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#1 2018-10-08 07:12:12

Registered: 2018-01-06
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BEIJING, Feb. 16 (Xinhua) -- A string of economic indicators in January paint a rosy picture of the world's second largest economy with steady growth and reform progressing, but keeping up the good work remains no easy task.

China's economic performance in the first month of 2017 surprised the market in several ways, from expanding factory activity to recovering trade and rising corporate financing demand.

The country's manufacturing sector expanded for six consecutive months up to January, indicating factory optimism on future demand.

Echoing the positive figures, China's foreign trade continued its recovery in January thanks to an improving global economy, with both imports and exports posting double-digit year-on-year rises and total trade volume surging 19.6 percent compared with January 2016.

In addition to improved foreign demand, domestic demand is also rising, with producer prices growing faster than expected while consumer inflation is rising.

The latest credit and social financing data indicate that China's reform efforts are working as less new yuan loans were approved in January for the bubble-prone property sector, compared to those issued for industrial firms.

"China's economy is growing steadily with improved quality so far this year as previous reform efforts and policies begin to take effect," said Zhao Chenxin, spokesman for the National Development and Reform Commission.

The top economic planner approved 18 large fixed asset investment projects with investment totalling 153.9 billion yuan (22.44 billion U.S. dollars) last month amid efforts to stabilize economic growth by boosting infrastructure investment.

It was lower than the 184 billion yuan investment approved in December but higher than the monthly average of 142 billion yuan reported for 2016.

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2018-10-08 07:12:12



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