According to the source, this ranks China among the world’s fastest growing economies and marks a good time for the country’s development.

According to the data, domestic consumption expanded and total retail sales rose 8.2 percent year-on-year, with a higher demand for goods such as shoes, textiles, food, cosmetics, jewelry and services. The services sector alone grew 6 percent from last year, according to authorities.

Exports and imports grew by 2.1 percent, with the former exceeding 11,458 billion yuan (more than 1,500 billion dollars), while the latter increased by 8,642 billion yuan (about 1,200 billion dollars).

52.7 percent of the total value of said indicators was caused by the performance of private companies, which increased their exports and imports by 3.3 percent compared to the same period of last year.

Another notable figure was associated with investments in the high-tech industry, which grew rapidly up to 12.5 percent.

In the opinion of the authorities, macroeconomic policies have shown their effects and socio-economic life has returned to normal, but risk remains due to a complicated and unstable international environment.

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