Key meeting lays out long-term plan for economic work

Economic data

China's economy is facing new challenges which mainly arise from insufficient domestic demand, difficulties in the operation of some enterprises, risks and hidden dangers in key areas, as well as a grim and complex external environment.

The central government's judgment on the current economic situation is in line with objective reality, said Zhao Xijun, a finance professor at Renmin University of China. The country's recovery in the first quarter exceeded expectations, but the growth rate in the second quarter was slightly weaker and the degree of recovery in different areas was also somewhat unbalanced, reflecting "wave-like development and zigzag progress".

China's economic data in Q2 compared with figures in Q1 showed the country's economic growth momentum remains strong, said Jerome Haegeli, chief economist of Swiss Re Group.

China's domestic market is strong enough to maintain independence and avoid external shocks, he added.

The meeting focused on key issues in economic and social development to make a series of important arrangements and accelerate policy implementation, which is of great significance for promoting sustained economic improvement, said Li Chengjian, a researcher from the Development Research Center of the State Council.