BEIJING (Reuters) – China’s industry ministry said on Tuesday that “arduous efforts” will be needed to achieve this year’s industrial output growth target due to economic uncertainty in the second half.
Favourable and unfavourable factors will come into play in the latter half of 2019, with both upward momentum and downward pressures co-existing, the Ministry of Industry and Information Technology said in a statement given out at a press conference.
China has set a 2019 industrial output target of 5.5%-6.0%.
Industrial production grew 6.3% in June from a year earlier, picking up from May’s 17-year low of 5.0%, in a volatile first half knocked by a prolonged trade war between China and the United States and softer domestic demand.
(Reporting by Stella Qiu and Ryan Woo; Additional reporting by Beijing Newsroom; Editing by Kim Coghill)