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

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.