There will neither be major fluctuations nor a second dip in Chinese economy, said Li Pumin, spokesman of the country's National Development and Reform Commission (NDRC) Tuesday.

The Chinese government is confident of maintaining a stable and relatively fast economic growth, said Li.

According to Li, the country's macroeconomic policies in the second half would focus more on resolving "prominent contradictions", including stabilizing commodity prices and sticking to current real estate policies while improving the operating environment for small enterprises.

In the first half of this year, China's GDP growth declined to 9.6 percent year-on-year, compared with the 9.7 percent in the first quarter and the 9.8 percent in the fourth quarter of last year.

However, the moderate decline in economic growth is a result of China's macroeconomic policies and its proactive regulating efforts, said Li. The cooling down is beneficial to the country in terms of improving market supply and demand, easing price-hike pressure, and relieving resources and environmental restraints, Li said.

"As long as the central government's policies are well implemented, a sound economic growth can be achieved," said Li.

China's official Purchasing Managers Index (PMI) dropped for the fourth consecutive month in July to 50.7 percent, 0.2 basis points lower compared to last month, indicating a continuous slowdown of the country's manufacturing activities.

On Monday, the central bank reiterated that it will not relax monetary policy in the second half of this year as it continues to battle inflation and speculation in the property market.

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