On an Upward And Upbeat Course

With major economic indicators further improving from the low base caused by COVID-19 last year, China’s GDP expanded 12.7 percent year on year in the first half (H1) of this year to over 53 trillion yuan ($8.18 trillion). The economy continued to approach the pre-pandemic level and saw high-quality growth, according to the National Bureau of Statistics (NBS).

According to Liu Aihua, a spokesperson for the NBS, the economy saw steady recovery and restructuring in H1 as the government continued introducing supporting policies for small and micro enterprises. These policies lay a solid foundation for sound performance in the second half of the year (H2). While the recovery of some sectors still lags behind, improved market expectations, expanding domestic consumption and resuming external demand boosted by global economic recovery are expected to add to the growth momentum.

“In the January-March period of this year,. “With economic activities back on track, the economic growth in H2 may slow down. The key is to ensure high-quality development through boosting domestic demand and exploring foreign markets.”