More policy options in H2 to spur growth

Major foreign financial institutions revise upward full-year projections

Despite persistent global headwinds, recent economic data from China have demonstrated resilience in the first half of this year, coupled with a potential de-escalation of tensions between Beijing and Washington, prompting major foreign financial institutions to revise upward their full-year growth projections.

As the economy faces external uncertainties and a high base effect from the previous year, experts said additional fiscal and monetary policies will be needed in the second half of the year to achieve the annual growth target of around 5 percent.

The consumer price index, according to the National Bureau of Statistics on Wednesday, rose 0.1 percent in June from a year earlier — a turnaround from the previous four months' decline, as the country's consumption-boosting initiatives are translating into greater consumer confidence and spending.