China is optimistic about reaching its 2024 economic growth target of around 5 percent, according to Liu Aihua, spokesperson for the National Bureau of Statistics (NBS). Speaking at a recent press conference on the country’s economic performance in the first two months of 2024, Liu highlighted the accumulating positive factors driving economic recovery.
“Although the environment for economic development remains complex and grave, the fundamentals of the Chinese economy have continued to improve,” Liu stated. “The positive factors driving economic recovery are accumulating and strengthening.”
The Chinese economy had a solid start in January and February, with most indicators maintaining sound momentum. This strong beginning has laid a good foundation for achieving full-year growth, Liu noted. She pointed to increased movement of people and goods, heightened market vitality, and rapid growth in new types of consumption as key positive factors.
Liu also expects government supportive policies to play a larger role in the economic recovery. Initiatives such as large-scale equipment renewal, trade-ins of consumer goods, and the issuance of ultra-long special treasury bonds are anticipated to boost growth.
However, she cautioned that external instabilities and uncertainties, along with domestic challenges like insufficient effective demand, mean that the foundations of economic recovery still need to be consolidated. “It is necessary to further observe the economic trend in the latter part of the year and further improve the implementation of policies,” Liu emphasized.
Reference(s):
cgtn.com
