BEIJING: China’s technology and manufacturing sectors are showing renewed strength, but weak consumer demand and a continuing property downturn are creating a complicated economic picture.
Industrial output increased 5.2% year-on-year in August, supported by growth in areas including artificial intelligence, industrial robots and lithium-ion batteries. At the same time, retail sales increased only 0.4%, highlighting weak household demand.
Property investment also plunged nearly 20% year-on-year, adding to concerns about the country’s broader economic recovery.
The contrasting figures show the challenge facing Beijing: China is becoming increasingly powerful in advanced manufacturing and technology while domestic consumption remains relatively weak
