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China's economic performance has been generally stable with better momentum, which would stay unchanged during the rest of the year, NBS spokesperson Mao Shengyong told a press conference.

China's government has proven to be highly successful and responsible in carrying out these core obligations.

China's fiscal deficit increased from 2.18 trillion yuan in 2016 to 2.76 trillion yuan in 2019. This year, it was raised to 3.76 trillion yuan to mitigate the negative effects of the COVID-19 pandemic. The fiscal deficit ratio has risen to 3.6 percent of GDP this year, the highest level since the founding of the People's Republic of China in 1949, according to the ministry.

China's new "dual-circulation" development pattern does not mean seclusion, but rather is aimed at a higher-level of opening-up with better utilization of the country's comparative advantages related to international value chains, regional developments and the domestic market, a senior economist said.

China's debt-to-GDP ratio of the real economy rose to 266.4 percent by the end of June, up 21 percentage points from the end of last year, according to the NIFD.