The country’s macro economy is shown to be developing in a stable manner. The country’s GDP, for example, has kept a growth rate between 6.7% and 6.9% for 11 consecutive quarters. As a result of deepening structural reform, The utilization rate of industrial capacity by enterprises above designated size reached 76.5% in the first quarter of 2018, 0.7% higher than the previous year. In addition, the unemployment rate in urban areas dropped by 0.1% to 4.8% on both a yearly and monthly basis.
By mid-March, the number of market entities in China had exceeded 100 million, over 31 million of which were enterprises.
From January to April of this year, the total profit of enterprises above designated size increased by 15 percent, thanks to a series of beneficial tax policies which have lowered the cost of real economy and injected more energy to push forward the transformation and upgrading of the country’s economy.
China’s economy fundamentals have stayed positive thanks to resilience and having enough room to maneuver, said Du Feilun, director of the situation analysis department at the Macro Economic Research Institute under the National Development and Reform Commission of China.
With solid foundations and enormous potential for sustainable development, China’s economy will continue to rise amid dynamic and balanced development.
This article was originally published in en.huanqiu.com
