The value of China's logistics sector reached 167.4 trillion yuan ($23.09 trillion) in the first half of this year, up 5.8 percent year-on-year, according to data released by the China Federation of Logistics and Purchasing on July 30.

Recent economic data has also shown positive developments. China's National Bureau of Statistics said that industrial operating income rose 7.5 percent year-on-year in the first half of the year.

In addition, China's exports exceeded 21 trillion yuan for the first time in the first half of the year, setting a new record.

Recent data suggest that China’s economy is on the path of recovery and steady growth. Experts say that the implementation of various policies since the Third Plenary Session of the 20th Central Committee of the Communist Party of China has been instrumental in supporting this growth trajectory.

Experts believe in the resilience of the Chinese economy and its significant contribution to global economic growth.

Cong Yi, a professor at Tianjin School of Government, told the Global Times on July 30 that the third conference has put forward new policy directions and measures to meet market demand.

“Continued reforms and targeted solutions to key challenges will build confidence in the market. As policies are implemented across various sectors, we can expect to see increased market vitality and sustained confidence in the near future,” said Mr. Cong.

Various government agencies have actively implemented policies and measures after the Third Conference, including initiatives to support foreign trade, promote technological breakthroughs, and stabilize the stock and real estate markets.

The General Department of Customs recently announced that it will continue to optimize and promote cross-border trade facilitation, focusing on improving the efficiency of customs clearance and logistics.

The National Development and Reform Commission, China's top economic planning agency, said it will focus on promoting technological innovation and strengthening the development of national strategic science and technology capabilities.

China is expected to meet its economic targets and is expected to take stronger policies in the second half of the year to stabilize growth. Yang Delong, chief economist at Shenzhen-based First Seafront Fund, told the Global Times that by focusing on real estate, the stock market, private enterprises and improving employment and income, it will boost consumer spending and promote economic recovery.

China will continue to be the "biggest engine" driving global growth in the next five years, said Cai Wei, chief strategy officer at KPMG China Advisory, adding that China's contribution to the world economy remains at its highest level amid the global downturn.

The Dan (according to Global Times )