Premier Lin Chuan says he hopes that the economy will recover in the second half of the year. In an interview on Friday, Lin said it is too soon to be pessimistic.
“Right now, several forecasters are not optimistic about whether [GDP growth] will stay above 1%. But it’s August and there are several months to work on in the second half of the year. We of course hope that the slowdown will bottom out and the economy will begin to show signs of a recovery," sadi Lin.
Lin said while the measures taken by the Cabinet to prop up the economy are helpful in the short term, the key lies in bringing about structural changes.