Ten measures of the Political Bureau promote steady economic development

The Political Bureau of the CPC Central Committee convened a meeting on July 30 to review the economic performance in the first half of the year and outline key priorities for the second half. The meeting acknowledged that China's economy has experienced two consecutive quarters of slower growth, yet emphasized that leadership remains confident in the long-term stability and positive trajectory of the economy. It highlighted that the overall trend for the remainder of the year will remain stable, with a focus on implementing ten strategic measures aimed at ensuring the successful completion of the annual economic and social development goals. During the meeting, it was noted that the main economic indicators for the first half of the year remained within the expected range, reflecting a solid start to the year’s development. This aligns with the recent stance from the State Council regarding the economic outlook. It also signals that the central government will not pursue large-scale stimulus measures, but instead will focus on targeted support for specific industries, promote information consumption, and provide more focused assistance to small and micro enterprises. In the second half of the year, economic policies should maintain a steady and progressive approach, emphasizing quality and efficiency in growth. The continuity and stability of macroeconomic policies must be upheld, while ensuring greater precision and coordination. Adjustments should be made promptly based on evolving economic conditions to ensure a stable and promising outlook. Efforts should be made to stabilize growth, optimize industrial structures, advance reforms, expand effective demand, drive technological upgrades, deepen opening-up, and improve people's livelihoods, all in support of achieving the year’s core economic and social targets. This year’s first-half GDP growth reached 7.6%, indicating that the annual target is still within reach. To achieve this, the second half of the year should aim for a GDP growth rate of around 7.5%. In response, the meeting outlined ten key initiatives, including maintaining an active fiscal policy and a prudent monetary approach, revitalizing stock markets, optimizing investment, improving the efficiency of public funds, increasing financial support for the real economy, and directing resources toward innovation and high-quality development. Additionally, efforts should be made to boost consumer demand, encourage household consumption upgrades, sustain reasonable investment levels, promote people-centered urbanization, and ensure the real estate market remains stable and healthy.

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