China’s annual Central Economic Work Conference, held this Thursday, has reinforced confidence in the nation’s economic trajectory for 2025. Despite facing global challenges, the Chinese economy has demonstrated stability and progress in 2024, achieving significant strides in high-quality development and meeting major annual economic and social development goals.
Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, Chinese president, and chairman of the Central Military Commission, highlighted the accomplishments during the meeting. The conference reviewed the economic performance of 2024 and outlined strategic directions for the upcoming year.
With a comprehensive policy toolkit, China has witnessed robust advancements in consumption, investment, and exports. In October, official data indicated that China’s real estate production index grew for the first time since June 2023. The transaction volume of new commercial housing and existing homes increased by 3.9 percent year-on-year, marking the first rise in eight consecutive months.
Additionally, China’s total goods imports and exports expanded steadily in the first 11 months of the year, growing by 4.9 percent year-on-year in yuan terms, according to data from the General Administration of Customs. Notably, exports of containers, ships, and motorcycles surged by 108.7 percent, 65.3 percent, and 24.8 percent respectively.
Looking ahead to 2025, boosting consumption emerged as a central theme. The conference called for enhanced efforts to stimulate consumer spending, improve investment efficiency, and expand domestic demand across all sectors. A special campaign is set to be implemented to bolster consumer confidence and purchasing power, aiming to sustain and invigorate economic growth.
The positive outcomes and strategic plans discussed at the conference have set a hopeful tone for China’s economic future, emphasizing the country’s commitment to stability and prosperity amidst global economic uncertainties.
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Central Economic Work Conference boosts confidence in Chinese economy
cgtn.com
