China factories rebound from latest COVID slump

China's factory output rebounded in May, adding to a recovery from the latest COVID-induced economic slump after controls that shut downShanghai and other industrial centers eased. A spokesperson of China's national statistics bureau said data suggest the economy has transformed from decline caused by the recent wave of COVID-19 to gradual recovery. He added that some enterprises are facing temporary difficulties, costs are rising and profits are declining affected by the epidemic.