Equipment and high-tech manufacturing sectors stand out in latest economic report

The Chinese economy maintained steady momentum last month, with industrial production growing at a faster pace, driven by robust performances in equipment and high-tech manufacturing, the National Bureau of Statistics said on Sept 15.

The country's industrial output expanded by 5.2 percent year-on-year in August, up from 4.5 percent in July, official data showed.

In particular, the equipment manufacturing and high-tech manufacturing sectors maintained robust growth, with value-added output rising 12.1 percent and 16.7 percent year-on-year, respectively.

Retail sales increased by 0.4 percent year-on-year in August, compared with 0.6 percent in July, the data showed.

Meanwhile, the decline in fixed-asset investment came in at 7.2 percent year-on-year in the first eight months, widening from 6.7 percent in the first seven months, according to the NBS.

The surveyed urban unemployment rate stood at 5.3 percent in August, up from 5.2 percent in July, the data showed.

The economy continued its recovery in August, underpinned by stronger contributions from new growth drivers and continued structural improvements, the bureau said.

However, external headwinds intensified and the imbalance between strong supply and weak demand remained pronounced, the NBS said, calling for stronger macroeconomic policy support to expand domestic demand and promote industrial upgrading.