China’s Economy Shows Signs of Accelerated Growth, According to National Development and Reform Commission
Yuan Da, deputy secretary-general of the National Development and Reform Commission (NDRC) and director of the Comprehensive Department, recently revealed that China’s economy is experiencing an accelerated growth rate of physical indicators. Speaking at a press conference held by the NDRC, the Ministry of Finance, the People’s Bank of China, and the State Administration of Taxation, Yuan Da emphasized the positive impact of the country’s macro policies on economic development.
Since the beginning of the year, the NDRC has been actively working with relevant parties to implement macro policies and promote coordinated efforts. The aim is to stimulate the economy and address the challenges posed by changes in the international environment and domestic cyclical structural contradictions. As a result, the country has witnessed continued recovery and growth in its national economy.
According to the latest available data on economic operations, the growth rate of physical quantity indicators has accelerated. In July, the national unified power generation increased by 5.9% year-on-year, marking a 1.5 percentage point increase from the previous month. Additionally, market expectations have improved, and the manufacturing purchasing managers’ index (PMI) has shown two consecutive months of recovery.
Yuan Da credits the success to the various policies implemented by the Chinese government, often referred to as “combined boxing.” These policies, aimed at promoting high-quality economic development, have effectively dealt with the challenges posed by the global economic landscape. As a result, the Chinese economy is expected to maintain a stable and positive trend in the second half of the year, building upon the continuous recovery witnessed in the first half.
The positive outlook for China’s economy is not only encouraging domestically but also attracts global attention. As the country continues to implement its comprehensive policies, market watchers will closely monitor the performance of key economic indicators to assess the overall health and resilience of the Chinese economy.
Overall, China’s accelerated growth rate of physical indicators and improved market expectations indicate a positive economic outlook for the second half of the year. With the effects of “combined boxing” policies continuing to emerge, China is well-positioned to navigate the challenges of the international environment and maintain its trajectory of economic recovery.