Figures from China's National Statistics Authority today showed that value-added industrial output, an important economic indicator, increased by 3.5 percent year on year in the first seven months of this year.
According to data reported by Xinhua, in July alone, industrial output grew by 3.8 percent on an annual basis, up 0.38 percent from the previous month.
Industrial output measures the activities of large enterprises, each of which has a business revenue of at least 20 million yuan, or about 2.97 million US dollars.
The bureau's data also showed that the country's retail sales of consumer goods rose 2.7 percent year on year in July, with total sales reaching 3.59 trillion yuan, or about $532.6 billion.
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