China Jan-April property investment up 10.3 pct y/y

Donna Kwok UBS Senior China Economist discussses China’s retail sales and industrial production data

China's industrial output beat forecasts in April but retail sales slumped, official data showed Tuesday (May 15), as the world's second largest economy faces headwinds from its debt battle and United States trade frictions.

Steady economic growth in April lays a good foundation for achieving China's full-year growth target, a spokeswoman from the country's statistics bureau said Tuesday.

"China's economy maintained its trend of steady development in April", NBS spokesperson Liu Aihua said.

Investment growth had been expected to ease only slightly to 7.4 percent in the first four months from the same period a year earlier, compared with 7.5 percent in January-March.

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Output in the mining sector fell 0.2 percent year on year amid a government drive to restructure and optimize the industry. NBS data showed "Overall steel output in the world's top producer climbed to 76.7 million tonnes in April, up 3.7% from March and up 4.8% from April a year ago".

China's second-largest producer, China Coal Energy Co., previously said it produced 6.4 million tonnes of coal in April, up more than 6 percent compared with the same period previous year.

China's fixed-asset investment rose 7 percent in the first four months of the year, down from 7.5 percent for January-March.

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