According to Liu Aihua, spokeswoman of the National Bureau of Statistics, the country is advancing towards a high quality development with macroeconomic policies that generate positive effects.

According to the spokeswoman, the services output index rose 7,7% year-on-year, representing a 0,8% improvement over September.

In October the Chinese celebrated National Day and enjoyed a little more than a week of holidays that boosted domestic consumption, travel and demand for products and goods, a boost for China’s economy.

In the midst of a complex international scenario, Beijing is giving strong political backing to the recovery with measures aimed at increasing investment, supporting the development of the real economy, further promoting the country’s reform and opening up, as well as improving public welfare.

In fact, the International Monetary Fund recently raised its economic growth forecast for China in 2023 to 5,4% due to rising consumption and the latest government measures, at a time when several Western experts were taking China’s economic collapse for granted.

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