China is gearing up to invigorate its economy in 2025 by boosting consumption and expanding domestic demand. During the Central Economic Work Conference held in Beijing, Chinese leaders outlined these key objectives, emphasizing the importance of a more proactive fiscal policy.
The conference highlighted plans to implement strategies that encourage spending among citizens and stimulate economic growth from within. By focusing on domestic demand, China aims to create a stronger, more self-sustaining economy that can better withstand global uncertainties.
Zhang Ning, Senior China Economist at UBS, shared insights into these strategies. "Enhancing domestic demand is crucial for China’s economic resilience," Zhang said. "A moderately loose monetary policy will provide the necessary support for businesses and consumers."
The shift towards a "moderately loose" monetary policy indicates a move to make borrowing easier, encouraging businesses to invest and consumers to spend. This approach is expected to fuel economic activity and drive growth in various sectors.
China’s commitment to these goals reflects its proactive stance in addressing economic challenges and leveraging internal strengths. As the world navigates shifting economic landscapes, China’s focus on boosting domestic consumption could play a significant role in sustaining its growth trajectory.
Reference(s):
cgtn.com
