A woman chooses canned food at a supermarket in Qingdao, Shandong province, Sep 9, 2016.(Photo provided for China Daily)
China's economic growth remained on track in November, although investment and industrial output growth eased, a senior official of the National Bureau of Statistics said Thursday.
Retail sales increased by 10.2 percent year-on-year last month, compared with 10 percent in October, according to data released by the NBS.
In November, industrial output growth was 6.1 percent, down from 6.2 percent, while fixed-asset investment reached 7.2 percent in the first eleven months, down from 7.3 percent in the January-October period.
Real estate development investment, a key pillar of the national economy, increased by 7.5 percent year-on-year in the first eleven months, down from 7.8 percent in the first ten months.
"The national economy in November maintained stable momentum and showed strong stability and resilience," NBS spokesman Mao Shengyong said at a news briefing. "However, we should be aware that there remain many external risks and the country still faces great challenges in seeking high-quality development."
One encouraging sign came from the Northeast China region, including Heilongjiang, Jilin and Liaoning provinces, where private investment growth — a key indicator of economic activity — turned positive to reach 0.3 percent in the January-November period, compared with minus 3 percent in the first ten months.
China registered a GDP growth of 6.8 percent in the third quarter, slightly down from 6.9 percent in the first half of the year.