BEIJING – While the Chinese economy returned to a stabilizing trend in April after a stronger-than-expected first quarter, the traction behind its firm steps is somehow different from what it used to be.
Though the official April economic indicators were basically flat or even softened slightly from the March level, strides are being made on the restructuring side, which focuses more on consumer spending, innovation and services.
For instance, while growth in China’s retail sales slowed 0.2 percentage points from the March level to 10.7 percent in April, consumption activities in rural areas expanded at a quicker pace of 12.6 percent, and online retail sales surged 32 percent.
Meanwhile, fixed asset investment in high-tech indus…
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