Stable and healthy growth

Policymakers have become more pragmatic as they deal with the challenge of keeping the Chinese economy stable and healthy at a time of slowing growth.

Such a mentality is visible in their refusal to launch large-scale stimulus measures, as urged by the financial markets after China's GDP growth fell to 7.5 percent year-on-year in the second quarter.

It is also clearly reflected in the official comments released after a political bureau meeting chaired by President Xi Jinping on Tuesday, which reaffirmed the existing policy stances while allowing for policy fine-tuning at the right time.