Gelonghui, July 23 | According to the China Securities News, the Institute of Finance of the Chinese Academy of Social Sciences held a press conference on “China's Macrofinancial Analysis” for the second quarter of 2023 on July 23. According to the “Report”, current monetary and credit indicators are generally weak. China is in a downward phase of the financial cycle. Moderate central financial expansion and active risk mitigation by the government will help strengthen economic resilience. Looking ahead to the second half of the year, the Report notes:

In terms of consumption, the zero year-on-year growth rate of society is expected to pick up in the second half of the year, with the combined support of the recovery in consumer spending intentions, the consumer goods trade-in policy, and the low base effect.

In terms of investment, as the transformation and upgrading of traditional industries continues to advance and the advanced manufacturing industry accelerates development, investment in manufacturing is expected to maintain a relatively rapid growth rate. Macroeconomic policies must continue to be strengthened, and joint efforts must be formed to actively expand domestic demand.

Promote reforms in key areas such as finance, taxation, and finance in an integrated manner to comprehensively deepen reforms to break through institutional blockages, further liberate and develop social productivity, and stimulate and enhance social vitality.