StablEGrowthahEad+Economic+Remodeling+Improved+structure+and+more+people-beneifts+usher+in+a+new+course+for+China’s+economy.pdfVIP

Cover Story StablEGrowthahEad Economic Remodeling Improved structure and more people-benefits usher in a new course for China’s economy by deng Yaqing China’s GDP growth leveled off at 7 percent a slump in April and May, according to data from the in the first half of this year, with an array of optimis- NBS. tic signs, such as better structure, improved growth quality, faster-than-expected job creation and ac- celerated growth of residents’ income, boding well Quality growth for the ongoing reform. “At present, new growth points are still not powerful To stabilize economic growth, the Chinese enough to completely replace the position of tradi- Government unveiled a number of policies and tional engines, which now are losing their dynamic,” measures, ranging from launching key infrastructure Sheng said. He added that the fragile recovery of projects to remolding the investment and financ- the global economy added to the downward pres- ing system, from lowering the reserve requirement sures on the Chinese economy. ratios and interest rates to promoting tax cuts, from “However, the chances are the economy will encouraging innovation and entrepreneurship to ini- perform better in the second half of the year,” said tiating the Made in China 2025 strategy. “They have Sheng, who believes it isn’t a question that China begun to take effect, and the national economy is will achieve its end-of-year goal of 7 percent. undergoing positive changes,” said Sheng Laiyun, Substantial progress has been made in the spokesman for the National Bureau of Statistics optimization of economic structure. In terms of (NBS). industrial struct