China's retail sales up 4.8% in October

China reported sustained recovery trends in October due to a set of incremental policy measures that have significantly bolstered market confidence, key economic indicators revealed on Friday.

Figures released by the National Bureau of Statistics showed that China's value-added industrial output, a gauge of activity in the manufacturing, mining and utilities sectors, grew by 5.3 percent in October from a year earlier after a 5.4 percent rise in September.

Retail sales, a key measurement of consumer spending, grew by 4.8 percent year-on-year in October, up from the 3.2 percent growth in September.

In the January-October period, fixed-asset investment, a gauge of expenditures on items including infrastructure, property, machinery and equipment, grew by 3.4 percent compared to the previous year, flat with the growth figure in the first three quarters.

The surveyed urban jobless rate came in at 5 percent in October versus 5.1 percent in September, according to the NBS.

Despite the strengthened recovery momentum, the NBS also highlighted challenges from a more complicated and grimmer external environment, and continued weak domestic demand, saying more efforts should be made to further consolidate the foundation for economic recovery.

The NBS has called for further moves to accelerate the implementation of a package of incremental policies and strive to achieve the preset economic and social development goals this year.