China’s economy is to see a continued slowdown and the government will implement more economic stimulus in the future.
China’s GDP expanded at 7.6 percent in the second quarter of 2012, the first time that the world’s second largest economy’s growth has fallen below the 8-percent mark since the fourth quarter of 2009.
To boost the currently fatigued economy, China’s top leaders reaffirmed that they will underline stable economic growth and adhere to a proactive fiscal policy and prudent monetary policy to counter the current economic hardships.
The ongoing pace of economic growth is within expectations, but the external environment remains grim and poses difficulties and challenges, according to a newsletter released after a meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee that was presided over by President Hu Jintao on Tuesday.
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