The Chinese mainland’s holdings of US Treasury debt hit a fresh 12-year low in June, latest US official data showed, renewing contentions over what’s behind the downtrend amid escalating tensions between the world’s two biggest economies and an ailing US economy.
China released a set of main economic indicators for July on Monday, with industrial profits and retail sales maintaining growth but the growth rate slowing down from June, indicating continued recovery in the world’s second-largest economy as well as lingering downward pressure from both global and domestic factors.
As several regions in China are sweltering under temperatures above 40 C, the country s meteorological authorities have continued to issue high temperature alerts for 25 consecutive days, and meteorologists believe the summer of 2022 has witnessed the strongest heat wave in six decades. They also predicted the long-lasting heat wave will become a
China s retail sales witnessed positive growth after a consecutive two-month decline, and officials forecast that it will maintain an upward trend in the second half of this year, reflecting China s con-sumption power shrugging off the impact of epidemic.
Major Chinese e-commerce platforms have reported record sales during this year s just-ended June 18 (618) shopping festival, shrugging off concerns that consumer demand is