Economic policy remains on course despite headwinds

Although policymakers are set to fine-tune it to cope with the headwinds being encountered both at home and abroad, China's basic economic policy stance is to remain largely unchanged.

According to the statement issued after the meeting of the Political Bureau of the Communist Party of China Central Committee on Tuesday, in the second half of this year, the country will seek to "maintain a stable economic and social situation" and adhere to the basic principle of "seeking progress while maintaining stability".

The statement said the country will continue to adopt a pro-active fiscal policy and a prudent monetary policy with the aim of maintaining stable and healthy economic development. From this, it is clear that the macroeconomic regulatory stance remains fundamentally unchanged.