Beijing – The report said that despite multiple unfavorable factors, China’s macro economy remained stable in the first two months.
In its monthly report, the National Development and Strategy Institute of Renmin University of China stated that the economy performed well during the period from January to February, suffered from global setbacks, multilateralism frustration and global financial market volatility.
According to the report, the structural reform of the supply side has been promoted and the quality growth has been promoted.
A series of indicators released by the National Bureau of Statistics from industrial output to retail sales show that the economy has started to grow steadily this year and the new growth momentum continues to grow strongly. Moderate inflation also guarantees room for policy manoeuvre.
However, the report said that structural problems still exist and that economic transformation will bring more and more pain, adding that more measures should be taken to deepen reforms and strengthen the private sector.
According to the report, private sector development directly determines economic performance and adds that reforms addressing the deep-rooted problems facing private companies will increase business confidence.
