The National Bureau of Statistics said in an accompanying statement that enterprises are facing challenges such as weak demand, tight funds and high operating costs, and the basic needs of economic recovery Further compaction.
To support the rebound, China’s central bank this month unexpectedly reduced the amount of cash banks must hold in reserves for the first time this year.
While business and consumer sentiment are starting to improve, manufacturing remains under pressure amid sluggish global demand and persistently high costs.
