SHANGHAI: An increasing number of positive signs were seen in the Chinese economy in the first quarter gross domestic product (GDP) report, finance minister Xiao Jie said in a meeting in Washington last week.
In a notice published on the Ministry of Finance’s website on Saturday, Xiao told a G20 summit meeting of the world’s top economies that China is making progress on supply-side structural reforms.
Over the past two years, Beijing has promoted supply-side reforms aimed at reducing excess industrial capacity and cutting its reliance on debt-driven growth policies.
China is confident of reaching the government’s 6.5 per cent GDP growth target this year, Xiao said.
The minister said the global economy still faces many risks and uncertainties, especially given the lack of clarity around the economic policies of some developed countries.
China’s economy grew faster than expected in the first quarter, hitting 6.9 per cent, as higher government infrastructure spending and a gravity-defying property boom helped boost industrial output by the most in over two years. -- REUTERS