Vehicles loaded onto containers at Yantai Port in Shandong province on July 15. [Photo/Xinhua]
China's economy showed resilience in the first half of the year, as new growth drivers gathered momentum alongside policy support and a recovery in domestic demand, although relatively weak domestic consumption and an uncertain external environment remain key challenges, a senior researcher said on Wednesday.
Chen Wenling, a senior researcher at the Academy of Contemporary China and World Studies, said at a China News Service economic outlook forum that the economy had managed to repair weaknesses caused by the COVID-19 pandemic and a deteriorating global trading environment while simultaneously generating new sources of growth.
She attributed the improvement partly to the combined effect of existing and newly introduced policy measures, saying fiscal, monetary and industrial policies had worked together to support the recovery and foster new growth drivers. At the same time, exports remained resilient while domestic demand continued to recover, creating a more balanced growth pattern.
Against this backdrop, China largely achieved its major economic objectives during the first half, Chen said, stabilizing overall growth, improving the economic structure, expanding new sources of growth and containing major financial and economic risks.
