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Sylvia Ma

The flagship newspaper of China’s ruling Communist Party has run back-to-back commentaries defending the resilience of the world’s second-largest economy, saying domestic risks were being contained while China continued to provide greater stability to the global economy.
The People’s Daily commentaries, published on Saturday and Sunday, came as weak domestic demand and persistent imbalances weighed on second-quarter growth, with July data showing little improvement.
“In the second half of the year, as major projects … get under way and macroeconomic policies take effect in a timely and effective manner, China’s economic performance will remain within a reasonable range, and the country will successfully achieve its annual targets,” Saturday’s commentary said.
The two pieces were published under the pen name of “Zhong Caiwen”, which is widely believed to be associated with the Central Financial and Economic Affairs Commission, a key economic decision-making body headed by President Xi Jinping.
Saturday’s article argued that China’s economic resilience should be assessed not only through headline figures, but also through the quality of growth.
It pointed to continued expansion in hi-tech and equipment manufacturing, while noting that risks linked to property, local government debt and smaller financial institutions were being systematically addressed.
“The risks and hidden dangers in the economic field are being resolved and contained in an orderly manner,” the commentary said, adding that China had maintained the bottom line of preventing systemic risks.
China reported 4.3 per cent gross domestic product growth in the second quarter, the slowest quarterly growth rate since the end of 2022. Retail sales, a major gauge of consumer spending, grew by only 0.6 per cent year on year last month.
Saturday’s article came a day after China’s Ministry of Finance unveiled new measures aimed at boosting spending on big-ticket items such as vehicles and home renovations, with more action pledged for later in the year.
Sunday’s piece, meanwhile, took aim at the “China shock 2.0” narrative, instead describing China as “a stabilising anchor for global industrial and supply chains” that supported the smooth functioning of the global economy.
China’s strength in new energy had helped it reduce oil imports and ease pressure on global oil prices at a time when the US-Israel war on Iran was tightening global crude supplies and driving up raw material costs, the article noted.


The commentary also cited strong European demand for Chinese-made air conditioners during recent heatwaves as evidence of Chinese manufacturers’ ability to respond quickly to overseas demand, backed by integrated supply chains, energy-efficient technologies and fast delivery.
Late last year, an eight-part op-ed series in the People’s Daily under the same byline was published before the fourth plenary session of the party’s Central Committee, describing the Chinese economy as an “unsinkable economic aircraft carrier”.
The plenum approved recommendations for China’s 15th five-year plan, covering the 2026-2030 period.


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Risks are ‘being resolved and contained’, back-to-back weekend commentaries assert after second-quarter GDP misses mark


Risks are ‘being resolved and contained’, back-to-back weekend commentaries assert after second-quarter GDP misses mark.


China

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People’s Daily

Central Financial and Economic Affairs Commission (China)

People’s Daily defends China’s economic resilience, says annual targets will be met

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Risks are ‘being resolved and contained’, back-to-back weekend commentaries assert after second-quarter GDP misses mark

Risks are ‘being resolved and contained’, back-to-back weekend commentaries assert after second-quarter GDP misses mark