|Beijing to ensure steady growth
China will work to ensure quality and steady economic growth in the second half of 2013 by boosting demand, industrial upgrading and reforms, according to a government report.
According to the State Council's report on the implementation of China's economic and social development plan, to improve the quality and efficiency of the country's economic development will remain a "central task" in the second half of the year, Xinhua reports.
The report, submitted to the ongoing bimonthly session of the National People's Congress Standing Committee for deliberation, said the country will maintain the consistency and stability of its macroeconomic policies and continue to implement a proactive fiscal policy and a prudent monetary policy.
China's economic growth, which was boosted by strong domestic demand in the first six months of the year, was higher than expected, said Xu Shaoshi, who delivered the report on behalf of the State Council on Wednesday. Xu is head of the National Development and Reform Commission, China's top economic planner.
In the first six months, the country's economic growth hit 7.6 percent, higher than the 7.5 percent target, he said.
Meanwhile, China saw a "moderate and controllable" rise in the consumer price index (CPI), a main gauge of inflation, and the job market was "generally stable," he said.
Xu admitted that China faces "a grave situation" to ensure steady economic growth.
Externally, the country's growth is not only hampered by the sluggish recovery of the global economy, but challenged by mounting trade and investment protectionism against China, according to the official.
Authorities from 15 countries and regions launched 39 investigations on Chinese products in the first half of 2013, according to the report.
To offset the impact of shrinking global demand, China will continue to encourage its more than 1.3 billion consumers to spend, the report says.
The National People's Congress (NPC) is China's top legislature. The NPC Standing Committee session opened on Monday and will end on Friday.