Following the publication of the high-impact China’s growth and activity data for May, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Thursday.
Key quotes (via Reuters)
China's economic operation is generally stable in July.
Rising negative impact from changes to China's external environment.
Economic recovery trend needs to be consolidated.
Expect recovery in consumption to consolidate as policies gain traction.
Falls in producer price index likely to narrow in coming months.
Expect consumer prices to remain relatively stable in future.
Domestic demand likely to improve due to policy support.
China's economic development faces more favourable conditions despite challenges and risks.
China's foreign trade remains resilient despite rising protectionism.
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