While China's retail sales slightly surpassed expectations in July, industrial data fell short.

• In July, retail sales increased by 2.7% compared to the previous year, surpassing the predicted growth rate of 2.6%, as stated in a Reuters survey.
• The increase in industrial production was lower than predicted, rising by only 5.1% instead of the forecasted 5.2%.
• Real estate's negative impact on fixed asset investment increased by 0.1% from June to July, resulting in a 10.2% decline on a year-to-date basis.

China's retail sales exceeded expectations in July, but industrial production fell short of forecasts, according to the National Bureau of Statistics.

In July, retail sales increased by 2.7% compared to the previous year, surpassing the predicted growth rate of 2.6%, as stated in a Reuters survey.

The increase in industrial production was lower than predicted, rising by only 5.1% instead of the forecasted 5.2%.

Fixed asset investment growth for the first seven months of the year was 3.6%, lower than the predicted 3.9% growth by analysts. Real estate investment, which is a part of fixed asset investment, decreased by 10.2% on a year-to-date basis as of July, compared to a 10.1% decline as of June.

Their growth slowed for the year as of July due to issues with infrastructure and manufacturing components.

In July, the urban unemployment rate rose from 5% in June to 5.2%.

The bureau stated that the replacement of old growth drivers with new ones resulted in pains, as there was an adverse impact from the external environment and insufficient domestic demand.

Recent data for July suggests that consumer demand remains slow.

In July, China's consumer prices increased unexpectedly by 0.5% compared to the previous year, mainly due to a rise in pork prices. However, when excluding food and energy prices, the core CPI only increased by 0.4%, which was lower than the 0.6% increase seen in the previous month.

Imports increased by 7.2% in July, exceeding expectations, while export growth of 7% fell short of forecasts.

Second-quarter GDP grew by a disappointing 4.7% from a year ago.

Despite expanding the trade-in and equipment upgrade policy, Beijing has not significantly increased its stimulus plans.

In July, during the highly anticipated Third Plenum and Politburo policy meetings, Chinese authorities confirmed their commitment to achieving an annual growth target of approximately 5%. Additionally, they highlighted the importance of long-term objectives, such as the development of advanced technology and other "new growth drivers."

The National Development and Reform Commission, China's economic planning agency, stated that China's economy faces challenges not only from the external environment but also from structural transformation, which is "pain that must be experienced in the process of pushing for high-quality development," according to a CNBC translation of the Mandarin-language remarks made by an official earlier this month.

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