Economy steadies with faster structural change

Source: Xinhua | 2018-06-13

DURING the first five months, total power generation in China went up more than 10 percent from the same period in 2017. The rising output of power plants signals a steady economy. Apart from the robust economic indicators, structural reforms were pushed forward in a faster pace.

Moody’s said that resource allocation in the economy is shifting in favor of industries with high added value, such as automaking. “Continued reforms will support further transition in economic structure, with more energy pumped into innovation,” it said.