China's economy generally stable with steady growth in May: Govt

In May, the total value added of industrial enterprises in the country above the designated size grew by 5.8 per cent year on year (YoY) and 0.61 per cent month on month (MoM). The value added of manufacturing went up by 6.2 per cent YoY in the month.

The total retail sales of consumer goods in the month reached 4,132.6 billion yuan—up by 6.4 per cent YoY and 0.93 per cent MoM. In the first five months this year, the value reached 20,317.1 billion yuan—up by 5 per cent YoY; online retail sales reached 6,040.2 billion yuan—up by 8.5 per cent YoY.

In the first five months, investment in manufacturing grew by 8.5 per cent YoY. The floor space of newly-built commercial buildings sold was 353.15 million sq m in the period—down by 2.9 per cent YoY.

In May, the total value of imports and exports of goods in China was 3,809.8 billion yuan—up by 2.7 per cent YoY. Specifically, the value of exports was 2,276.7 billion yuan—up by 6.3 per cent YoY, and the value of imports was 1,533.1 billion yuan—down by 2.1 per cent YoY.

In the first five months, the total value of imports and exports of goods was 17,944.9 billion yuan—up by 2.5 per cent YoY. The value of exports was 10,668.2 billion yuan—up by 7.2 per cent YoY, and the value of imports was 7,276.7 billion yuan—down by 3.8 per cent YoY.

In the first five months, the urban surveyed unemployment rate averaged 5.2 per cent. In May, the rate was 5 per cent, 0.1 percentage points lower than that of the previous month, the bureau said in a release.

In May, the consumer price index (CPI) went down by 0.1 per cent YoY and 0.2 per cent MoM. In the first five months, the CPI went down by 0.1 per cent year on year.

The CPI for clothing went up by 1.5 per cent YoY in May this year.

ALCHEMPro News Desk (DS)