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The International Monetary Fund (IMF) raised its forecasts for China's economic growth to 5 percent this year and 4.5 percent next year, according to its July 2024 World Economic Outlook (WEO) Update released on July 16.

In response to the slowdown in China's GDP growth rate in the second quarter, a spokesperson for the National Bureau of Statistics stated on July 15th that the overall scale of national economic indicators remains considerable and that the stable economic performance remains unchanged.

As domestic demand has been on a steady recovery track in the first half, experts said on July 15th they expect more proactive fiscal and monetary policies to advance the balanced allocation of financial resources, and further help prices recover.

China's economic "mid-year report" was unveiled on July 15. Alongside quantitative growth and qualitative improvement, China's economy has entered the second half of the year with overall stability and steady progress.

China's consumer price index, a main gauge of inflation, rose by 0.2 percent year-on-year in June, data from the National Bureau of Statistics showed on July 10.