President Xi Jinping States that the Chinese Economy is Stable and in Line with Expectations
According to president Xi Jinping during a meeting with Chinese economists said that the economic growth of the country is basically stable and in line with current expectations. That country is now in lieu and will push ahead with the supply side structural reform and continue in the implementation of prudent monetary and proactive fiscal policies.
Although the transition from the old to new growth engines takes time, but new growth engines are playing a larger role in boosting growth. By having a sound economic long term fundamentals remain unchanged and economy has a good resilience and potential, providing wiggle room that will cope with th current challenge of a slowdown and economic restructuring process is still on track. Policymakers using a stable macroeconomic policies that will anchor social expectations while using major reform measures in raising social confidence in the development of the country. UK’s current leave vote rattled the global financial market and major economies has diversified growth performance. The global economic environment of a weaker growth with high uncertainty left the external demand is affected.
The Chinese government remains committed in delivering the growth target ans they expect policy support to be stepped up once again if downward economic pressures from domestic demand or in exports will intensify. China fixed asset investment have edged up in June, but exports has fallen. And according to the National Bureau of Statistics released a growth related data in June and for the first half of the year. As China faces a heavy downward growth pressure, the effect of the supply side structural reform in manufacturing is apparent with the reduction of excessive production capacity is making headway. The large number of new projects for the first half of the year will help prevent economic growth from falling drastically.
For the second half of the year, China must continue to carry out the supply side structural reform and take in more growth stabilizing measure as stabilization of growth is an important task saying that china adopts appropriate policies that are in line with the changing situation ensuring growth will remain within the targeted range.