NBS: In H1 2025, China's economy is expected to have remained generally stable

Following the release of the top-tier China's May activity data, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Monday.

Key quotes (via Reuters)

Many uncertainties in the international environment, foundation of economic recovery needs to be strengthened.

China's policy toolkit is well-stocked, has the flexibility to adjust macro policies according to changing circumstances.

Overall level of prices still at a low level, which affects enterprises, employment and incomes.

There is difficulty in recruiting workers in some sectors and a high level of pressure on employment for some groups.

Still, some pressure on maintaining stable employment, primarily due to the complex and changing external environment.

Due to factors such as increased uncertainty in trade policies, it has been particularly challenging for China's economy to maintain stable growth since the second quarter.

For the first half (H1) of this year, China's economy is expected to have remained generally stable.

Market reaction

AUD/USD keeps the red near 0.6480, down 0.12% on the day, at the press time.