China’s top economic planner has expressed confidence in the nation’s ability to achieve its 2025 economic growth targets, citing ample room for macroeconomic policies and a wealth of macro-control tools. Yuan Da, deputy secretary-general of the National Development and Reform Commission (NDRC), spoke at a press conference on Friday, emphasizing the government’s commitment to sustaining economic momentum.
“With ample room for macro policies, richer macro-control tools can provide robust support for achieving the 2025 economic growth target,” Yuan stated. This assertion underscores the government’s readiness to deploy policy measures to stabilize and stimulate the economy as needed.
Looking ahead, China will prioritize boosting domestic demand across the board. “The advantages of China’s vast market remain, and the consumer market is expected to see continued growth,” Yuan noted. This focus on domestic consumption aligns with the nation’s long-term strategy to foster sustainable economic development.
To facilitate this growth, the country will significantly increase the issuance of ultra-long special treasury bonds. These funds will support the implementation of large-scale equipment upgrades and consumer goods trade-in programs. Additionally, investments will be directed toward projects that advance major national strategies and enhance security capacity in critical areas.
The emphasis on upgrading infrastructure and stimulating consumer spending reflects China’s proactive approach to addressing economic challenges and leveraging its domestic market potential. By investing in key sectors and promoting technological advancements, the government aims to bolster economic resilience and ensure steady growth leading up to 2025.
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Ample space in macro policies to support 2025 China growth targets
cgtn.com
