China's total value-added of industrial enterprises above the designated size, an important economic indicator, expanded 4.5 percent year on year in August this year, official data showed Saturday.
On a monthly basis, the industrial output edged up 0.32 percent in August from the previous month, the National Bureau of Statistics(NBS) said in a monthly statement.
The enterprises above the designated size refer to those with an annual main business turnover of at least 20 million yuan (about 2.82 million U.S. dollars).
The value-added of equipment manufacturing grew by 6.4 percent year on year, while that of hi-tech manufacturing surged 8.6 percent, 1.9 percentage points and 4.1 percentage points faster than the average industrial production growth, respectively.
As for consumption, retail sales of consumer goods went up 2.1 percent year on year in August to 3.8726 trillion yuan (about 545 billion U.S. dollars). From January to August, the overall online retail volume reached 9.6352 trillion yuan (about 1.357 trillion U.S. dollars), up 8.9 percent year on year. The retail sales of services increased by 6.9 percent year-on-year.
"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.
China's industrial output up 4.5 pct in August
People in Panama City have firmly dismissed U.S. President Donald Trump's threat to retake the Panama Canal, calling his claims "nonsense" and saying such a move even risks world peace.
After his presidential election win in November, Trump has made a series of expansionist remarks, including stating his plans to make Canada a U.S. state, rename the Gulf of Mexico, and gain control of the Panama Canal and Greenland.
Last month, Trump accused Panama of treating the U.S. in a "very unfair and injudicious way," and has refused to rule out using military means or taking economic action in his pursuit of the Panama Canal.
At the start of this year, Panama celebrated the 25th anniversary of the handover of the canal, which had been under the control of the United States for nearly a century until the end of 1999.
During his inauguration speech shortly after taking the oath of office on Monday, Trump claimed Panama had 'violated' the treaty and said the U.S. would be "taking it back." In response, Panamanian President Jose Raul Mulino rejected Trump's position and said there is no presence of any nation in the world that interferes with the administration of Panama.
Many residents in Panama see the canal as a symbol of national pride and consider it a crucial driver of the country's economy.
Milena Marin, a local resident, criticized Trump's remarks and called on countries across Central America to stand together to protect their own interests from U.S. infringement.
"First of all, the Panama Canal belongs to the Panamanians, and we are doing an excellent job managing it. Since we took over its administration, we have been doing very well. Those (Trump's statements) are words of attack. We have to take care of our canal. It has a negative impact since [Trump's remarks] affect both the environment for us Panamanians but also the image of the country. We have been doing a great job with the management of the canal. These statements definitely affect world peace. They bring such negativity around Panama. [We need] more meetings and dialogue with Central American countries, because the more united we are, the stronger and less vulnerable we will be. And I think that the union between the countries of Central America could be a great solution," said Marin.
Meanwhile, Luis Gomez, a local photographer, said Trump's statements are lacking in reason, and said the issue should be resolved peacefully, citing the huge military disparities between the two sides.
"The president's statements do not make sense and seem a bit illogical, since Panama is such a small country that we don't even have a [traditional] military. We have no chance of being able to confront [the U.S.] because they are a powerful country. We cannot compare ourselves to a country of such size. The impact would be overwhelming for us. The canal is important not only for Panama but also for the whole world because it allows ships and goods from all over the world to pass through smoothly," said Gomez.
The Panama Canal, which started operation in 1914, serves as an important international waterway that links the Pacific and the Atlantic. It was taken over by the Panamanian government in 1999 following the terms set out in the Torrijos-Carter Treaties, which were signed back in 1977 by Panama's General Omar Torrijos and then U.S. President Jimmy Carter, ending 85 years of the colonial enclave known as the Panama Canal Zone.
Panamanian residents dismiss Trump's claims of retaking Panama Canal