China's economy has maintained overall stability this year and the third batch of subsidies for the consumer goods trade-in program is scheduled to be allocated in July, Li Chao, spokeswoman for the National Development and Reform Commission (NDRC), the country's economic planner, said on Thursday.
Speaking at a press conference, she pointed out that the added value of industrial enterprises above designated size in May increased 5.8 percent year on year, and the national service industry production index soared 6.2 percent during the same period of last year.
Li also noted that the total retail sales of consumer goods rose 6.4 percent year on year, marking the highest monthly growth rate since 2024. In the first five months, fixed asset investment grew steadily, with manufacturing investment increasing by 8.5 percent over a year ago. In May, the goods export in yuan-denominated terms rose by 6.3 percent, among which export to ASEAN, the European Union, and countries along the Belt and Road increased by 17.5 percent, 13.7 percent, and 13.8 percent, respectively.
"With the accelerated implementation of existing policies plus the continuous launch of reserve policies, we have the confidence and ability to minimize the uncertainties and adverse impacts brought by external shocks and promote sustained and healthy economic development," she stated.
The spokeswoman furthered said that the third batch of central funds will be issued in July to support trade-in activities. Concurrently, sector-specific implementation plans detailing the monthly and weekly allocation of central government subsidies will be developed to ensure the policy's systematic and sustained execution throughout the year.
China's economy maintains steady momentum: NDRC
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
