July 15, 2022 - 11:00 AM 232 views
China's National Bureau of Statistics (NBS) issued a statement via Reuters after the publication of the June activity figures outlining their viewpoint on the economy.
· The economic effects of the COVID outbreak have not yet been fully mitigated.
· The economic foundation for a sustained recovery is unstable.
· Risks of stagflation are rising on a worldwide scale.
· China is dealing with both a supply shock and a decline in demand.
· China's economy is experiencing structural and cyclical problems.
· Expect a steady stabilisation and recovery of the Chinese economy.
· Hard-won economic growth of 0.4% in Q2.
· To stabilise the economy in the face of external uncertainty, effort is required.
· Young people are still under a lot of employment-related pressure.
· Because of the moderate policy stimulus, consumer inflation is lower than in other large economies.
· China's consumer pricing increases should continue to be moderate.
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