China has unveiled plans to strengthen fiscal and consumption policies to achieve its 2025 economic growth target of 5%, emphasizing resilience amid global uncertainties. The announcement came during a press conference at the third session of the 14th National People's Congress in Beijing, where officials underscored confidence in sustaining high-quality development.
Zheng Shanjie, head of the National Development and Reform Commission, highlighted China's 2024 GDP of 135 trillion yuan ($18.6 trillion) as evidence of the economy's “solid foundation.” While challenges such as subdued domestic demand persist, Zheng stressed that policy coordination will focus on boosting innovation-driven industries and stabilizing key sectors.
Analysts suggest that achieving the 2025 target hinges on proactive measures to address supply chain shifts and consumer sentiment. The roadmap includes enhanced fiscal support for technology and green energy, alongside incentives to stimulate household spending.
This strategy aligns with broader ambitions to cement China’s role as a global economic stabilizer, offering insights for investors monitoring Asia’s recovery trajectory.
