Time to buy $JD-SW(09618)$
China's Economic Recovery updates
China's October economic data reflected a cautious recovery, driven by government stimulus measures, with growth observed in industrial output and domestic consumption.
The unemployment rate in China declined to 5% in October, the lowest level since June, reflecting a stronger labour market. Industrial output grew by +5.3% year-on-year, slightly below market expectations, due to slower production in utilities such as electricity and gas. Despite this, manufacturing and mining activities saw growth of +5.4% and +4.6%, respectively, with high-tech manufacturing surging by +9.4%. Notably, the production of new-energy vehicles rose by +48.6%, industrial robots by +33.4%, and integrated circuits by +11.8%.
MIDF Research noted that these indicators underscore the positive effects of Beijing's recent policy measures, which aim to revitalise the economy.
China's economic rebound comes as consumerspending picks up, though the property market crisis remains unresolved.
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