The performance of the Chinese economy in the first half of the year was steady and in line with expectations, Premier Li said.
During a meeting with business leaders, Premier Li said reform is the fundamental driver of China’s economic development.
Twenty-one provincial regions saw GDP growth exceeding the country’s 6.7 percent in the first half of 2016.
China collected 6.5 trillion yuan ($985 billion) in taxes in the first half of 2016, up 9.4 percent year on year, data from the State Administration of Taxation (SAT) showed on July 20.
China’s economy stabilized in the second quarter as lending and consumer spending perked up in June, suggesting the world’s second-largest economy is responding to stepped up fiscal policy support.
The gathering momentum of new driving forces are causes for optimism on China’s economy in the first half of the year.
China’s economy grew slightly faster than expectations in the second quarter of 2016, stable from the first quarter and fueling hopes for a steady economic development.
An open and comprehensive system of fee and price listing will be fully implemented in China to regulate enterprise-related fees.
China’s expanded business activity in the service sector in June shows the effect of restructuring as the economy moves away from reliance on manufacturing.
