Chinese Economy Makes a Stable Start in 2019

market expectations.

Investment in the tertiary industry expanded 6.5 percent in the past two months, picking up pace from the 5.5-percent increase in 2018.

After deducting price factors, retail sales of consumer goods grew 7.1 percent in real terms, accelerating from December’s 6.6-percent rise, a sign of rising domestic demand.

Meanwhile, the industrial structure continued to improve. Production in strategic emerging industries maintained fast expansion, with its output increasing by 10.1 percent, 4.8 percentage points higher than the general industrial output growth.

The output of new-energy vehicles saw a surge of 53.3 percent year on year, while solar cell production rose by 13.5 percent.

Investment in hi-tech industries and industrial technology improvements jumped 8.6 percent and 19.5 percent year on year, both faster than the overall growth of fixed assets investment.

China’s consumer confidence index edged up 2.3 points to 126 in February, pointing to positive market expectations. Despite mounting external uncertainties, the data was the latest in a slew of economic barometers that showed resilience and progress in the Chinese economy.

The purchasing managers’ index for the manufacturing sector came in at 49.5 in January, slightly up from 49.4 in December last year, offering fresh signs of stabilization.

The growth in China’s foreign trade of goods rebounded strongly after the weeklong Spring Festival holiday. In the first eight days of March, the country’s foreign trade soared 24.7 percent year on year, with exports rising nearly 40 percent.

Admitting the downward pressure for the Chinese economy, Mao is confident that China can maintain stable and healthy economic growth this year with the solid implementation of counter-cyclical adjustment policies.