China NBS: Prudent and neutral monetary policy will provide necessary liquidity

Reuters reporting additional headlines from China’s National Bureau of Statistics (NBS), in the wake of upbeat Chinese Q2 GDP data.

Main Points:

H1 economic achievement "hard won"

China has yet to implement new statistical method on national economy

Implementing new statistical methods on national economy will be a gradual process

Prudent and neutral monetary policy will provide necessary liquidity in the economy, but also prevent rise in debt levels

Expects property investment growth to stabilise

Expects China's consumer price inflation to remain benign

Consumption accounted for 63.4 pct of H1 GDP growth

Capital formation accounted for 32.7 pct of h1 GDP growth

Net exports accounted for 3.9 pct of H1 GDP growth