CHINA STATE PLANNER said China’s role as an anchor of global economic stability
has further strengthened. 1H GDP rose 4.7% YoY, one of the strongest rates among
major economies, adding 3.6 trillion yuan. The IMF and World Bank recently
trimmed global growth forecasts while raising China’s growth forecast by 0.2
percentage point. Activity dipped in April from external shocks but recovered in
May–June, with supply and demand indicators improving. Urban surveyed
unemployment averaged 5.2% in 1H and urban new employment totaled 6.95 mln,
consistent with the annual target.
