By XIN Yuan
China's economy is expected to grow faster in Q2 than in Q1, ZHANG Yuzhuo, director of the State Council assets supervision commission, told the Summer Davos Forum on Tuesday.
As China faces an array of challenges and opportunities, Zhang highlighted the economic outlook and the need for strategic measures in a rapidly evolving global landscape. However, Zhang cautioned that economic expansion faces significant hurdles and resistance, including uncertainties in foreign trade, sluggish consumer demand, and limited coverage of emerging industries.
Zhang is pleased with China's economic recovery this year, citing achievements in NEVs. Sales are up by 50 percent. More than half of the world's EVs are sold in China. Additionally, the growth of photovoltaic panels and wind power has contributed to economic resilience.
Looking ahead, Zhang noted that foreign trade growth had fallen short of expectations. Rising barriers impede trade. Weak coordination among major economies hinders global economic cooperation. Policies should foster exchange based on individual strengths to drive development at a reduced cost.
