China’s Improved Half Lays Foundation For Full Year Economic Recovery

In 2020 China was one of few nations that reported positive economic growth despite a lockdown and global Covid-19 pandemic. This resilience will be once again showcased this year, as the nations economy has sustained a steady recovery since the start of 2021.

An all around improved performance in GDP, job status and other economic indicators is laying a solid foundation for achieving its full-year economic and social development targets, as reported by the country’s top economic planner recently.

For the first six months, nearly all major economic indicators have shown positive results including economic growth, unemployment rate and consumer price index (CPI), the numbers have met expectations, said the head of the National Development and Reform Commission.

China’s gross domestic product expanded 12.7 percent year on year in the first half of 2021, and a total of 6.98 million new urban jobs were created. The country’s CPI rose 0.5 percent year on year during the January-June period, and foreign exchange reserves stood at 3.214 trillion U.S. dollars by the end of June.

The Middle Kingdoms fiscal policy so far this year has provided support for major strategic national tasks and contributed to the recovery of the economy as well as the improvement of people’s wellbeing, said Xu Hongcai, vice minister of finance.

Yet with external shocks persisting and new challenges arising for enterprises, he stressed that greater efforts are needed to consolidate the foundation for economic recovery at home. As for now its macro-policies is to focus on supporting the real economy, promoting employment, stimulating the vitalities of market entities and coping with potential cyclical risks.

Previous articleTechnology integration A Boon For Malaysian Businesses
Next articleReSkills Edtech’s Online Classes To Upskills & Reskills For A Better Future

LEAVE A REPLY

Please enter your comment!
Please enter your name here