MNI BRIEF: Economy To Continue Recovery - NBS Spokesperson

China’s economy will continue to improve in the near term as government policies to stabilise the housing market and promote the private economy increasingly take effect, said Fu Ling Hui, spokesperson at the National Bureau of Statistics at a press conference on Friday.

Authorities will further support economic growth through deepening reform and opening which includes creating a unified market. Overall, China's economy displayed recovery momentum in Aug, but domestic demand remained insufficient, Fu noted.

Industrial production rose 4.5% y/y in Aug to hit a four-month high, outperforming the 4.0% forecast and accelerating from July's 3.7%. Retail sales increased 4.6% y/y in August, beating expectations for 3.0% and quickening from July's 2.5%. (See: MNI BRIEF: China Aug Production, Spending Rebound As Expected - Bonds & Currency News | Market News)