Retail sales, industrial production rise in May

By Wang Yanlin | June 13, 2014, Friday |

Online Edition

China's economy staged a mild improvement in May as both retail sales and industrial production edged up while investment slowed.

Retail sales rose 12.5 percent from a year earlier to 2.12 trillion yuan (US$345 billion) last month, according to the National Bureau of Statistics today. The pace accelerated from 11.9 percent in April.

Industrial production expanded 8.8 percent, up from 8.7 percent a month earlier.

Fixed-asset investment, however, grew 17.2 percent in the first five months, down from the 17.3 percent increase in the January-April period.

"China's economy is stabilizing," said Li Maoyu, an analyst at Changjiang Securities Co. "As the pro-growth policies filter through the economy, more indications of a recovery will be seen."

China's central bank on Monday announced it will further cut the reserve requirement ratio for targeted banks, the second such move in two months in a bid to support small companies and agriculture.

Business Economy

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Retail sales, industrial production rise in May

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