Analysts confident about China's growth

CNC
Added On August 20, 2019

Official data released on Wednesday show that China's industrial output, retail sales and fixed-asset investment grew at a slower pace in July.

 
But in breakdown, the data also showed the country's economic rebalancing and industrial upgrades continued apace, injecting vitality into the economy.
 
It's evidence that the government's pro-growth measures are gradually kicking in.
 
Those measures include large-scale tax cuts and fee reductions, increasing issuance of special government bonds and incentives to create jobs.
 
The output of high-tech manufacturing expanded 8.7 percent year on year in the first seven months, nearly 3 percentage points faster than that of overall industrial output.
 
New growth drivers are prospering and taking up a larger share in the economy, representing the potential for longer-term growth.
 
The outcomes came as China managed to cope with a range of downside risks.