business

Data highlights of Chinese economy in first 10 months

BEIJING, Nov. 16 (Xinhua) — China’s economic recovery continued to gather steam with major economic indicators further improving amid the country’s efforts to coordinate COVID-19 containment and economic growth.

Here are some highlights of the Chinese economy in the first 10 months as the country’s economy keeps warming up.

— Industrial output expanded 1.8 percent from one year earlier, compared with an increase of 1.2 percent in the first three quarters.

— Retail sales went down 5.9 percent year on year, with the decline narrowing by 1.3 percentage points from the drop in the first three quarters.

— Fixed-asset investment went up 1.8 percent year on year to 48.33 trillion yuan (about 7.32 trillion U.S. dollars), 1 percentage point higher than the rise in the first nine months.

— A total of 10.09 million new urban jobs were created in the first 10 months, completing the target tasks for the whole year ahead of schedule.

— Total investment in property development rose 6.3 percent year on year to 11.66 trillion yuan, picking up from the 5.6-percent increase in the first nine months.

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