China’s economy grew in the second quarter of 2023 by 6.3%, against expectations of 7.3%.<\/p>\n\n\n\n
On a quarterly basis, the Chinese economy grew by 0.8% in the second quarter, slowing down from 2.2% levels, but it came better than expectations that indicated a growth of 0.5%.<\/p>\n\n\n\n
A spokesman for the National Bureau of Statistics, Fu Lingwei, pointed out that China is facing a complex international geopolitical and economic environment, and said that China can still achieve the growth target for the whole year, as Beijing set in March a growth target of about 5% for the year 2023.<\/p>\n\n\n\n
Retail sales for the month of June rose 3.1%, slightly below expectations of 3.2%, as restaurant, sports and leisure sales, along with alcohol and tobacco, rose the most.<\/p>\n\n\n\n
Automotive, office products and daily-use goods saw sales decline in June from a year ago, and online sales of physical goods grew 6.7% in June over a year ago.<\/p>\n\n\n\n
Industrial production for the month of June rose 4.4% from a year earlier, better than the forecast of 2.7%.<\/p>\n\n\n\n
Fixed asset investment rose for the first half of the year by 3.8%, better than expected by 3.5% within fixed asset investment, real estate fell more year-on-year in June than it did in May.<\/p>\n\n\n\n
Investment in manufacturing grew at a steady pace, while growth in investment in infrastructure slowed.<\/p>\n","protected":false},"excerpt":{"rendered":"
China’s economy grew in the second quarter of 2023 by 6.3%, against expectations of 7.3%. On a quarterly basis, the Chinese economy grew by 0.8% in the second quarter, slowing down from 2.2% levels, but it came better than expectations that indicated a growth of 0.5%. A spokesman for the National Bureau of Statistics, Fu …<\/p>\n","protected":false},"author":9,"featured_media":31476,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,37,36],"tags":[6832,10337,8108],"class_list":["post-86604","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates","tag-china","tag-micron","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/86604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=86604"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/86604\/revisions"}],"predecessor-version":[{"id":86605,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/86604\/revisions\/86605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31476"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=86604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=86604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=86604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}