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China's factory output, retail sales increase

Reporter: Wu Guoxiu 丨 CCTV.com

12-13-2016 16:09 BJT

Fresh government data shows that China's economy continues to do well. The National Bureau of Statistics said at a news conference Tuesday that there was accelerated growth in factory output and retail sales in November. 

There are growing signs of stabilization, for the Chinese economy. Data from the National Bureau of Statistics shows that China's factory output increased 6.2 percent in November from a year ago and was also higher than in October.

"Particularly, equipment manufacturing and high-tech industries became the major driving force of industrial growth in November. That indicates a growing structural reform trend in the industries."said Mao Shengyong,spokesman of The National Bureau of Statistics.

The NBS said that retail sales expanded by more than 10 percent from last year in the first 11 months of this year. The NBS also said November retail sales were especially strong thanks to the November 11th online shopping extravaganza.

Meanwhile, the NBS reported that fixed-asset investment, a gauge of infrastructure spending, increased more than 8 percent from January to November. NBS spokesman Mao Shengyong attributed the growth to supply-side structural reforms.

"Thanks to the supply-side structural reforms and appropriately expanding the aggregate demand, and with the efforts of major market actors such as enterprises, overall economic development kept performing in a proper range with positive changes accumulated in November."Mao Shengyong said.

The spokesman said the positive changes need to be consolidated and extended. He also spoke of economic uncertainties that exist in China and abroad.

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