China is set to steadfastly pursue its annual economic and social development goals in the second half of 2024, according to a recent State Council report presented to the nation's top legislature.
Xiangli Bin, deputy head of the National Development and Reform Commission, delivered the report to the Standing Committee of the 14th National People's Congress. He highlighted that the implementation of the national development plan is progressing well, with key indicators like economic growth, employment, and international balance of payments meeting expectations.
Despite these positive strides, the report acknowledges ongoing uncertainties, including the changing external environment and challenges in domestic demand. To address these, China plans to accelerate major reforms such as constructing a unified national market and deepening fiscal, taxation, and financial sector reforms.
Going forward, macro policies will be enhanced with a focus on targeted counter-cyclical adjustments to stabilize growth and mitigate risks. The second half of the year will also see efforts to expand domestic demand by stimulating consumption, stabilize foreign trade and investment, promote rural revitalization and urbanization, boost green and low-carbon development, and improve people's livelihoods.
With these comprehensive strategies, China aims to navigate the complexities of the global economy and ensure sustained development and prosperity for its residents.
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