China's economy is showing strong signs of recovery as recent policy measures take effect, leading to significant gains in stock markets and record trading volumes.
The Political Bureau of the Communist Party of China (CPC) Central Committee convened on September 26 to analyze the current economic situation and plan further economic work. The meeting concluded that the Chinese economy has maintained overall stability this year, achieving progress while ensuring stability.
To continue this positive trend, the country plans to effectively implement existing policies, intensify efforts to introduce incremental measures, enhance the targeting and effectiveness of policy initiatives, and strive to accomplish the economic and social development goals set for this year.
On September 24, China's central bank, top securities regulator, and financial regulator announced a series of monetary stimulus initiatives, property market support, and measures to strengthen the capital market, aiming to boost the country's high-quality economic development.
The stimulus package appears to be working effectively. Chinese stock markets have shown robust recovery, buoyed by these policies. The Shanghai Composite Index gained around 20 percent by the end of September, while the Shenzhen Component Index rose by approximately 25 percent. On September 30, the combined trading value at the Shanghai and Shenzhen exchanges reached a new single-day record of 2.6 trillion yuan (about $370 billion).
These developments indicate growing investor confidence and a positive outlook for China's economic future, as the country continues to implement strategic policies to promote stability and growth.
Reference(s):
cgtn.com
