Following the publication of the high-impact China's April activity data, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Monday.

Productivity demand grew steadily.

Employment situation generally stable.
Economy grew steadily in face of pressure, continues developing in an upward trend.

China actively diversifying, expanding trade with Belt and Road initiative nations.
But there are many favorable conditions for sustained economic recovery.

Although external impact increased in April, the trend of economic recovery did not change.

Gradual implementation of policies will be conducive to the sustained recovery and improvement of the economy.

As the effect of policies continues to show, contribution from consumption to economic growth will continue to increase.
We need to recognize that the internal driving force for investment growth is ‘obviously insufficient'.

We need to improve the efficiency of investment and continue to optimize the structure of investment.

Foreign trade overcame difficulties and maintained steady growth in April, demonstrated strong resilience and international competitiveness.

The reduction of tariffs by China and the United States in the next stage is conducive to the growth of bilateral trade and the recovery of the world economy.

Against increased external shocks, China's foreign trade has been able to withstand pressure and continue to grow.

China has the conditions, ability and confidence to deal with various challenges.

Necessary to see that the current overall low prices will increase the pressure on enterprises and affect the income growth of residents.

Should continue to give full play to the role of macro policies and promote the reasonable recovery of prices.

Next step is to continuously expand demand, optimize and adjust the industrial structure, and promote the producer prices to return to a reasonable range.

Source: Fxstreet