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BEIJING, June 17 (Reuters) – China’s industry ministry called for “looking beyond the surface of data” in analysing economic operations in a \u200cmeeting with local industry officials on Wednesday, an official readout \u200cshowed.<\/p>\n
The meeting, chaired by Vice Industry Minister Xin Guobin, took place a day after official \u200beconomic data showed that growth in industrial output in May had beaten expectations.<\/p>\n
“We should strengthen situation analysis and policy reserves, accurately analyse the actual conditions and trend changes in economic operations by looking beyond the surface \u200cof data,” said the readout \u2060released by the Ministry of Industry and Information Technology (MIIT).<\/p>\n
China set its 2026 economic growth target at 4.5%-5%, slightly \u2060lower than the 5% pace achieved last year, signalling greater room to address industrial overcapacity and rebalance the economy.<\/p>\n
Data showed that economic growth lost some \u200bsteam \u200bin the second quarter, as domestic \u200bdemand remained lukewarm and fixed-asset \u200cinvestment dropped. But a global AI boom has lifted demand for Chinese-made electronics and other AI-related goods, offering a boost to advanced manufacturing sectors and a buffer against shocks from the Iran war.<\/p>\n
Separate data showed that factory activity stalled in May as new export orders contracted and \u200cinput costs kept rising.<\/p>\n
At the meeting on \u200bWednesday, the MIIT called on officials to \u200bpromote the stable operations of \u200bthe industrial economy in the second quarter and strive \u200cto meet annual targets.<\/p>\n
The ministry \u200bhighlighted the need for \u200bbalancing supply and demand in the economy, and urged officials to “plan well for energy supply and emergency disaster prevention and mitigation \u200bduring the peak summer \u200cseason.”<\/p>\n
Industry officials from 11 provinces, including manufacturing powerhouses Guangdong and \u200bJiangsu, attended the meeting, according to the readout.<\/p>\n
(Reporting by Yukun Zhang \u200band Ryan Woo;Editing by Ros Russell)<\/p>\n<\/p><\/div>\n