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China's economic recovery to continue in H2

Updated: Jul 16,2020 16:00    Xinhua

BEIJING — China's economy has sufficient support to sustain its recovery in the second half (H2) of 2020, a spokesperson with the National Bureau of Statistics (NBS) said on July 16.

"The country's steady economic recovery in the first half (H1) of the year has laid a solid foundation for its H2 momentum," NBS spokesperson Liu Aihua told a press conference, citing rebounds of multiple key economic indicators in H1 and the second quarter.

The impact of the COVID-19 epidemic was overall controllable and China's economy showed strong self-adjusting capabilities, said Liu, adding that the country's advantages in the industrial system, infrastructure and market will continue to cushion the impact.

Many new industries and business models boosted during the epidemic will continue to offer strong support for the rebound in H2, and the effect of macro policies will be more apparent, Liu noted.

"We are confident that the Chinese economy will continue to recover in H2," said Liu, adding that China has the foundation, potential and condition to achieve such a goal.

Liu, however, admitted that amid the hardships in restarting world economic and trade activities due to the global spread of COVID-19, China also faces constraints in domestic demand recovery and pressure in stabilizing enterprises and ensuring employment.