Yan Pengcheng, a spokesperson for the National Development and Reform Commission (NDRC) said at a news conference on July 18 that China’s better-than-expected GDP for the first half of 2017 was mainly driven by consumption, not infrastructure investment.
Yan noted that consumption’s contribution to growth has increased to 65 percent of GDP over the past three years.
He also said that innovation has been playing a more important role in the economy. “Internet plus” and the sharing economy have injected fresh momentum into the continuous development of China’s economy, according to Yan.
The NDRC spokesperson added that the central government believes the effects of supply-side reforms had been gradually realized, and that China remained a hot destination for foreign investment.