Lou Qinjian, spokesperson for China's National People's Congress (NPC), underscored the nation's economic resilience during a press conference in Beijing on Tuesday, expressing optimism about sustained growth. Speaking ahead of the third session of the 14th NPC, Lou emphasized China's \"abundant advantages\" and \"significant potential\" despite global uncertainties.
Strong Growth Fuels Confidence
China's economy grew by 5% in 2024, pushing its GDP to over 130 trillion yuan ($17.8 trillion), according to official data. Lou attributed this performance to the country's industrial capacity, ultra-large market, and ongoing reforms outlined in the Third Plenary Session of the 20th Communist Party of China Central Committee.
Private Economy Gains Legislative Support
A draft Private Economy Promotion Law has been submitted to the NPC Standing Committee, signaling efforts to bolster entrepreneurship. The legislation aligns with the \"two unwavering commitments\" policy, aiming to level the playing field for private businesses and enhance market confidence.
Analysts highlight China’s transition toward high-tech industries and green energy as key drivers for future growth, though external pressures and domestic structural reforms remain focal points for policymakers.
