(Yicai) Dec. 15 -- China is set to realize its main whole-year development goals as the national economy is bouncing back and last month’s major indicators related to industries, services, consumption and exports continue to improve, a spokesperson at the National Bureau of Statistics said.  

The economy has effected a sustained recovery this year as demand for merchandise and services keeps growing, Liu Aihua said today. Last month, the total retail sales of consumer goods expanded 10.1 percent from a year ago, 2.5 percentage point faster than a month ago.

Most macroeconomic data had big year-on-year gains in November, said Wang Qing, chief macro analyst at Golden Credit Rating International. But month-on-month recovery is slowing and last month, the purchasing managers’ indexes for both manufacturing and services were in contraction territory. 

The real estate sector is still sluggish, Wang said. In the first 11 months, investment in real estate plunged 9.4 percent from a year ago. The transaction value of home sales slumped 5.2 percent, the floor area sold sank 8 percent and the floor area of new builds plummeted 21.2 percent. 

Social financing is on the rise at the end of the year as fiscal policies rolled out in October take effect, Wang said. The economy is expected to continue to improve in a stable manner.

Investments in infrastructure jumped 5.8 percent in the first 11 months year on year, a slowdown of 0.1 percentage point from the first 10 months but 2.9 percentage points faster than overall investment growth.  

The issuance of more government bonds will guarantee funding for infrastructure investment, said Wu Chaoming, deputy director at Chasing International Economic Institute. But given the time gap between the issuance of the bonds and their implementation in projects as well as slow land sales and the restraints imposed to resolve implicit debts, infrastructure investment will keep sliding, he added. 

Editor: Kim Taylor