China confident of sustaining recovery momentum as economy firms up
Economy
China's economic recovery picked up steam in the third quarter and the country is confident of sustaining the current momentum amid the effective control of the novel coronavirus and the government's sweeping efforts to stimulate demand and consumption.
Xinhua丨Updated: October 20, 2020
In Q3, major indicators returned to positive territory, with industrial output rising 5.8 percent and retail sales reporting the first quarterly expansion this year, up 0.9 percent year on year.
The country's fixed-asset investment went up 0.8 percent year on year in the first three quarters, reversing a decline of 3.1 percent in the first half of this year.
Per capita disposable income rose 0.6 percent in the first nine months, compared with a decline of 1.3 percent in H1.
"Seen from the trends of the key indicators, China's epidemic prevention and economic recovery are at the world's forefront, which shows the strong resilience and vitality of the economy," said Liu Aihua, spokesperson of the NBS.
