Govt claims China's economic growth signals stability
China has claimed that several economic indicators in January and February went up, and most of the economic indicators in March showed a good trend, meaning the development trend of economic operation has changed. Judging from this condition, China's economic growth will maintain general stability, the government said on its official website.
China's GDP in the first quarter increased 6.7 per cent year-on-year which was 0.1 per cent lower than in the fourth quarter of 2015.
“The generally stable trend of economic growth is the reflection of macroeconomic policies implemented since 2012. First, the government made efforts to guarantee people's basic living. Employment and poverty alleviation are two key sectors the government attached great importance to.
“Second is to maintain steady investment. The key is in infrastructure construction. Projects increased as the category includes construction such as new type of urbanization, Belt and Road strategic deployment, public service facilities and comprehensive transportation system,” the government said.
It claimed that the stable trend of economic growth also shows that the long-term development trend of Chinese economy remains good. As urbanization is being promoted, the condition of real estate sales is also getting better.
China's permanent resident population in cities and towns increased 22 million, which promoted the housing demand in cities. With the adjustment of real estate policies and mortgage loan policies, real estate sales went up. This then solved the prominent problem restricting real estate enterprises - difficulty in selling real estate and capital turnover.
“Surely we need to notice that the foundation for a stable economic growth is not solid. There are still many uncertainties. We still need to promote supply-side reform and make sure policies are being implemented,” the government said. (SH)
Fibre2Fashion News Desk – India