Domestic Consumption Propping Up Economic Revival

Supported by a range of policies on expanding domestic demands and consumption， Chinas economy is gradually gathering momentum with rising demand and overall stable employment and prices of commodities.

According to the economic data for May 2020， released by the National Bureau of Statistics， Chinas total retail sales of consumer goods exceeded RMB 3 trillion for the first time this year. Meanwhile industrial added value registered year-on-year positive growth in both April and May. In addition， the average daily outputs of steel and cement were both above the levels of the same period last year.

Whats notable is the boom of the digital economy during the epidemic with rapidly expanding telecommuting and online education platforms， along with burgeoning new business models like live streaming sales pitches via online shopping platforms. All these are buttressing the countrys economic development.