Skip to Content Facebook Feature Image

China sees steady economic growth in August

China

Video Player is loading.
Current Time 0:00
Duration -:-
Loaded: 0%
Stream Type LIVE
Remaining Time -:-
Â
1x
    • Chapters
    • descriptions off, selected
    • captions off, selected
      China

      China

      China sees steady economic growth in August

      2024-09-14 11:27 Last Updated At:19:17

      China saw steady economic growth in August this year as indicated by the official data released by the National Bureau of Statistics (NBS) on Saturday.

      "In August, the national economy operated in a stable manner on the whole. We adhered to the general principle of seeking progress while maintaining stability and implemented the new development philosophy accurately and comprehensively, strengthened macroeconomic control and focused on promoting high-quality development. The production demand continued to recover and employment and prices remained basically stable. The high-quality development continued to advance. The economy witnessed a generally stable situation and steady development," said NBS spokeswoman Liu Aihua at a press conference in Beijing.

      In August, China's value-added industrial output, an important economic indicator, expanded 4.5 percent year on year, said Liu. On a monthly basis, the industrial output edged up 0.32 percent in August from the previous month.

      The industrial output measures the activity of enterprises each with an annual main business turnover of at least 20 million yuan (about 2.82 million U.S. dollars).

      As for consumption, retail sales of consumer goods went up 2.1 percent year on year in August.

      The official data showed the rural consumption gained 3.9 percent last month from a year ago and the catering sector saw its revenue rise 3.3 percent, well above the average level.

      By products, sales of communication equipment climbed 14.8 percent, cereals, oil and food went up 10.1 percent, medicines increased 4.3 percent, and home appliances rose 3.4 percent. In the first eight months combined, retail sales of consumer goods increased 3.4 percent compared to a year earlier.

      Online sales remained as a bright spot, rising steadily by 8.9 percent year on year in the January-August period. In particular, sales of physical goods increased 8.1 percent, accounting for a quarter of total retail sales.

      In terms of investment, the spokeswoman said that China's fixed-asset investment rose 3.4 percent year on year in the first eight months of 2024, totaling 32.94 trillion yuan (about 4.64 trillion U.S. dollars) during the period.

      Investment in infrastructure construction rose 4.4 percent from a year ago during the January-August period, and manufacturing investment increased 9.1 percent. In particular, investment in high-tech industries posted robust growth, up 10.2 percent in the period.

      Excluding the property sector, which was still under adjustment, the country's fixed-asset investment climbed 7.7 percent year on year in the first eight months. Meanwhile, investment in property development fell 10.2 percent.

      China's job market remained stable in the January-August period as the surveyed urban unemployment rate dropped on a year-on-year basis, official data showed on Saturday.

      The average of surveyed urban unemployment rate stood at 5.2 percent in the first eight months of 2024, down 0.1 percentage points from the same period of last year.

      In August alone, the unemployment rate was 5.3 percent, up from 5.2 percent in July.

      China sees steady economic growth in August

      China sees steady economic growth in August

      China sees steady economic growth in August

      China sees steady economic growth in August

      China sees steady economic growth in August

      China sees steady economic growth in August

      China sees steady economic growth in August

      China sees steady economic growth in August

      Next Article

      Promotional video of CMG Spring Festival Gala screened at cultural events in Europe

      2025-01-20 16:52 Last Updated At:17:07

      A promotional video of the 2025 Spring Festival Gala, a grand Chinese Lunar New Year celebration presented by China Media Group (CMG), was screened at various cultural events to mark the upcoming festival in European countries including Greece, Ukraine and Germany.

      The Chinese embassies in Greece and Ukraine held receptions last Friday to mark the assumption of office of the new Chinese ambassador to the host country and to celebrate the upcoming Spring Festival, marking the start of the Chinese Lunar New Year.

      At the receptions, the promotional video of the gala was screened and colorful cultural performance was staged, captivating the audience in attendance.

      "I think this promotional video is very good. I would expect a lot of technological effects and elements in the gala. This year, I will invite my friends over again to make dumplings and watch the Spring Festival Gala together, which, I think, will be very significant," said Yu Shuxian, an overseas Chinese in Athens, Greece.

      In Germany, attendees of cultural events held in Hamburg and Gottingen also watched the promotional video and said they eagerly look forward to enjoying the gala on the eve of the Chinese Lunar New Year on January 28.

      The gala, also known as "Chunwan" in Chinese, has been broadcast live annually on the Chinese New Year's Eve since 1983, and has been seen as a major cultural symbol for the traditional Lunar New Year celebrations in China.

      The 2025 Spring Festival gala will be the first edition since the Spring Festival's successful inclusion on UNESCO's Representative List of the Intangible Cultural Heritage of Humanity.

      For Chinese people, the gala has evolved beyond a mere television show. It represents a nationally shared experience, a collective memory, and its evolution is in many ways representative of China's wider technological growth and social development.

      Promotional video of CMG Spring Festival Gala screened at cultural events in Europe

      Promotional video of CMG Spring Festival Gala screened at cultural events in Europe

      Recommended Articles
      Hot · Posts