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People’s Daily highlights China’s economic resilience and targets
The outlet said growth quality in hi-tech and equipment manufacturing is helping offset risks in property, local government debt, and smaller financial institutions.
China’s ruling Communist Party flagship newspaper, People’s Daily, published back-to-back commentaries defending the country’s economic resilience and arguing that domestic risks are being contained while China provides stability to the global economy, according to SCMP Economy.
In the second half of the year, People’s Daily said major projects are expected to get under way and macroeconomic policies will take effect in a timely and effective manner, helping China keep performance within a reasonable range and successfully achieve its annual targets.
The commentaries, published under the pen name “Zhong Caiwen,” said assessments of resilience should consider the quality of growth. They pointed to continued expansion in hi-tech and equipment manufacturing, while adding that risks tied to property, local government debt, and smaller financial institutions are being addressed in an orderly way.
People’s Daily also said China is resolving and containing risks and hidden dangers in the economic field and maintaining the bottom line of preventing systemic risks.