China’s economy is expected to maintain its recovery momentum in November and December, thanks to the effectiveness of the country’s policy toolkit, the National Development and Reform Commission (NDRC) announced on Tuesday.
Speaking at a press conference, NDRC spokesperson Li Chao stated that the commission, China’s top economic planner, is collaborating with other parties to achieve the full-year growth target. Li emphasized that multiple economic indicators have shown a rise in market confidence and expectations among business entities since September.
“We have observed an increase in companies’ willingness to invest and produce,” Li said, highlighting the positive trends emerging in the fourth quarter of the year.
Data from the National Bureau of Statistics revealed that despite challenges at home and abroad, China’s GDP grew by 4.8 percent year-on-year in the first three quarters of 2024. The annual economic growth target for this year is around 5 percent.
The proactive measures implemented by the government have played a significant role in stabilizing the economy. The NDRC’s efforts to stimulate investment and bolster market confidence are expected to sustain the recovery momentum through the end of the year.
Reference(s):
NDRC: China's economy to sustain recovery in November & December
cgtn.com
