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BEIJING, July 9 (Xinhua) – Although China is moving towards a high-quality goal, China is moving towards a high-quality goal.
With the help of China's sound economic activity and the expansion of China's sound economic fundamentals, the second largest economy of the world's second largest economy.
Purchasing managers' index (PMI) came in at 51.5 in June, above the boom-bust line of 50.
While the reading was lower than 51.9 in May, it surpbaded an average of 51.3 for the first half of this year, According to the National Bureau of Statistics (NBS).
In the first five months, profits at China's major industrial firms grew 16.5 percent, 15-percent expa
Along with economic resilience.
Along with economic resilience , the job market also remained stable, giving more room to push reforms. In May, China's survey of unemployment in urban areas declined to 4.8 percent, down from 0.1 percentage point and less than last May.
"Generally speaking, China's economic operation has maintained its trend of steady and improving development," said spokesperson NBS spokesman Mao Shengyong.
According to a forecast by financial institutions and economists, China's economy is predicted to expand 6.7 percent in the first half of 2018, slightly higher than the 6.8 percent growth seen in Q1.
In the eyes of the second half of the year, chief economist of CITIC Securities Chu Jianfang believes there will be no big risk of recession and the economy will remain resilient, citing rising industrial investment
The best-than-expected performance is largely attributable to China's supply-side structural
"The advancing of supply-side structural reforms are showing spill-over effects, and better quality of supply system will push stable growth of the economy, "said Ning Jizhe, deputy head of the National Development and Reform Commission.
Meanwhile, the country's deleveraging efforts are in a stable and orderly manner. The credit profile of China has a number of strengths, including the vast size and growth rate of its economy, denoting very high shock absorption capacity, according to a report from global rating firm Moody's.
Last month, the World Bank upgraded its The growth of the world's economy in the growth of the economy in the first half of the year (19659002) The World Bank's latest China Economic Update
Morgan Stanley also reported on the growth of China's economic growth for this year and 2019 in a research note, saying growth had become more sustainable and less binding on credit.
New York-based investment bank expects China's GDP to rise 6.6 percent year on year in 2018, up from its previous projection of 6.5 percent. Its forecast for 2019 improved from 6.3 percent to 6.4 percent.
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