China's national economy in May continued a trend of qualitative improvement amid overall stability. Manufacturing rose 4.4%, equipment manufacturing 9.5% and high-tech manufacturing 15.1%, with industrial upgrading prominent.
Per China's National Bureau of Statistics, the May economy kept a 'steady-with-improvement' tone, People's Daily Online and others reported. Manufacturing value-added rose 4.4% from a year earlier.
광고 문의 · 300×250Equipment manufacturing value-added rose 9.5% and high-tech manufacturing 15.1%, continuing the upgrading of the industrial structure.
High-tech items lead
Output of 3D-printing equipment, lithium-ion batteries and industrial robots rose 54.4%, 40.0% and 27.9% respectively. High-tech manufacturing served as the engine of overall growth.
Authorities assessed the external environment as more complex and changeable, with a domestic 'strong supply, weak demand' tension prominent and some firms under operating pressure.
Balance through expanding domestic demand
The government said it would strengthen counter- and cross-cyclical adjustment and keep expanding domestic demand while optimizing supply. 'Two major' construction and 'two new' policies continue, and the year's first structural 'rate cut' has landed.
It plans to guide social resources toward priority areas through a package of fiscal and financial policies and to develop new-quality productive forces according to local conditions.
A third lens
Sinophone Bridge Times conveys China's economy on the facts of policy and statistics. Rather than foregrounding a particular reading, we place the figures and policy direction side by side so readers can judge for themselves. High-tech growth and the demand challenge are two sides of one coin, and the trend signals to regional supply chains and Chinese businesses.