China Maintains Steady Growth in August Amid Global Challenges, High-Tech Investment Leads Momentum

BEIJING, Sept 16 – China’s economy sustained steady growth in August despite external uncertainties, with industrial production, retail sales, and high-tech investment showing resilience, official data from the National Bureau of Statistics (NBS) revealed Monday.

Industrial output rose 5.2 percent year-on-year, led by high-tech manufacturing, which expanded 9.3 percent. The production of 3D printers, new-energy vehicles, and industrial robots surged by 40.4 percent, 22.7 percent, and 14.4 percent respectively, underscoring strong momentum in emerging industries. Fixed-asset investment edged up 0.5 percent in the first eight months, while manufacturing investment grew 5.1 percent.

High-Tech Investment Attracts Money

Retail sales of consumer goods climbed 3.4 percent in August to 3.97 trillion yuan ($556.7 billion), supported by robust service sector growth and pro-consumption policies, including equipment upgrades and trade-in programs. Employment remained generally stable, with the urban jobless rate at 5.3 percent.

Analysts noted growth slowed compared with July due to a high base last year but emphasized that China’s economic fundamentals remain intact. With the National Day and Mid-Autumn Festival holidays ahead, consumption is expected to further boost growth. Experts predict additional fiscal and monetary support in the fourth quarter to ensure the full-year GDP target of around 5 percent is met.

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