China’s National Bureau of Statistics (NBS) acknowledged rising external uncertainties and operational difficulties for some enterprises, as the country navigates a complex global economic environment. In a press briefing, the NBS spokesperson described the external landscape as “very severe,” underscoring the need for increased domestic policy efforts.
To counter these challenges, authorities plan to expand domestic demand, boost consumption, and encourage a rebound in prices. Despite some turbulence, the employment situation remains generally stable. The spokesperson expressed optimism that the jobless rate will ease in the coming months, particularly as more college graduates enter the workforce.
The property sector, a key pillar of China’s economy, continues to face volatility. However, officials stated that it is gradually stabilizing and emphasized the need for further targeted support. Anti-involution policies—meant to curb excessive competition—have reportedly shown early positive effects on price stability.
Looking ahead, the NBS expects China’s economic performance in the third quarter to maintain a stable trajectory, supported by macroeconomic policies. Efforts to regulate overcapacity in key industries are also beginning to yield results. Overall, Beijing remains committed to stabilizing growth and employment amid ongoing economic headwinds.
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