STORY: Chinese economy extends upward trend amid policies to prop up growth
SHOOTING TIME: June 17, 2024 & File
DATELINE: June 17, 2024
LENGTH: 00:01:22
LOCATION: Beijing
CATEGORY: ECONOMY

SHOTLIST:
1. various of China
2. SOUNDBITE (Chinese): LIU AIHUA, National Bureau of Statistics (NBS) spokesperson
3. various of workers sorting packages
4. various of construction sites
5. various of cars

STORYLINE:

The Chinese economy extended an upward recovery trend in May, as shown by faster consumption growth and steady expansion in industrial production, latest government data showed.

Important economic indicators rebounded during the month amid government measures to prop up growth and promote high-quality development, the National Bureau of Statistics (NBS) spokesperson Liu Aihua said at a press conference in Beijing on Monday.

SOUNDBITE (Chinese): LIU AIHUA, National Bureau of Statistics (NBS) spokesperson
"Driven by such factors as macroeconomic policies taking effects, improving external demand and the May Day holiday, the services industry, consumption as well as imports and exports all rebounded in May."

In May, retail sales of consumer goods expanded 3.7 percent year on year to 3.92 trillion yuan (551 billion U.S. dollars). The value-added industrial output went up 5.6 percent year on year.

The nation's fixed asset investment rose 4 percent year on year from January to May this year. 

During Monday's press conference, Liu pointed out that China still faces challenges despite international organizations' recent upward revision of growth outlook for the Chinese economy.

The World Bank raised its forecast for China's 2024 economic growth to 4.8 percent, and the International Monetary Fund revised up China's economic outlook to 5 percent.

Xinhua News Agency correspondents reporting from Beijing.
(XHTV)