Official: China's economy running within a reasonable range

BEIJING — China has kept its economy operating within a reasonable range since the beginning of the year despite the grim global economy, said He Lifeng, head of the National Development and Reform Commission (NDRC).

He delivered a report on Aug 30 on the enforcement of the plan for national economic and social development at a session of the Standing Committee of the National People's Congress.

In the face of temporary and sudden shocks both at home and abroad, China's economy has managed to firm up within a short period of time, He said, noting that it proves that China's sound long-term economic fundamentals have not changed.

Regarding the second half of the year, He said China will effectively coordinate pandemic control with economic and social development, and will accelerate the implementation of the policies to stabilize economy.

He also stressed the importance of expanding domestic demand, expanding effective investment and facilitating the 102 major programs introduced in the 14th Five-Year Plan (2021-2025).

He called for efforts to deepen reform and opening-up and accelerate the establishment of a national unified market.

Efforts should be made to increase residents' incomes, ensure the wages of migrant workers are paid, and further broaden the channels for increasing farmers' incomes, He said.

While delivering a report on the implementation of the central government's 2022 budget so far this year, Minister of Finance Liu Kun called for efforts to implement the proactive fiscal policies and the combination of tax and fee cuts to help market entities, especially the smaller ones, regain vitality.

Efforts should go into strengthening financial support for major strategic tasks and putting in place the fiscal and tax policies that promote coordinated regional development, Liu added.

Source: Xinhua