China's industrial economy has maintained a momentum of steady and sound growth in the first half of the year as industrial output increased 6.9 percent on a year-on-year basis, the best performance in the past three years. Zhu Sendi, a special consultant for the China Machinery Industry Federation, said: "The manufacturing sector has made a great contribution to the recovery of the real economy. Moreover, the integration of manufacturing sector with internet, artificial intelligence, the internet of things has deepened, which drives the economy's steady growth." Zhu added the industrial economy will maintain a growth rate of between 6 percent and 7 percent in the second half. Moreover, work on cutting overcapacity in the iron and steel sector accelerated with 84.8 percent of the yearly capacity-cutting target achieved in the first five months.

Source: The China Post July 25, 2017 23:03 UTC