China continues recovery in May with boost from services sector

The Chinese economy continued to recover in May with the services industry showing rapid growth, although some experts noted that more support may be needed amid external headwinds and uneven recovery across sectors.

China's total retail sales of consumer goods rose 12.7 percent yearly to 3.78 trillion yuan in May. Among those numbers, the revenue of the retail sales of goods jumped 10.5 percent from last year, while the revenue in the catering sector surged 35.1 percent.

The added value of China's large industrial enterprises increased by 3.5 percent on a yearly basis in May.