National Development and Reform Commission: The H2 economy will maintain a stable and positive trend under the H1 recovery

Yuan Da, Deputy Secretary-General of the National Development and Reform Commission and Director of the General Affairs Department said at a press conference on August 4 that since the beginning of this year, the National Development and Reform Commission and relevant departments have increased the implementation of macro policies, promoted the coordinated efforts of policies, and implement them in an orderly manner. The “three measures in a batch” clean government policy and “Combo punch” policy (advance formulating macro policy, expanding demand, implementing reform and innovation, and preventing and defusing risks simultaneously) effectively dealt with difficult challenges such as the increasing adverse impact of changes in the international environment and the intertwined and superimposed domestic periodic structural contradictions, which have promoted the continued and overall recovery of the national economy. According to the latest data on economic operation, the growth rate of the indicator of physical output has accelerated. In July, the national unified power generation increased by 5.9% year-on-year, an increase of 1.5 percentage points from the previous month. Market expectations have also improved, and the manufacturing PMI has picked up for two consecutive months. As the effects of the “Combo punch” policy show, the economy will maintain a stable and positive trend in the second half of 2023 based on continuous recovery in the first half year.