After two years of uncertainty and volatility, China’s economy is for now in a sweet spot. Its foreign exchange reserves have been expanding in the past six months, hitting a whopping $3.6 trillion. The economy grew by 6.9 per cent in the first half of this year and the yuan has been rising steadily against the US dollar. Financial outflows have slowed. A combination of improved trade and economic performance, and measures to control capital outflows have meant money and investment are moving back into China. It is said by some critics that the country’s economic policymakers have won a battle.
JUMORE Reviews
In recent two years, China has taken a series of steps to strengthen the real economy and accelerate the transition from traditional growth momentum to new one for maintaining a stable and healthy economic development. This kind of economic growth driven by endogenous factors has caused a well control of capital outflows and attracted steady inflow of foreign capital, imparting the Chinese economy with an steady stream of power for its sustainable growth.
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