China’s industrial production shifted from decrease to increase and the equipment manufacturing industry markedly rebounded in May this year. The fall in the index of services production slowed down and modern service industries sustained growth. Market sales picked up in the month and sale of goods for basic living and online retail sales continued to grow.
Investment in high-tech industries grew fast, growth of imports and exports of goods accelerated and trade structure continued to improve in the month, according to official statistics. Consumer price remained stable and growth of producer prices for industrial products continued to slow down.
In May, the total value added of the industrial enterprises above a designated size grew by 0.7 per cent year on year (YoY), while that in April it was down by 2.9 per cent. The month-on-month (MoM) growth was 5.61 per cent.
Read more about China's economy displays recovery momentum in May 2022
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