Securing quality and efficient economic growth. These are the foremost tasks identified by China’s State Council for the second half of the year.
The State Council in particular emphasized boosting domestic demand to not only rev up China’s economy, but will be a welcome boost to the global economy as well. The government will also further develop the service industry and protect consumers’ interests.
Here’s what else is on tap in terms of policy action: Industrial upgrading, infrastructure spending, boosting E-commerce and energy-saving projects are also on the to-do-list.
Chairman of the China’s top economic planning agency, NDRC, Xu Shaoshi says, in the first half of 2013, China’s economy performed better than expected with a moderate and controllable inflation level, and a generally stable job market. Carrying that into the second half of the year will be essential.