China's economy maintained a stable development trend in August, according to data from the National Bureau of Statistics. Retail sales climbed 3.4% year-on-year, while industrial output rose 5.2%, painting a balanced portrait of consumption and production in Asia’s largest market.
On the consumption side, a 3.4% uptick reflects resilient domestic demand. From booming e-commerce festivals to rising travel and dining out, younger shoppers have driven spending. Mobile payments and livestream shopping remain key drivers, reshaping how China’s consumers discover and purchase goods.
Meanwhile, industrial output expanded by 5.2%, powered by manufacturing and infrastructure projects. High-tech sectors—from electric vehicles to solar panels—led the way, underscoring a shift toward innovation-led growth. This surge also highlights efforts to diversify supply chains and strengthen home-grown technology.
Analysts point to steady policy support and robust domestic demand as the backbone of August’s performance. With the next batch of economic indicators due in September, global markets will be watching to see if this balanced momentum continues into the autumn months.
Reference(s):
cgtn.com
