China to place stabilizing growth in more prominent position, to draft more targeted, forceful policies – state planner
MACRO POLICY & REGULATION
China to place stabilizing growth in more prominent position, to draft more targeted, forceful policies – state planner
MACRO POLICY & REGULATION

China to place stabilizing growth in more prominent position, to draft more targeted, forceful policies – state planner

 

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China will place stabilizing economic growth in a more prominent position, make targeted and vigorous macro adjustments, focus on expanding domestic demand, lifting market confidence, draft a batch of more targeted and more forceful policies which will be introduced based on changes in economic situation, said the National Development and Reform Commission (NDRC), the top economic planner, at a press conference on Friday.

China’s economy is expected to maintain a steady upward trend in the second half of the year based on the recovery in the first half as a series of macro policy measures kick in, it said.

Based on the latest data, some indicators are picking up, electricity generation grew by 5.9% on year in July, accelerating by 1.5 percentage points from the previous month, market expectation is improving and the manufacturing PMI has improved for two straight months, the NDRC said.

China’s government departments are rushing to implement new policies introduced based on the changes shown in the economic operations in the second quarter, according to the NDRC.

The policy measures for guiding lower market interest rates, promote consumption on big-ticket items, promote city village redevelopment and public infrastructure construction in super large cities and expand REIT issuance in infrastructure have been implemented, it said.