China's top economic planner says that despite recent data pointing to a slowdown (that PMI data), China's economic growth is still stable and relatively fast.

For the second half of the year, the NDRC, says fighting inflation will remain a major priority.

China's top economic planner says the government will continue its proactive fiscal policy and prudent monetary policy, to maintain continuity and stability.

The NDRC also says stabilizing consumer prices remains the most important task of economic regulation in the second half of the year. Priority will be given to containing property prices and creating a friendly environment for small enterprises, which are major contributors to the nation's employment.

Li Pumin, deputy Secretary General from NDRC said, "We will stick to our property market regulation policies, to contain soaring housing prices. We will also improve the environment for small businesses, and help relieve their operation difficulties. "

Li also says that although China's GDP growth cooled by 1.5 percentage points from a year ago, it is still stable and relatively fast.

Liu said, "The Chinese economy will not experience a "double-dip" nor big fluctuations. The government is capable and confident it can keep steady and relatively fast growth in the long-run"

Li admits though, that the country still faces significant challenges, such as the weakening global economic recovery and unbalanced, unsustainable domestic development.