The Chinese economy “is showing some positive changes” as the recent measures by the Government in support of the economy have started to take effect, said the Chinese National Bureau of Statistics.

Sheng Laiyun, a spokesman for the Bureau, said in a statement posted on its official website on Monday that, while the Chinese economy had remained “within a reasonable range” so far this year, “the major economic indicators have shown signs of improvement” in recent months.

He pointed out industry output in China increased by 6.1 percent year-on-year in May, up by 0.5 percentage points on the pace in March. China’s Purchasing Managers’ Index (PMI) for services rose to 53.8 in June from 53.4 in January.

“The improvement in main indicators is still initial and we cannot lower our guard against the downward pressure on the economy,” Mr Sheng warned. “Arduous efforts are still needed to consolidate the foundation of economic stabilisation and ensure the achievement of the full-year growth target”, he added.

Chinese Premier Li Keqiang said earlier this month he was “confident” the Chinese economy could achieve a 7-percent growth target this year, adding the Government would take “appropriate measures” when needed.

Beijing announced an interest rate cut last month, the fourth time since November, to boost lending to companies in support of the economy.

But news agency Reuters reported many analysts expected economic growth would slip below 7 percent in the second quarter. The official gross domestic product data of the April-June period will be announced on July 15.