Система Orphus

China's economic development remains promising: experts

07.08.2018, 21:12 2656
China has expressed confidence in achieving high-quality growth at a recent meeting of the Political Bureau of the CPC Central Committee, and the optimism is also shared by international organizations and scholars.

China's economy continues to perform well and is in a good shape, thanks to China's strategy on decisively shifting the focus of policy from high-speed to high-quality growth, according to the International Monetary Fund (IMF).

Major macro-control indicators are within a reasonable range, and the economy is running soundly, with stable growth, moderate prices, a good employment rate, and relatively stable balance of payments.

The contribution rate of the service industry to economic growth reached 60.5% in the first half of 2018, thanks to continuous optimization of the economic structure, and the contribution rate of final consumption expenditure to economic growth reached 78.5%.

Meanwhile, preventive measures put in place to control financial risks have achieved some results, changing social expectations for the better and further improving the ecological environment, thus enhancing people's sense of gain, happiness, and security.

China's GDP rose 6.8 percent year-on-year in the first half of 2018, staying within the 6.7-6.9 percent range for 12 consecutive quarters. This fully demonstrates the strong resilience and inherent stability of China's economic development, and provides a solid foundation to tackle various risks and challenges," said Yan Pengcheng, a spokesperson for the National Development and Reform Commission (NDRC).

China has a number of advantages, including institutional mechanisms to pool resources to solve major problems, the strengths of the country's manufacturing power, and the innovation and wisdom of the Chinese people, all of which provide China's economy with upward growth tendency, according to Chen Fengying, a researcher at the Chinese Institutes of Contemporary International Relations.

We can rest assured that China's economy will continue to grow," Chen said.

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