MNI BRIEF: China H2 Recovery Supported By Growing Demand: NBS

China will continue to recover in the second half supported by growing external demand and improving domestic spending although the rise in upstream prices may pose challenges, said Fu Linghui, spokesman of the National Bureau of Statistics at a briefing, as he called for close attention to rising costs and strengthening market regulation for raw materials.

Domestic demand is recovering as income rises with growing employment and the spending environment improves, and the significant rise in corporate profits and growing orders will benefit investment, Fu said.

However, the renewed surge in Covid-19 due to mutations in some countries may dampen the global economic outlook while growing commodity prices in the short-term may further pressure downstream companies, said Fu.