Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

China Focus: China to resolutely implement supply-side structural

July 27, 2016


Abstract : As China's economy faces continued downward pressure and settles into a "new normal" stage, supply-side structural reform becomes ever more important, according to a statement.

BEIJING, July 26 (Xinhua) -- As China's economy faces continued downward pressure and settles into a "new normal" stage, supply-side structural reform becomes ever more important, according to a statement released by the Political Bureau of the Communist Party of China (CPC) Central Committee after meeting Tuesday.

China's economy held steady in H1, and supply-side structural reform has seen progress, noted the statement.

"However, the downward pressure facing the economy remains, and potential risks deserving attention still exist," it noted.

The statement underlined the importance of proactive fiscal policy and prudent monetary policy, as well as the careful management of the speed and direction of macro-economic policy.

China's GDP expanded 6.7 percent in Q2, the lowest growth rate since the global financial crisis in early 2009.

The economy is widely expected to follow an L-shaped path as downward pressure continues and new growth momentum is yet to pick up.

The statement said credit structures should be optimized to support the real economy. The yuan's exchange rate is expected to remain stable at a reasonable and balanced level.

As the economy cools, falling demand has led to excess industrial capacity, which is seen as one of the most urgent issues facing the Chinese economy.

The statement said cutting stockpiles and overcapacity were key tasks in the latter half of the year. To achieve this the country should deepen the reform of state-owned enterprises and push forward urbanization.

At a meeting of senior political advisors Monday, Chinese President Xi Jinping called for confidence and resolution on implementing economic strategy.

He asked political advisors to provide practical suggestions for the implementation of supply-side structural reform.

Xi also underlined the importance of poverty relief, which is a key factor in China building a well-off society. He hoped political advisors would closely monitor the poverty relief effort. Enditem

Scan the QR code and push it to your mobile phone

Keyword: China-Economy supply-side New-normal

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial