The National Bureau of Statistics said China’s economy was broadly stable in Jan–Jul but faces a complex external environment, a pronounced supply-strong/demand-weak imbalance and operating difficulties at some firms, leaving the foundation for steady improvement needing consolidation. For the next phase it called for accelerating the shift from old to new growth drivers, intensifying countercyclical policy, expanding domestic demand, optimizing supply, and safeguarding and improving livelihoods

The National Bureau of Statistics said China’s economy was broadly stable in Jan–Jul but faces a complex external environment, a pronounced supply-strong/demand-weak imbalance and operating difficulties at some firms, leaving the foundation for steady improvement needing consolidation. For the next phase it called for accelerating the shift from old to new growth drivers, intensifying countercyclical policy, expanding domestic demand, optimizing supply, and safeguarding and improving livelihoods to boost development momentum and social vitality.