Further signs that China's Rmb4,000bn ($586bn) stimulus packages had spurred economic activities in the country emerged on Friday, as Beijing announced growing factory output, new bank lending and a jump in retail sales last month. But economists warned that growth in the private sector remained weak.
Industrial production rose 8.9 per cent in May from a year earlier, higher than April's 7.3 per cent growth. Retail sales increased 15.2 per cent after a 14.8 per cent rise the previous month.
The strong data came a day after China said investment surged to record highs last month and although exports and imports fell, economists said they had stabilised and were basically flat if measured on a monthly, seasonally-adjusted basis.
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