Experts call for new incremental policies to boost domestic demand

China should reinforce its commitment to boosting domestic demand with new incremental policies in the second half, in a bid to solidify the recovery trend seen in the first six months, leading economists said on Wednesday.

As the country is navigating a more complex global environment, they urged policymakers to double down on both fiscal and monetary policy support and further deepen reforms to boost market confidence and expectations.

Huang Hanquan, head of the Chinese Academy of Macroeconomic Research, said that the government must capitalize on the current window of opportunity where the economy and social expectations are relatively stable, to prepare reserves of a batch of incremental policies to ensure sustained growth for the remainder of the year.