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China's economic growth held steady in the first half of 2019 despite headwinds, as positive factors are increasing to support high-quality development, the country's top economic regulator said on Tuesday.
China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development. This is a pivotal stage for transforming our growth model, improving our economic structure, and fostering new drivers of growth. It is imperative that we develop a modernized economy. This is both an urgent requirement for getting us smoothly through this critical transition and a strategic goal for China's development. We must put quality first and give priority to performance. We should pursue supply-side structural reform as our main task, and work hard for better quality, higher efficiency, and more robust drivers of economic growth through reform. We need to raise total factor productivity and accelerate the building of an industrial system that promotes coordinated development of the real economy with technological innovation, modern finance, and human resources. We should endeavor to develop an economy with more effective market mechanisms, dynamic micro-entities, and sound macro-regulation. This will steadily strengthen the innovation capacity and competitiveness of China's economy.
China's outbound direct investment or ODI has been increasing since 2000 and it accelerated more quickly following the financial crisis in 2008. Between 2009 and 2014, the number of ODI activities per year rose from 38 to 113, according to research of Zero2IPO Group. In 2016, China's non-financial ODI soared 44.1 percent year-on-year to 0 billion, according to data from the Ministry of Commerce.
China's debt level stabilized in the second quarter, leaving more room for fiscal policies to boost economic growth in the remaining months of this year, according to research from a national think tank on Tuesday.
China's finance ministry will coordinate with other government departments to introduce a policy regime which supervises and evaluates the pilot program that will transfer shares of State-owned enterprises and financial institutions to the country's social security fund.
来源：资阳报