— This is the script of CNBC's news report for China's CCTV on July 15, Wednesday.
Welcome to CNBC Business Daily, I'm Qian Chen.
China's economic pulse appears to be steadying, with June retail sales and industrial production as well as second-quarter gross domestic product (GDP) all beating forecasts.
GDP grew 7.0 percent on-year in the second quarter, beating a Reuters poll forecast for 6.9 percent. Industrial output for June rose 6.8 percent on-year, beating a Reuters poll forecast for 6.0 percent, while last month's retail sales climbed 10.6 percent, ahead of the Reuters poll forecast for 10.2 percent.
Jian Chang, Chief China Economist from Barclays, told CNBC that we might see a stronger recovery of Chinese economy in the second half.
[Jian Chang, Chief China Economist, Barclays] "The second half of the year, the growth is supposed to be better than the first half of the year because we had a very weak first quarter. And we saw the government has accelerated policy easing, monetary easing, local government debt swap right? To help to boost local government financing and to support the infrastructure investment."
Even though more than 40% of global growth comes from Asia, growth is undershooting forecasts.
According to Bloomberg, exports are falling in 9 out of 12 major Asian economies. The slump, which spans India to Malaysia and South Korea, is partly a consequence of China's deceleration.
So, in the second quarter, a pick up of China's internal demand might be a booster of economies that depend on exporting.
Let's take a look at China's export and import data of June.
The country's global trade surplus widened by 47 percent over a year earlier to $46.5 billion.
If we compare that with the US and the Eurozone....
China's trade surplus with the 27-nation European Union, its biggest trading partner, was $12.5 billion. The surplus with the United States was $22.8 billion.
CNBC's Qian Chen, reporting from Singapore.
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