Chinese State Media: "Q2 Bottomed Out... Strong Momentum Expected in H2"

Amid growing concerns over a slowdown in the Chinese economy, local state-run media have projected that the second quarter will mark the bottom of the economic trend.

On the 18th, China's state-run Global Times cited diagnoses from local economists and analysts, reporting that "although the economy is facing difficulties, the overall outlook remains positive," and that "there is a high likelihood of achieving the target growth rate (around 5%)."

[Image source=EPA Yonhap News]

Zhou Maohua, a macro research fellow at Guangda Bank's Financial Markets, told the state-run Global Times (GT), "Considering the pace of economic recovery, the second quarter could be the bottom of the economic trend, and stronger momentum is expected in the second half of the year." Zhou further noted, "Taking into account the lag time for pro-growth policies to take effect, there is a possibility of sustained recovery in consumer spending," and predicted, "Domestic macroeconomic policies will be moderately strengthened."

Wan Zhe, a professor at Beijing Normal University, told Global Times, "The Chinese government is calmly recognizing the difficulties, sharply understanding the situation, and responding swiftly," adding, "The Chinese economy will gain opportunities when it rises to meet challenges."

Chen Jia, an international strategy analyst, emphasized to GT, "Foreign media have long ignored the policies and development potential of emerging strategic industries nurtured by the Chinese government through years of effort," and stressed, "When economic drivers such as next-generation artificial intelligence reveal their potential, they will provide momentum for consumption growth." Chen added, "China's macroeconomic policy tools are completely different from those of Western countries, and Western media do not understand them."

On the same day, the National Development and Reform Commission (NDRC) assessed that the Chinese economy had a good start in the first quarter and continued its recovery in the second quarter. An NDRC official acknowledged at a press conference that "the complex global political and economic situation makes the foundation for recovery and development uncertain," but explained that "overall economic improvement drivers are accumulating."

This content was produced with the assistance of AI translation services.