China's economy plays an important role of anchor and source of strength: FM

(ECNS) -- Despite the rising instability and uncertainty in the global economy, China’s economy withstood the pressure and played an important role as an anchor and source of strength, Chinese Foreign Ministry spokesperson Lin Jian said at a regular press conference on Tuesday.

In the first half of this year, macro indicators of China’s economy generally maintained the momentum of steady growth. China’s GDP expanded 5 percent year-on-year and surpassed 60 trillion yuan (about $8.25 trillion). The secondary industry and tertiary industry grew 5.8 and 4.6 percent year-on-year respectively, contributing 43.6 and 52.6 percent respectively to economic growth.

In terms of the “troika” growth drivers, the contribution of the final consumption expenditure to growth was 60.5 percent, that of the gross capital formation 25.6 percent and that of the net exports of goods and services 13.9 percent. The total value of imports and exports of goods was 21.2 trillion yuan, setting a new record compared with the same periods of previous years. The nationwide per capita disposable income of households registered a real growth of 5.3 percent year-on-year.

Through steady efforts, the Chinese economy achieved both expanded output and better quality in the first half of this year, Lin said, adding that this has laid solid ground for  hitting China’s growth target for the whole year.

“Our economy continues to benefit from a solid foundation, strong resilience, enormous potential and robust driving forces. The long-term trajectory of our economy remains steady and sound, the momentum of high-quality development remains strong, and our commitment to high-standard opening up remains as solid as ever,” the spokesperson said.

“With the reassuring performance in the first half of this year and the sustained dynamism generated by deeper reforms on various fronts for high-quality development, we have the determination, capability and conditions to effectively upgrade the growth quality and achieve reasonable expansion of the size of our economy. We have full confidence in the future of China’s economy,” he concluded.