China’s economic operation is generally stable in July

Following the release of China’s high-impact growth and activity data for May, the National Bureau of Statistics (NBS) expressed its outlook on the economy during Thursday’s press conference.

Key quotes (via Reuters)

China’s economic operation is generally stable in July.

Increasing negative impact due to changes in China’s external environment.

The trend of economic recovery must be strengthened.

Expect the recovery in consumption to strengthen as policies gain ground.

The decline in the producer price index is likely to moderate in the coming months.

Expect consumer prices to remain relatively stable going forward.

Domestic demand likely to improve due to policy support.

China’s economic development is facing more favorable conditions despite challenges and risks.

China’s foreign trade remains resilient despite rising protectionism.