2024-07-30 20:03:47
China’s economy is showing good recovery rates, but is facing difficulties that indicate “not a strong enough recovery,” said Han Wenxiu, deputy head of the Office of the Financial and Economic Commission of the Central Committee of the Communist Party of China (CC CPC), Day.Az reports, citing TASS.
“At present, China’s economy is maintaining a good pace of recovery, showing steady progress in qualitative development, and the main macro indicators are in line with expectations,” he noted. “At the same time, it is also facing some difficulties and problems.”
According to him, the economy is facing insufficient effective demand, difficulties of individual enterprises, and financial problems of regional governments. Han Wenxiu noted that this shows that “China’s economic recovery is not strong enough, and there are differences between different regions, industries and companies.”
China’s GDP growth rate in January-June reached 5%, amounting to 61.68 trillion yuan (about $8.64 trillion at the current exchange rate). In the second quarter, the country’s GDP growth rate was 4.7%, while in January-March it reached 5.3%.
The 3rd Plenary Session of the 20th CPC Central Committee was held in Beijing from July 15 to 18. It was devoted to issues of comprehensively deepening reforms and advancing the country’s modernization.