Fiscal stance to balance growth, potential risks By ZHOU LANXU | CHINA DAILY | Updated: 2021-07-28 06:51 Share CLOSE
Growth of 8.5 percent expected for full year, flexible support to continue in second half
China is likely to ramp up fiscal support while keeping monetary policy stable over the rest of the year, with the country s full-year economic growth expected to reach 8.5 percent or more, economists said on Tuesday.
Any fiscal easing may be moderate, as policymakers are expected to strike a balance between spurring economic growth and containing financial risks. Policymakers may also want to keep some policy room for any unexpected downside risks amid persistent uncertainties, the economists said.
Industrial firms H1 profits up 67% By Cheng Yu | China Daily | Updated: 2021-07-28 08:59 Share CLOSE A technician works on the production line of an aluminum product manufacturer in Qinhuangdao, Hebei province. [CAO JIANXIONG/FOR CHINA DAILY]
First-half revenues of China s major industrial companies saw a steady recovery, yielding almost 67 percent year-on-year surge in their combined profit, but private enterprises and smaller firms still face big challenges in their attempts to grow their profits, officials and industry experts said on Tuesday.
Data from the National Bureau of Statistics showed that first-half profits of industrial firms with an annual business turnover of at least 20 million yuan ($3.09 million) totaled 4.22 trillion yuan, up 45.5 percent from the corresponding figure of 2019, the last pre-COVID level.
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Manufacturing to get a major boost Zhang Yue Updated: Jul 28,2021 09:46 AM Xinhua
China is rolling out new efforts to nurture a number of manufacturers that specialize in niche sectors and specific industries.
Such policy efforts will help enhance and stabilize the country s manufacturing and supply chain, contributing to both the Chinese and world economies in the post COVID-19 era, experts and industrial insiders said.
Earlier this month, six ministries including commerce, industry and information technology, and science and technology jointly issued a guideline on scaling up efforts in building the country s manufacturing sector.
China will strive to cultivate 10,000 small giant companies with high growth potential, advanced technologies and a strong market competitive edge before 2025, according to the guideline.
By Cheng Jie | CHINA DAILY | Updated: 2021-07-28 07:24 Share CLOSE As graduation nears, university students look at company profiles and available positions at a job fair in Nanjing, Jiangsu province, on May 16, 2021. YANG SUPING/FOR CHINA DAILY
China s economy achieved 12.7 percent growth in the first half of this year, increasing the chances of employment for young graduates. The industrial sector, and State-owned and large enterprises have recovered relatively well from the impacts of the novel coronavirus outbreak, but the service sector, and small and medium-sized enterprises face bigger challenges.
Fortunately, China s job market was relatively stable in the first half. National Bureau of Statistics data show about 6.98 million new jobs were created in the first six months of this year, fulfilling 63.5 percent of the goal for the whole year. In June, the surveyed urban unemployment rate was 5 percent, the same as