“China will keep its economic growth within a reasonable range in the second half of the year, and will ensure that its full-year growth target is achieved,” China’s state planner said on Wednesday.
Although the trade frictions with the United States will have a negative impact on the Chinese economy, China will ensure that its annual growth target will be met, said Cong Liang, spokesman of the National Development and Reform Commission (NDRC).
China aims to expand its economy by around 6.5 percent this year. The growing rate of the gross domestic product in the second quarter was 6.7 percent, smaller than that in the first three months which was 6.8 percent.
The figures obviously manifest a slowdown of economy increase as an ongoing campaign by Beijing is to curb risks in the financial system, for the borrowing costs have been raised and small companies find it hard to get loans.
To help firms get out of a tighter financing stress, China has taken steps to boost liquidity and has urged banks to extend more loans to companies. It has also affirmed pro-growth fiscal policies.
China and the United States, the world’s two biggest economies who both slow their economy growing pace, are imposing tariffs on each other’s goods, which will be more serious next week. And there are few signs that either side is ready to compromise. Tradedigits provides global import and export data, which has detailed information about China’s trade with world other major countries including USA. Click here to inquire more China-US trade details.