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conomy plowing ahead上海419ite strong headwindsChin
For those who are concerned about China’s economic well-being, the first half-year fig
ures released by the National Bureau of Statistics on Monday may not be enough to relieve them of their worr上海419
ies, especially given the ongoing trade conflict with the United States and weakening global demand.
上海419After all, a 6.2 percent growth in the second quarter — although still within the gove
rnment’s target range of 6-6.5 percent for the year — was the weakest in nearly three decades.上海419
This, together with lukewarm trade readings released on Friday — exports fell 1.3 percent in June from a year earlier and imports dropped 7.3 percent — sugge
sts economic conditions are still severe and, with external uncertainties on the rise, the economy “is under new dow
上海419女神会所nward pressure”, as NBS spokesman Mao Shengyong said at a news conference.
But again, this is really a question of do you see the glass half empty or half full, given that
China remains one of the world’s fastest-growing major economies. While pessimists focus on the diffi
culties, optimists see the silver lining of the Chinese economy’s remarkable resilience given the headwinds it faces.上海419
For example, retail sales, a major gauge of consumption, surged 9.8 percent, much higher than the expected 8.5 percen
t and also the highest since March 2018. Many analysts attribute the progress to the central government’s ef
forts to boost domestic consumption — these range from massive tax cuts of nearly 2 trillion yuan ($291 billion) to the iss上海419女神会所
uance of 2.15 trillion yuan of special bonds by local governments for infrastructure construction.
上海419Other strong data, such as a 6.3-percent increase in industrial output an
d a 5.8-percent rise in January-June fixed asset investment, all indicate that the fund
amentals for steady growth remain unchanged and the government still has ample room for policy maneuvers.
Actually, once last month’s much-better-than-expected gains in retail上海419女神会所
sales, factory output and fixed-asset investment were announced, the market quickly cast its vot
上海419女神会所e of confidence in the Chinese economy. The benchmark Shanghai Composite Index ended 0.4 percent up on Monday a
fter casting off losses that had pushed it down as much as 1.5 percent in the morning ahead of the data release.