Beijing: China's retail sales rose 5.1% year-on-year in April, falling short of market expectations, according to official data from the National Bureau of Statistics released on Monday. The figure for the world's second-largest economy was lower than the anticipated 6% annual increase, signaling a slowdown in domestic demand within China. According to Anadolu Agency - English, industrial production for the same period showed a more robust performance, climbing 6.1% year-on-year and exceeding expectations of a 5.7% rise in April. However, this growth marked a slowdown from March's 7.7% increase, suggesting that the impact of US tariffs was less severe than initially anticipated. Chinese investment in fixed assets, such as real estate and infrastructure, experienced a 4% increase over the first four months of the year, which fell short of market expectations of a 4.4% growth rate. Meanwhile, the country's unemployment rate showed a slight improvement, decreasing to 5.1% in April from 5.2% the previous month. The backdrop to these economic developments includes the imposition of 145% tariffs on Chinese imports by US President Donald Trump, which took effect in April. In retaliation, Beijing implemented 125% tariffs on American goods. Despite these trade tensions, Chinese exports surged by 8.1% year-on-year in April, surpassing expectations. Following the escalation of the trade dispute, US and Chinese officials convened in Geneva, Switzerland, on May 10-11 to negotiate tariff reductions. During these talks, both nations agreed to lower tariffs for 90 days. As a result of the negotiations, the US consented to reduce its tariffs on Chinese goods from 145% to 30%, while China agreed to lower its tariffs on US goods from 125% to 10% for the same duration.