China's State Council Information Office held a press conference Monday in Beijing to release a raft of major economic indicators of the first two months of 2025. The country's economy got off to a steady start, with new and positive development momentum.

On March 17, 2025, the State Council Information Office holds a press conference in Beijing on China's economic performance of the first two months of 2025. [Photo by Liu Jian/China SCIO]

China's industrial output up 5.9% in first 2 months >>

China's value-added industrial output, an important economic indicator, went up 5.9% year on year in the first two months of 2025.

The manufacturing sector grew by 6.9%. The value added of equipment manufacturing increased by 10.6% year on year, 2.9 percentage points faster than that of 2024. The value added of high-tech manufacturing increased by 9.1%. 

In February alone, the industrial output grew by 0.51% from January.

Services sector shows steady growth

In the first two months, the Index of Services Production grew by 5.6% year on year, 0.4 percentage point faster than the annual growth rate of 2024.

In February, the Business Activity Index for Services was 50% and the Business Activity Expectation Index for Services was 56.9%.

Shoppers browse a supermarket in Zaozhuang, Shandong province, Jan. 9, 2025. [Photo/Xinhua]

China's retail sales up 4% in first 2 months >>

China's retail sales of consumer goods climbed 4% year on year in the first two months of 2025, totaling more than 8.37 trillion yuan (US$1.17 trillion).

Online retail sales jumped 7.3% year on year to around 2.28 trillion yuan in the period. In particular, online retail sales of physical goods rose 5% year on year to 1.86 trillion yuan, accounting for 22.3% of the total retail sales of consumer goods. 

A drone photo taken on Feb. 27, 2025, shows the construction site of a primary school in Xiong'an's start-up area, Hebei province. Xiong'an New Area is making progress on construction projects with a focus on high quality and standard. [Photo/Xinhua]

China's fixed-asset investment up 4.1% in first 2 months >>

China's fixed-asset investment went up 4.1% year on year to 5.26 trillion yuan in the first two months of this year, 0.9 percentage point higher than the annual growth rate of 2024.

Investment in infrastructure construction rose 5.6% from a year ago during the period, and manufacturing investment increased 9%.

Imports and exports of goods remain generally stable

In the first two months, the total value of imports and exports of goods was 6.54 trillion yuan, down 1.2% year on year.

Imports and exports by private enterprises went up 2%, accounting for 56.4% of the total value of imports and exports, 1.8 percentage points higher than that of the same period last year. The exports of mechanical and electrical products went up 5.4%, accounting for 60% of the total value of exports. 

A recruiter introduces job requirements to prospective applicants at a job fair in Changsha, Hunan province, Feb. 7, 2025. [Photo/Xinhua]

Urban unemployment rate stands at 5.3% >>

China's surveyed urban unemployment rate on average stood at 5.3% in the first two months of 2025.

In February, the surveyed urban unemployment rate was 5.4%, up from 5.2% in January.

NBS spokesperson Fu Linghui said that the rate typically fluctuates in the January-February period due to the Spring Festival holiday, which ran from Jan. 28 to Feb. 4 this year.

China's CPI down 0.1% in first 2 months >>

In the first two months, the consumer price index (CPI), a main gauge of inflation, decreased by 0.1% over the same period last year.

On a monthly basis, the CPI went up 0.7% in January and down 0.2% in February.