August Data Points To A Broad Economic Recovery

China’s National Bureau of Statistics announced that the total retail sales of consumer goods in August reached RMB1,889 billion, up 13.4% year-on-year.

From January to August, the total retail sales of consumer goods reached RMB14,816 billion, up 12.8% year-on-year.

From January to August, the private investment in fixed assets reached RMB16,696 billion, a year-on-year increase of 23.3% in nominal terms. The growth rate remained at the same level over the first seven months.

The total investment in real estate development in the first eight months was RMB5,212 billion, up 19.3% year-on-year and 1.2% lower than that in the first seven months. Investment in residential buildings was RMB3,574 billion, up 19.2%.

From January to August, the investment in fixed assets reached RMB26,258 billion, up 20.3% year-on-year. In August, the investment in fixed assets increased 1.61% month-on-month.

In August, the total value added of the industrial enterprises above designated size was up by 10.4% year-on-year. In the first eight months, the total value added of the industrial enterprises above designated size was up by 9.5%.

China Expert Network
 

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