China planner approved 91 fixed-asset investment projects worth total of CNY 700bn in H1

<p>Statement from an official of the National Development and Reform Commission of the People's Republic of China (NDRC),m the 'state planner':</p><ul><li>approved 91 fixed-asset investment projects worth total of CNY 700bn in H1</li><li>persistent economic recovery faces risks and challenges, including insufficient demand, sluggish momentum and weak confidence e</li></ul><ul><li>
Purchasing power and expectations of consumption still weak,
infrastructure and consumption environment should be improved</li></ul><ul><li>Will stabilise jobs,
in particular, improve youth employment, and boost income</li></ul><ul><li>There is space for further improvement in the infrastructure and consumption environment</li></ul><ul><li>China will draft policies to stimulate consumption and make great efforts to stabilize major purchases such as automobiles and electronics</li><li>China has the confidence, conditions and capability to reach the GDP growth target of around 5% for 2023, thanks to the manifestation of macroeconomic policies, the continuous improvement of the economic structure and new growth drivers</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.