China is on course to hit growth goals

reversing a decline of 1.4 percent for last year.

Manufacturing activity also beat market expectations last month, as the purchasing managers’ index, or PMI, stood at 51.7. This was higher than the May figure of 51.

“China should consolidate the foundation for a stable economic performance with sound growth momentum,” Premier Li Keqiang said last week when meeting entrepreneurs and experts.

The country will continue to stabilize macroeconomic policies, market expectations and the financial market by sticking to its proactive fiscal policy and prudent monetary policy, he added.

Efforts will also be made to ensure stable employment, reduce corporate burden, expand effective investment and make consumption play a larger role in economic growth.

“China has the momentum to realize medium-high growth, so the country can attain its annual growth target,” said Li, of the Development Research Center of the State Council.

Last month, staff at the International Monetary Fund made a preliminary forecast for China’s growth this year at 6.7 percent, higher than the 6.6 percent projection in the IMF World Economic Outlook report issued in April.

“China has the potential to safely sustain strong growth over the medium term as it continues to move onto a more sustainable growth path and advance reforms,” said David Lipton, IMF first deputy managing director.