China's economy continues to show resilience in the first half of 2024 as the government shifts its focus from property-driven growth to new high-tech industries, including electric vehicles and renewable energy, called "new quality productive forces," Jeremy Zook, lead sovereign analyst for China at Fitch Ratings, tells CGTN's Guan Xin.

He adds that China is making significant strides in these new sectors and  the medium-term outlook hinges on the ability of these industries to offset the decline in property sector growth and counter demographic headwinds. Zook expects the government to provide fiscal support during this transition, ensuring stability and steady progress.