NDRC says nation will consolidate recovery trend

China is set to take further actions, including speeding up the issuance of local government special bonds and expediting the promotion of large-scale equipment renewal and trade-in deals for consumer goods, as it seeks to consolidate the recovery trend, the country's top economic regulator said on Tuesday.

Analysts said the country is scrambling to tackle issues related to the still-weak domestic demand and property industry woes with further stimulus measures in the offing, which will significantly stabilize expectations and restore confidence in the world's second-largest economy.

Li Chao, a spokeswoman for the National Development and Reform Commission, emphasized the country's commitment to sustaining the recovery and optimizing the structure of the manufacturing sector. More efforts will be made to foster new quality productive forces, boost high-quality development of the manufacturing sector, expand effective investment and spur consumption, she said.