China's major economic statistics for May were released, and consumption trends have been on a recovery trend, with a significant increase from the same month last year, which was negative due to the impact of the new coronavirus, while growth rates Has declined compared to April, and raising the level of consumption has become an issue.
China's National Bureau of Statistics released major economic statistics for May on the 16th.
According to this, “retail sales”, which shows the trend of consumption, increased by 12.4% compared to the same month last year, which was negative due to the influence of the new coronavirus.
However, the growth rate has decreased compared to April.
May has five consecutive holidays on May Day, which was expected to lead to revitalization of personal consumption, but it lacked strength.
On the other hand, industrial production increased by 8.8% compared to the same month last year due to the increase in production of electric vehicles and industrial robots.
The Chinese economy has been preceded by the expansion of corporate production and investment due to the effects of the government's economic measures, but raising the level of personal consumption is an issue for a sustainable economic recovery.
"The Chinese economy continues to recover steadily, but there are still imbalances in the process of recovery," said Akira Tsuke, a spokesman for the National Bureau of Statistics of China.