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Published: 13:58, May 16, 2022 | Updated: 15:56, May 16, 2022
China's economy to recover gradually from Omicron impacts
By Xinhua
Published:13:58, May 16, 2022 Updated:15:56, May 16, 2022 By Xinhua

In this Feb 15, 2022 photo, staff members work on an assembly line at a farm machinery manufacturing company in Jining City, east China's Shandong province. (GUO XULEI / XINHUA)

BEIJING – China's economy is expected to recover gradually as the country achieves major anti-epidemic outcomes and pro-growth policies take effects, a spokesperson for the National Bureau of Statistics said on Monday.

The country's economy took a hit from the domestic resurgence of COVID-19 cases in April, but the impacts are "short-lived and external”, said Fu Linghui.

READ MORE: China's industrial output up 4% in Jan-April

There are many favorable conditions for stabilizing the economy and achieving the expected development goals.

Fu Linghui, Spokesperson, National Bureau of Statistics

The fundamentals of the Chinese economy remain unchanged. The overall trends of economic transformation and upgrading and high-quality development remain unchanged, according to him.

“There are many favorable conditions for stabilizing the economy and achieving the expected development goals," said the spokesperson.

With a super-large market, complete industrial and supply chains and huge domestic demand, the world's second-largest economy has the resilience to ward off all kinds of challenges.

Fu said that despite the impacts of the epidemic, grain and energy production maintained growth during the first four months, laying a solid foundation for fighting the epidemic and promoting economic recovery. In April, the output of raw coal, crude oil and natural gas rose 10.7 percent, 4 percent and 4.7 percent, respectively, year on year.

Market supply of food and daily necessities was sufficient, with prices remaining stable. The consumer price index, a main gauge of inflation, rose just 2.1 percent year on year last month.

High-tech industries posted stellar performances, with the production of new-energy vehicles and solar cells surging 42.2 percent and 20.8 percent year on year in April.

China's economy is expected to improve in May with the accelerating resumption of work and production in Shanghai and Jilin as well as the implementation of pro-growth measures, he added.

ALSO READ: China strives to bring economy back on track amid COVID-19

Looking ahead, China will strengthen macro policy adjustment and mitigate the epidemic's impacts to ensure the economy runs within an appropriate range, Fu said.

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