Sep 04, 2023
The Chinese economy will maintain its stable and positive trend in the second half (H2) of this year, following a sustained recovery in the January-June period, an official said Friday.
During a press conference, Yuan Da, from the National Development and Reform Commission (NDRC), highlighted positive changes in various economic indicators for July such as faster growth in power generation, improving market expectations, and a two-month rise in the manufacturing purchasing managers' index.
The government's policy mix that continues to take effect will promote economic improvements, according to Yuan.
China has taken important steps to extend and strengthen favorable policies for enterprises this year. These measures range from providing tax breaks for small firms to the exemption of the purchase tax for new energy vehicles, thus creating a stable policy environment and boosting the confidence of businesses.