China's economy has been maintaining stable growth with more momentum unleashed by market entities, and major indicators have beaten expectations, Chinese Premier Li Keqiang said on Tuesday. He also called for positive financial and monetary policies while prioritizing employment. 

In spite of complicated factors in both domestic and international markets, China's economy has been advancing at a steady pace, and newly employed people have surpassed 7.3 million, he said during a conference with major Chinese entrepreneurs. 

China's GDP grew 6.3 percent year-on-year in the first half of 2019, slowing from 6.4 percent in the first quarter, but still within a reasonable range, analysts said. Meanwhile, the stable, high-quality and sustainable growth shows the resilience of the Chinese economy.

Carrying out larger-scale cuts in tax and fees and cuts to the reserve requirement ratio helped to counter external challenges and stabilize economic growth in the first six months, Li said. He also called on authorities to undertake positive financial policies and stable monetary policies while prioritizing employment.

The GDP growth rate in the first half of 2019 was also "hard-won" as Beijing did not resort to a "flood-like" stimulus package to cope with the global slowdown and domestic structural problems, according to the National Bureau of Statistics. 

Policies such as micro adjustment and counter-cyclical adjustment tools will also help to cut fees and taxes by nearly 2 trillion yuan ($290.8 billion), the premier said. 

Global Times