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Yao made the remarks at the ongoing 2009 International Forum on Chinese Automotive Industry Development in Tianjin, adding that the worst time for the economy was between November and February.
Despite signs of life, the Chinese economy still faces uncertainties, as growth in the world's third largest economy was boosted mainly by investment, not consumption, he added.
Official figures showed that investment contributed 6.2 percentage points to China's 7.1 percent year-on-year gross domestic product growth in the first half, and consumption added 3.8 percentage points. Exports, sliding for eight straight months, dragged down growth by 2.9 percentage points.
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