China, which has closed its economy in the first quarter of the year in order to prevent the spread of the coronavirus and has been struggling so well with the subsequent outbreaks, is claiming global leadership in the global fight against deadly disease. However, the conservative incentive approach has only created a moderate internal recovery, and the economy is still very vulnerable to disruptions to external demand, with the reintroduction of quarantine measures in some other parts of the world.
Other datas about economy of China announced today are as follows;
* Industrial production increased by 4.8 percent compared to the same period last year and caught the median forecast of economists.
* Retail sales fell 1.8 percent and lagged behind the 0.5 percent increase expectation.
* Fixed capital investments contracted 3.1 percent in the first half of the year. The expectation was that the contraction would be 3.3 percent.
* Industrial production fell 1.3 percent in the first half of the year and retail sales contracted 11.4 percent.
* Unemployment rate fell to 5.7 percent for urban areas