Multiple factors including application of proactive macroeconomic policies and implementation of major national strategies are poised to support stable operation of China's economy in the second half of the year, though there are still many risks and challenges, a spokesman for the National Bureau of Statistics said on Friday.
Speaking at a press conference in Beijing, Fu Linghui, the spokesman, said that in the second half of the year, there is ample support for boosting market demand, with recent initiatives aimed at boosting consumer spending yielding positive results, effectively unlocking greater consumer potential.
Meanwhile, despite facing high tariffs from certain countries, Chinese businesses are actively diversifying their markets. This strategy has led to an increase in both the quantity and quality of exports, showcasing the resilience of China's foreign trade.
Furthermore, new quality productive forces are emerging rapidly. The digital and intelligent transformation across multiple industries is accelerating, fostering growth in new sectors.
Between January and July, manufacturing in digital products and intelligent drones has shown robust expansion.
Additionally, widespread adoption of large AI models has significantly heightened demand for computing power, resulting in a notable increase in server production.
Reform and opening-up efforts have kept deepening. In the first half of the year, final consumption expenditure contributed 52 percent to economic growth, an increase of 7.5 percentage points over the entire previous year.
From January to July, China's total value of imports and exports grew by 3.5 percent year-on-year, with both cargo turnover and passenger turnover maintaining rapid growth.
"Since the beginning of this year, more proactive macroeconomic policies have been implemented at an accelerated pace. Driven by the implementation of major national strategies and enhancement of security capacity in key areas and of large-scale equipment renewal policies, the value added in the equipment manufacturing sector grew by 9.9 percent year-on-year from January to July," Fu said.
"Investment in water conservancy and electric power sectors also saw rapid growth in the first seven months. As their effects become apparent, the policies on expanding consumer demand in ensuring and improving the people's livelihood and on high-quality promotion of implementation of major national strategies and enhancement of security capacity in key areas will be conducive to promoting stable operation of the economy," he said.
Multiple factors exist for supporting stable operation of China's economy in second half of 2025: official
