Chinese authorities predicted a stable and positive growth of the national economy in the second semester of 2023, after notable results in the first six months of the year.

Beijing.- According to the National Development and Reform Commission, several indicators showed encouraging figures in July, including faster growth in power generation, improving market expectations, and an increase in the manufacturing purchasing managers’ index.

The Commission considered that the macro policies implemented by the government will promote economic improvements because they are intended to create a stable environment and increase business confidence.

It noted that another set of measures is being put into effect on time to provide strong political support for the recovery.

Authorities seek to increase investment, support the development of the real economy, further promote the reform and opening up of the country, as well as improve public welfare.

As the National Bureau of Statistics revealed recently, the Gross Domestic Product grew 5.5 percent year-on-year in the first semester, thanks to increasingly stronger domestic consumption after the COVID-19 pandemic, so China is among the economies with the most rapid growth in the world and a good time for the development of the country.

According to People’s Bank of China Vice Governor Liu Guoqiang, monetary conditions are reasonable and moderate, while residents’ expectations remain stable.

China will seek to further reduce the gap between supply and demand by implementing financial support and investment policies mainly in production and infrastructure. (PL)