CRI听力:China's Economic Growth Stabilizing at a Slow Pace

Zhang Ping, director of the National Development and Reform Commission, delivered a report to national lawmakers on the country's economic and social development in the first half of this year.

He said the government's policies and measures have been effective and the country's economic growth is stabilizing at a slow pace.

This is a result of improving supply-demand relations and dropping prices for some bulk commodities in the international market.

"When overseas demand sees a remarkable drop, China has maintained a stabilized economic growth and optimized economic structure by means such as strengthening economic control, especially over entity economy, boosting domestic demand, and so on, which brought more tangible benefits for the people."

However, Zhang said China's economic and social development are still facing a complicated environment, adding that uncertain factors may create new setbacks, thus continuing the economic difficulties.

"To look at the international market, the world economy is still under pressures of the global financial crisis. Uncertainties are increasing. As to the domestic market, long-existed imbalance and the current downward economic pressures have created setbacks for a steady economic growth."

On the other hand, the director said, China's economic fundamentals are in good shape, since domestic demand has great potential and plenty of room remains for the government's macroeconomic control policies.

"In the second half year, China will focus on accelerating the transformation of the economic growth mode, and boost the economic growth in a steady pace. Through encouraging domestic demand and developing entity economy under innovative reform ideas, the Chinese government is dedicated to improving people's life and solving difficulties in economic and social development."

According to Zhang, the government's public revenues in the first seven months amounted to nearly 7.5 trillion yuan, an 11.6 percent increase year on year.

China's GDP for the first half saw a 7.8-percent year-on-year increase.

For CRI, I'm Wang Lei.