China’s economic situation in the first half of the year was steadily improving, and now the second half has come, whatis the next step?
The country will stick to the policy of “seeking improvement in stability”, according to a senior Chinese economic official.
China’s economy grew at a faster-than-expected 6.9 percent in the second quarter, matching the first quarter’s pace.
But analysts expect growth to slow down in the second half as the real estate sector cools and borrowing costs for firms climb.
Efforts will be made in six areas, said Yang Weimin, vice minister of the Office of the Central Leading Group on Financial and Economic Affairs.
Yang elaborated that six aspects will include:
Unswervingly deepening supply-side structural reform;
Actively yet prudently dissolving the accumulated local government debt risk;
Deeply and solidly renovating financial chaos;
Practically stabilizing the real estate market;
Stabilizing foreign and private investment;
Paying increased attention to people’s livelihood related work.