BEIJING, Oct 18(ABC): China’s economic development is expected to gain new strong impetus from the 20th National Congress of the Communist Party of China (CPC). The Chinese economy has posted a notable recovery in the third quarter of this year, Zhao Chenxin, deputy director of the National Development and Reform Commission, told a press conference on the sidelines of the ongoing congress. Following a 4.8-percent growth in Q1, China’s GDP edged up 0.4 percent in Q2 due to the impact of negative factors like COVID-19 outbreaks.
“China’s economic performance has seen fluctuations this year, but logged a continuous trend of recovery in general,” Zhao said, adding that the country’s major economic indicators like consumption have been on the rebound curve thanks to a slew of supportive policies. Zhao pointed out that China’s economic performance has stood out globally, citing the country’s mild inflation, generally stable employment and huge foreign exchange reserves. “The Chinese economy is facing some challenges, but more importantly, it’s brimming with opportunities.”
