China’s value-added industrial output went up by 3.8 per cent

China’s value-added industrial output went up by 3.8 per cent year on year (YoY) in July and 0.38 per cent over the June figure. The country's retail sales of consumer goods rose by 2.7 per cent YoY last month. Other major economic indicators including the index of services production and fixed-asset investment, also posted YoY growth, National Bureau of Statistics (NBS) data showed.

The steady economic recovery led to a drop in urban unemployment rate from 5.5 per cent in June to 5.4 per cent last month, official Chinese media reported.