CRI听力:China's GDP Grows 7.4 Percent

The data released by the NBS shows growth in the second quarter stands at 7.5 percent, picking up slightly from the 7.4 percent expansion in the first quarter.

Sheng Laiyun, the NBS spokesman, says the data shows the Chinese economy is enjoying stable and moderate growth.

"About the economic performance in the first half of this year, the general situation has been steady. Structural adjustments achieved stable progress, and the transformation and upgrading of the economy has sound momentum."

Sheng also highlights the encouraging job data, noting that over 7 million new positions have been created in the first six months.

In terms of economic structure, the growth of the tertiary sector has outperformed the primary and secondary industries.

The added value of the tertiary industry accounts for 46.6 percent of GDP.

That is 1.3 percentage points higher than the same period last year.

In this year's work report, the government has said it will maintain an appropriate level of economic growth while improving the quality of GDP and upgrading economic structure.

The report also highlights domestic consumption as the engine of the economy.

The latest economic data shows that consumption contributed 52.4 percent of GDP in the first half, 0.2 percentage points higher than the same period last year.

Sheng says the growth in domestic demand has been boosted by a rise in income.

Per capita disposable income exceeded 10-thousand yuan, an 8.3 percent increase even with inflation factored in, and a number that exceeds GDP growth.

Meanwhile, fixed asset investment, a mainstay of the Chinese economy, climbed 17.3 percent compared with a year earlier.

However, the NBS spokesman warns that the country's economy still faces challenges in a complicated economic environment.

"We can't be over-optimistic about our economy. The economic situation remains very complicated, we will still feel the pain of adjusting our traditional industries for a long time and we still face the pressure of an economic slowdown."

Sheng says China will continue to deepen reform and adjust economic structures to consolidate growth momentum.

China has set a targeted growth of 7.5 percent for 2014.

For CRI, I'm Min Rui.