China’s coal production slowed in April to the lowest level since July 2020, curbed by ongoing safety inspections at major coal mines following several accidents across the country. China churned out 322.22 million tonnes of coal last month, down 1.8% from the same period a year ago, data from the National Bureau of Statistics showed .
OECD raises China’s growth forecast to 8.5% this year, 5.8% in 2022
The recovery of China’s economic activity has been swift and growth will reach 8.5 percent this year and 5.8 percent in 2022, according to the Economic Outlook released by the Organisation for Economic Cooperation and Development (OECD) on Monday.
Investment will remain a key engine of growth, while consumption will recover only gradually. Robust export demand will keep industry capacity utilization high. The low proportion of imports in overall consumption means that the global surge in raw material prices will only have a limited impact on consumer price inflation, the OECD report said.
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The latest easing is part of an increasingly desperate effort to stir a demographic boom before China s remarkable growth story is bogged down by the healthcare and pension bills.