Official: China to optimize policy environment for economic recovery
A night view of downtown Guangzhou, Guangdong Province, China, July 23, 2022. /CFP

A night view of downtown Guangzhou, Guangdong Province, China, July 23, 2022. /CFP

China will continue to optimize the country's policy environment for it to remain conducive for economic recovery, a senior official with the country's top economic planner said on Tuesday.

"At present, there are still some prominent contradictions and problems in China's economic operation," Yuan Da, director of the department of national economy of the National Development and Reform Commission, told a press conference.

He added that the quick recovery during the past seven months shows the economy's strong resilience and huge potential.

Official data released on Monday indicated that the world's second largest economy continued to recover in July, but the recovery trend needs to be consolidated.

The government will further prioritize keeping economic growth stable with more proactive efforts in expanding demand, according to Yuan.

Related macro policies should be effective and reasonable while avoiding having an advance on future economic growth, he said.

Efforts will be made to accelerate the implementation of existing policies, strengthen researches on policy reserves and promptly introduce and implement them in light of the situation, Yuan added.

Yuan also said China will strengthen the implementation of employment stabilization policies, after official data on Monday showed China's youth unemployment rate reached a record 19.9 percent in July.

China will roll out policies to support college graduates' entrepreneurship and employment, said Yuan.

(With input from Xinhua)

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