Yicai Chief Economist Index Up In July

The Yicai Chief Economist Index increased to 50.46 in July, up from 50.21 in June and 50.27 in May, according to Yicai. Economists said the government should introduce fiscal, taxation and finance policies to boost the private sector and build a fair market environment. Changjiang Securities Chief Economist Wu Ge said authorities should ensure the 5% growth target can be reached by implementing real-estate support. Historically, China addressed disinflation pressure through implementing major structural reforms, which the country may also need this time, he said. Another economist noted authorities should expand China’s social security system to allow for an increase in consumption over the longer term.