China's economy maintains stable, progressive growth

China's industrial production maintained its solid growth momentum in July, with value-added output from major industrial enterprises rising 5.7 percent year-on-year and 0.38 percent month-on-month, driven by strong performances in equipment manufacturing and high-tech sectors, which expanded by 8.4 percent and 9.3 percent respectively, official data showed on Friday.

Figures released by the National Bureau of Statistics showed that China's industrial output, which includes manufacturing, mining and utilities, rose 5.7 percent year-on-year in July, following a 6.8 percent increase in June.

Retail sales, a key measure of consumer spending, grew 3.7 percent year-on-year in July compared to a 4.8 percent rise in June.

Fixed-asset investment rose by 1.6 percent during the January-July period, compared to a 2.8 percent rise in the first half of the previous year.

The surveyed urban unemployment rate stood at 5.2 percent in July, up from 5 percent in June, according to the NBS.

The NBS highlighted that the data reflects China's steady economic momentum, demonstrating significant resilience and vitality despite the complex and volatile external environment and the adverse impacts of extreme domestic weather conditions.

Recognizing that challenges and risks persist in the external environment, the NBS reaffirmed its commitment to promoting the effective implementation of policies aimed at maintaining stability in employment, business activity, markets and expectations.