Robust policies, reforms key to strong economy

The expression "consolidating the foundation and boosting vitality" has been attracting market attention recently, after Chinese authorities said during a news conference that the country will stabilize economic growth in such a manner.

First-half data may provide deeper insight. First, the 5 percent economic growth was achieved during a period of transitioning between old and new growth drivers. Both Japan and the United States experienced economic and financial crises due to real estate market adjustments.

China, maintaining its strategic focus on high-quality development, has in recent years actively fostered new growth drivers through technological innovation, green development and digital transformation, striving to reduce reliance on real estate-driven growth.