Analysts 'cautiously optimistic' about China's economy in H2

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By CGTN’s Yan Yunli & Cyrus lp

The Political Bureau of the Communist Party of China Central Committee said that China will continue to seek progress while maintaining economic stability in the second half of 2017.

The meeting affirmed China's strong economic performance in the first half of this year that saw 6.9 percent growth.

Leaders called for better handling of the relationship between stability and economic progress during the second half of this year.

"Stability is the priority. That's to push forward supply side reform. Better handling of unstable factors such as finance and property sector is important,” said Zhang Yansheng, chief research fellow of China Center for International Economic Exchanges.

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Analysts' forecast for the economy in the second half of this year is “cautiously optimistic.”

Economic transformation is at a critical stage but will benefit from the ongoing global economic recovery.

"We see that the economic environment is relatively good in China and globally, and a global economic recovery is important for China,” said Zhang Shiyuan, lead analyst of Southwest Securities.

Zhang also suggested that internal investment and consumption could be a main driving force of the economy.

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Meanwhile, Lu Wentao, fund manager of New China Fund Management, expects the government to further invest in some new industries, such as electronics and chemical materials.

"We foresee that more foreign companies in those industries will move their productions to China. There are certainly more opportunities in this area," said Lu.