Scholar: Domestic economy shows steady improvement

Macroeconomic indicators from December 2016 show that China’s economy still faces downward pressure, but generally it has maintained steady improvement, said Yan Yan, deputy director of the joint committee of the Institute of Economic Research at Renmin University of China, at the recent monthly macroeconomic analysis conference hosted by the university. This trend is shown in the continued moderate increase of the resident’s consumer goods price, the significant improvement of the month-on-month growth rate of trade and the recovery of long- and mid-term credit demand of enterprises, Yan said. In the next few years, commercial banks will face great pressure, so macroeconomic adjustment and control in 2017 should shift its focus from steady growth to risk prevention, said Zhang Ming, director of the International Investment Division at the Institute of World Economics and Politics under the Chinese Academy of Social Sciences.