The Resilience, Potential of China's Economy amid Headwinds(1)

An electric vehicle is displayed at the booth of the FAW-Volkswagen during the 19th China (Changchun) International Automobile Expo in Changchun, capital of northeast China's Jilin Province, July 15, 2022. (Xinhua/Zhang Nan)

BEIJING, July 18 (Xinhua) -- China's economy secured positive growth against all the odds in the second quarter and expanded 2.5 percent year on year in the first half of 2022, showing resilience and potential amid headwinds.

Due to the increasingly complex, grave situation abroad and Omicron flare-ups at home, major economic indicators fell sharply in April, a rare scene for the world's second-largest economy.

The downward tendency, however, has been quickly checked following a slew of pro-growth measures and effective control of COVID-19 resurgences.

The data released on Friday shows an economy that has increasingly regained its footing.

The value-added industrial output reversed its downturn in May and accelerated its growth in June. The purchasing managers' index for the manufacturing sector has been back to the expansion zone, indicating the growing confidence of manufacturing enterprises.

Consumption has improved as retail sales of consumer goods rallied 3.1 percent year on year in June, following year-on-year drops in April and May. The recovery is expected to continue as China is on a trajectory of consumption expansion, upgrades, and innovations.