三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

US EUROPE AFRICA ASIA 中文
Business / Economy

China on track for stable economic growth, transformation

(Xinhua) Updated: 2016-07-18 07:03

China on track for stable economic growth, transformation

An elderly woman (middle) receives the paper cutting meaning 'blessing' or 'happiness' .Caring for the elderly has been growing into an industry in China. [Photo/Xinhua]

BEIJING - China disclosed its mid-year economic health check, featuring indicators that the economy is generally in good shape and on track for stable economic growth and restructuring.

China's GDP in the second quarter (Q2) was a stable 6.7 percent. Although this is the lowest quarterly rate since the global financial crisis, it is within the government's range for 2016 of between 6.5 and 7 percent.

Infrastructure investment accelerated, lifting equipment manufacturing and boosting industrial production. Retail sales growth quickened on the back of a rebound in demand for consumer items. The economy is heading into the second half (H2) of this year with positive momentum.

The stabilization in growth did not come at the cost of reviving industries bogged down by over capacity, which had been a concern. Despite a pickup in steel output in June, investment growth has continued to slow. Steel investment also fell 4.3 percent in June, down from an increase of 4.5 percent in May. Housing inventory adjustment is in progress, with floor space for sale in June down 21 million square meters from March.

Meanwhile, the new economy is vibrant, new businesses are booming, and new growth momentum is accumulating. The service industry accounted for over 50 percent of GDP while high-tech production in the industrial sector grew 10.2 year on year. In addition, consumption contributed over 70 percent to overall GDP growth in the first six months.

Job data, unemployment rate and nationwide household disposable income per capita all showed that China is well on track to attain its growth target this year.

The further narrowing in PPI deflation and improvement in corporate profits, as well as solid growth momentum in new sectors will likely continue into H2. However, faced with a cooling housing market, weak private investment and external demand, H2 will be trickier to navigate than the previous half.

The world's largest developing economy, while facing continued downward pressure, still has huge potential, sufficient advantages and plenty of space for maneuvering.

China's current government debt ratio is low while the household savings rate is high, with ample policy tools at its disposal, from infrastructure investment to fiscal easing and monetary accommodation.

Most importantly, reforms on all fronts, especially on the supply side, will continue to yield positive effects on growth.

For example, centrally-administered state-owned enterprises (SOEs) reported better financial performances in H1 due to SOE reforms, and the government plans to accelerate M&A to bring their total number within 100 this year.

Meanwhile, the government is taking steps such as tax reduction to help lower the financial cost and investment risk premium for the private sector, and lower the entry barriers for private investment in growing industries.

China might experience some short-term pains during its economic transformation amid downward pressure and global market uncertainties, but the country is capable of keeping its economy on track for stable and sustainable growth.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 狠狠色噜噜狠狠狠97影音先锋 | 老年人一级毛片 | 久久99热这里只频精品6中文字幕 | 麻豆国产成人精品午夜视频 | 亚洲综合久久一本伊伊区 | 99久久精品男女性高爱 | 精品一区二区三区免费观看 | 欧美特级黄 | 中文字幕午夜乱理片11111 | 伊人久久亚洲综合 | xvideos亚洲入口地址 | 久青草香蕉精品视频在线 | 91天堂97年嫩模在线观看 | 香蕉免费高清完整 | 无遮挡高清一级毛片免费 | 最新国产在线 | 曰曰啪天天拍视频在线 | 久久久久国产精品免费 | 亚洲97i蜜桃网 | 性大片免费视频观看 | 免费麻豆国产一区二区三区四区 | 一区二区国产一区二区a4yy | 亚洲国产精品网站久久 | 狠狠色丁婷婷综合久久 | 成 人国产在线观看高清不卡 | 在线看片亚洲 | 日韩一区二区视频 | 特黄特a级特别特级特毛片 特黄特色一级aa毛片免费观看 | 伊人青青操 | 日韩一级片播放 | 高颜值露脸极品在线播放 | 欧洲在线观看在线视频吗 | 999国产精品999久久久久久 | 狠狠久久 | 日本一本高清v免费视频 | 国产国产精品人在线视 | 伊人久久精品一区二区三区 | www日韩免费高清视频 | 亚洲 欧美 精品 | 免费看黄色网页 | 男人影院在线观看 |