China’s factory growth slows but holds firm
China's factory output slowed in April 2025 but showed surprising resilience, said the country’s National Bureau of Statistics (NBS), a sign that government support measures could help cushion the effects of a trade war with the U.S. that threatens to derail momentum in the world's second-largest economy.
Speaking at a news conference in Beijing, NBS spokesperson Fu Linghui said China's foreign trade was able to "withstand the difficulties" to maintain a steady growth, demonstrating strong resilience and international competitiveness.
China's industrial output in April grew 6.1% from a year earlier, National Bureau of Statistics (NBS) data showed, slowing from 7.7% in March but exceeding expectations for a 5.5% rise in a poll of analysts.
Retail sales, a gauge of consumption, rose 5.1% in April, slowing from a 5.9% increase in March. Economists had expected retail sales to grow 5.5%.
Fixed asset investment expanded 4.0% in the first four months of 2025 from the same period a year earlier, compared with expectations for a 4.2% rise. It grew 4.2% in the first quarter.
China's economy expanded 5.4% in the first quarter, exceeding expectations. Authorities remain confident of achieving Beijing's growth target of around 5% this year, despite warnings from economists that U.S. tariffs could derail this momentum. Last month, Beijing and Washington escalated tariffs to over 100% in several rounds of retaliatory moves.
Beijing and Washington reached a surprise agreement last week to roll back most tariffs imposed on each other's goods since early April. The 90-day pause has put the brakes on a trade war that has disrupted global supply chains and stoked recession fears.
