China’s economic performance and prospects for the first half of 2009

Economic Analysis Team, Division of Economics, the Chinese Academy of Social Sciences
Abstract:
China’s economic downturn has been brought under control with a series of stimulus policies, and the economy is in a
critical period of stable recovery. In the first half of this year, its GDP growth reached 7.1%, and is expected to rise in
the second half of the year. Overall, the annual growth rate for this year may exceed the goal of 8%.
Maintaining growth remains a top priority of the next stage of macro-regulation, and China must steadfastly
implement a proactive fiscal policy and moderately relaxed monetary policy. In maintaining growth and expanding
domestic consumption, China should be patient, follow the laws of economic development, and properly balance
the urgent economic growth priorities with long-term sustainable development. Macro-regulation should highlight
transformation of growth pattern, strategic restructuring and improvement of economic efficiency. We should
implement the policies that have been already issued, and make policy preparations against emerging domestic and
international situations and problems.
Key words:
China’s export, hybrid-units IO model, energy consumption, pollution

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