Economic recovery firmly underway

Improving situation: A man works at a bicycle rim factory in Hangzhou. The growth in China’s producer price index, which gauges factory-gate inflation, turned positive for the first time in 12 months, coming in at 0.3% year-on-year last month. — Reuters

BEIJING: China’s economy remains on a solid track to recovery as price levels picked up while corporate borrowings increased last month, experts said.

But the recovery in consumption and the services sector remained subdued in January, underlining the necessity of more structural policy support and making any sharp tightening in monetary policy unlikely, they said.