Gearing Up and Powering Forward

Tiding over the shockwaves of months of COVID-19 resurgence across the country,China’s economy is bouncing back,newlyreleased economic data showed.China’s value-added industrial output went up 0.7 percent year on year in May,reversing the 2.9 percent decline in April,an uplifting sign that manufacturing activities rebounded.The purchasing managers’index-a key gauge of manufacturing activity-reached49.6 in May,up from 47.4 in April.Meanwhile,the country’s foreign trade increased by 9.6 percent year on year to RMB 3.45 trillion in May,which brought the country’s foreign trade volume in the first five months to RMB 16.04 trillion,swelling by 8.3 percent year on year,outperforming the 7.9-percent growth in the January-April period,according to the General Administration of Customs.