China seeks policy mix to boost economic resilience

Aware of the challenges at home and abroad, China has been seeking a policy mix featuring diversified monetary tools, fiscal support and a firm commitment to opening-up to keep the economy running within an appropriate range.

Owing to a low comparison base and consolidating recovery, China's economy expanded 12.7 percent year on year in the first half of 2021, but the evolving COVID-19 pandemic and unbalanced domestic rebound still call for more attention on downward pressures.

Noting the headwinds in a key meeting last week, the Political Bureau of the Communist Party of China (CPC) Central Committee stressed the need to maintain consistent, stable and sustainable macro policies, and sound coordination to mesh this year's policies with those for 2022.

The meeting emphasized "cross-cyclical adjustment" in macro-economic policies, a term analysts interpreted as a focus on boosting economic resilience in the short term while allowing policy leeway for future uncertainties.

The CPC leadership meeting reiterated China's commitment to high-level opening-up and the high-quality development of the Belt and Road Initiative.

Produced by Xinhua Global Service