Economy numbers show China still a worthwhile investment: media

China's latest economic data explain why the country is still worthwhile for US companies, CNN reported on July 15.

The country's gross domestic product expanded 12.7 percent from a year earlier in the first half of the year and rose 7.9 percent yearly in the second quarter, according to the National Bureau of Statistics.

"All told, activity in China remained strong in (the second quarter)," Julian Evans-Pritchard, senior China economist at Capital Economics, said in a note to clients.

China's 7.9 percent growth is noteworthy as its recovery solidifies, and keeps the country on track to easily surpass its annual growth target of over 6 percent. The data also underscore why the US and other multinational firms are determined to keep doing business in China.

According to US clothing company Levi Strauss, its revenue in China during the second quarter was 3 percent higher than the same period in 2019.

"As one of our largest growth opportunities, we remain focused on maintaining this momentum," CNN reported, citing the company's CEO Chip Bergh.

Ramon Laguarta, CEO of the US soft drink and snack food giant PepsiCo,  praised the strength of the company's China business on a call with analysts last week, pointing to the strong economic recovery following the COVID-19 pandemic.

For many foreign companies, China provides great opportunities they cannot miss, given the size of its consumer base and its continued pace of growth, CNN reported.