The National Committee of the Chinese People's Political Consultative Conference (CPPCC) held a symposium on July 15 to analyze China's macro-economic situation in the second quarter of this year.

The National Committee of the Chinese People's Political Consultative Conference (CPPCC) held a symposium on July 15 to analyze China's macro-economic situation in the second quarter of this year. [Photo/cppcc.gov.cn]

Vice-chairman of the CPPCC National Committee Gu Shengzu attended the meeting and delivered a speech.

At the meeting, officials from the National Bureau of Statistics introduced the country's economic growth while the All-China Federation of Industry and Commerce briefed the performance of private enterprises. The National Development and Reform Commission provided a written presentation.

Members of the CPPCC National Committee and experts shared their ideas on economic prospects, offering suggestions for stable economic growth. It was generally agreed at the meeting that the national economy witnessed the consolidated and improved growth momentum while maintaining stable performance in the first half of the year though facing with a complicated and changing environment both at home and abroad.

CPPCC members suggested that in the context of the still-raging global COVID-19 pandemic and external uncertainties, China should continue opening-up and develop monetary policy in anticipation of a possible slower domestic economic growth and a possible hike in the US Federal Reserve's interest rate in the second half.

They called for increasing supportive debt restructuring packages for enterprises and greater reliance on the market to curb debt evasion. On the path to peak carbon emissions and achieve carbon neutrality, it's necessary to ensure orderly progress in preventing and addressing financial risks and acceleration of formation of a clean, low-carbon, safe and highly efficient modern energy system.