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Economic Watch: China poised to meet economic targets for 2019
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Economic Watch: China poised to meet economic targets for 2019

Views:0     Author:Site Editor     Publish Time: 2020-01-09      Origin:Site

China has the confidence to meet growth targets in 2019 and march on the course it has mapped out for long-term development.

Readings of major economic barometers released by the National Bureau of Statistics (NBS) Monday showed faster growth in industrial output, services and market sales in November, with value-added industrial output expanding 6.2 percent year on year, up from 4.7 percent registered in October.

The production index of China's service sector increased by 6.8 percent, while retail sales of consumer goods rose 8 percent last month, both higher than October levels.

China's economy in November continued with overall stability with signs of improvement, showing resilience and potential despite external uncertainties, NBS spokesman Fu Linghui told a press conference.

Online retail sales contributed to overall retail sales of consumer goods in November, said Fu, when the country's annual Singles' Day shopping bonanza saw e-commerce giants besting their sales records.

Consumption will continue to be buoyed by stable employment, said Fu.

The surveyed urban unemployment rate nationwide stood at 5.1 percent last month, unchanged from the rate in October.

A total of 12.79 million new urban jobs were created in the first 11 months, exceeding this year's target of creating over 11 million urban jobs, according to the bureau.

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