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Chinese economy shows positive signs

From:China Daily Update Time:07-07-2015

BEIJING -- Multiple economic indicators in recent months suggest the Chinese economy is overthe worst as pro-growth and reform measures take effect, according to the National Bureau ofStatistics (NBS).

"Positive changes are occurring due to government policies and reform measures," according toSheng Laiyun, NBS spokesperson, who made the remarks in an interview hosted on thebureau's website on Monday.

Sheng said that improvements in industrial output, fixed asset investment, and expandingconsumption indicated an economic upturn.

In May, industrial value-added output picked up pace and grew 6.1 percent year on year, up 0.2percentage points from the previous month;while urban fixed asset investment increased 9.9percent, also up compared to 9.6 percent in April; and sales of consumption goods expanded10.1 percent in May, up 0.1 percentage point from April.

The economic structure has continued to improve with high-tech sectors reporting increasingweight in industrial output, and the services industry is seeing faster investment growth, Shengsaid.

Meanwhile, structural reforms are boosting the private sector, which has reported faster industrialoutput growth. The Internet Plus strategy, the nation's digital drive, led online shopping salesvalue to grow 39.3 percent year on year in May.

The tentative upturn comes as major data is due, including GDP growth, for the second quarteron July 15.

The spokesperson said multiple factors will be able to extend these positive changes into thelatter half of the year, including a warming real estate market. Sales value of commercialproperties rose 3.1 percent year on year in the January-May period, reversing a 3.1-percent fallfor January-April, he said.

Meanwhile, easier access for private investment in previously restricted sectors, and theenormous domestic consumption potential will also contribute to stabilization, according to him.

However, Sheng cautioned that some improvements are still fragile and tentative. He said thecountry should remain watchful of downward pressure, and make harder efforts to achieve theannual growth target of around 7 percent for this year.

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