BEIJING — In a world rattled by uncertainty, China’s factories are quietly showing signs of determination and resilience. Despite the ongoing global challenges, from harsh trade disputes to shaky domestic demand, the country’s industrial engines are still humming—perhaps more steadily than many had feared.
According to data released on Monday by the National Bureau of Statistics (NBS), China’s industrial production rose by 6.1% in April compared to the same month last year. While this was a touch below March’s 7.7% growth, it still exceeded the 5.7% forecasted by analysts in a Bloomberg survey—offering a glimmer of optimism in a difficult climate.
“The national economy withstood pressure and grew steadily in April,” said the NBS, acknowledging what it called a “complex situation of increasing external shocks and layered internal difficulties and challenges.”
That “pressure” has a human face—millions of factory workers, entrepreneurs, and small business owners navigating tariffs, inflation, and slowing consumer spending. Just last week, a tentative truce between the U.S. and China led to a 90-day reduction in tariffs. This offered a sigh of relief to exporters who’ve spent months uncertain about whether their goods would make it past international borders at a profit.
But challenges remain close to home. China’s retail sales, an important measure of how much households are spending, rose just 5.1% year-on-year in April—below expectations and a slight drop from March. Families are spending cautiously, reflecting ongoing concerns about the economy’s stability and the job market.
Still, there’s some positive news on that front too. The urban unemployment rate nudged down to 5.1% from 5.2% in March—a small but welcome step for those seeking work.
Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, believes the outlook remains hopeful. “Economic activities softened only marginally in April as exports stayed resilient despite higher US tariffs,” he noted, adding that the recent easing of tariffs could help exports stay strong and keep momentum steady in the coming months.
However, the property sector continues to cast a shadow. Once a major driver of economic growth, housing prices slipped again in April—dropping in 67 out of 70 major cities. This signals ongoing caution among consumers and developers alike.
In the face of these pressures, China’s ability to maintain industrial strength is a testament to both policy flexibility and the grit of its people. The road ahead remains uncertain, but for now, the gears of the world’s second-largest economy are still turning—slowly, but surely.
