures and trends. I believe it's on track for continual growth. We will meet the 6.5 percent GDP growth target set for this year because of this. And stable growth at this level will in turn contribute to employment and better livelihoods for all."

Mao said economic performance in the period showed the country is successfully making its shift to "high-quality" growth. But he also cautioned that China will have to take extra care in the battle against financial risk, poverty alleviation and pollution. Sun Ye, CGTN, BJ.