An employee works on the production line in a glass-making factory in Hengyang city, Hunan province on Jan 28, 2023. [Photo/Xinhua]

A meeting of the top authorities on Monday pointed out that China's economy continues to recover, high-quality development has made steady advancement, industrial upgrading has achieved progress, and food and energy security has been effectively guaranteed.

In the first half of the year, China's GDP grew by 5.5 percent year-on-year, significantly faster than the 3 percent growth for last year and the 4.5 percent average annual growth rate in the three years of the pandemic. The contribution of final consumption expenditure to economic growth has reached 77.2 percent, higher than last year, and the added value of the service sector accounted for 56 percent of GDP, contributing 66.1 percent to economic growth. All this proves that China's economy has great resilience and potential.

All parties should work harder to fully implement the spirit of the top-level meeting, consolidate the foundation of economic recovery, and promote a sustained economic turnaround.

However, in the face of the complex and severe environment at home and abroad, it is not easy for China to achieve this. After the pandemic, China's economic recovery has seen a zigzag pattern. The global economy is under considerable downward pressure with many destabilizing and uncertain factors still existing. At home, domestic demand remains insufficient, some enterprises are facing headwinds, and risks and hidden dangers still exist.

Therefore, the top-level meeting rolled out a series of policy arrangements aimed at expanding domestic demand, boosting confidence, enhancing the endogenous driving force of the economy, improving social expectations, defusing risks, and expanding reform and opening-up to promote a rise of both quantity and quality of the economy.

China has a complete industrial system, rich human resources, a convenient hardware and software infrastructure network, ever-enhancing security guarantees for its food, energy resources, and industry and supply chains.

It is also the consumer market with the greatest potentials worldwide. Its investment demand in public services and infrastructure remains vigorous, and the coordinated development between urban and rural areas and between regions is unleashing a huge market space.

As policy measures rolled out by the authorities are implemented, the country is on a solid footing to promote better economic development and realize economic and social development goals set for the year.

XINHUA NEWS AGENCY