Boost to market confidence, growth momentum
China DailyAn employee tests LED lights at a tech company in Ruichang, Jiangxi province. WEI DONGSHENG/FOR CHINA DAILY China's recent decision to deepen economic structural reforms will significantly boost market confidence, revive growth momentum, and facilitate the country's sustainable and high-quality development in the next few years, said officials, experts and entrepreneurs. They estimated that China's economic activity will likely continue to pick up in the remainder of the year, driven by reforms to tackle structural issues, improvement in domestic demand, resilient manufacturing activity and stimulus policy measures. They, however, warned the economy is still facing challenges from ongoing disinflationary pressures, still-weak consumer confidence, and potential risks in local government debt and the real estate sector. "Economic reforms in real estate, local government debt and initiatives to promote consumption and enhance social welfare are the three aspects that concern me the most," said Li.