The State Council’s report on this year’s economic and social plan was submitted for review at the NPC Standing Committee meeting in Beijing (Aug. 25-28). It shows 1H GDP rose 4.7% YoY, with an incremental output of 3.6 tln yuan — the largest same-period increase in five years. CHINA STATE PLANNER deputy director Wang Changlin said plan execution is overall good; growth, employment, prices and foreign trade are in line with expectations, while consumption, household income, fiscal/financial meas

The State Council’s report on this year’s economic and social plan was submitted for review at the NPC Standing Committee meeting in Beijing (Aug. 25-28). It shows 1H GDP rose 4.7% YoY, with an incremental output of 3.6 tln yuan — the largest same-period increase in five years. CHINA STATE PLANNER deputy director Wang Changlin said plan execution is overall good; growth, employment, prices and foreign trade are in line with expectations, while consumption, household income, fiscal/financial measures, social security, environment work and grain output have advanced. The report warned geopolitical conflicts are increasingly spilling over to China’s economy, domestic activity is increasingly bifurcated, insufficient effective demand is weighing on economic circulation, more firms in some sectors are facing operational difficulties, risk resolution in key areas remains onerous, and employment and livelihood support need strengthening.