China Gears Up to Achieve 2025 Economic Growth Targets
China is pulling out all the stops to ensure it hits its ambitious 2025 economic growth goals. At a recent press conference, Yuan Da, deputy secretary-general of the National Development and Reform Commission (NDRC), emphasized that the country has ample room to maneuver with macro policies to keep the economy on track.
Boosting Domestic Demand
One of China’s top priorities is to stimulate domestic demand. “The advantages of China’s vast market remain, and the consumer market is expected to see continued growth,” Yuan said. To achieve this, China plans to issue more ultra-long special treasury bonds. The funds will support large-scale equipment upgrades, consumer goods trade-in programs, and major national projects, especially those enhancing security in critical areas.
Opening Up Further to the World
China is also committed to high-level opening-up. Zhao Chenxin, NDRC deputy director, stated that the nation intends to continue opening up its economy in 2025. “We plan to encourage greater foreign investment in advanced manufacturing, modern services, high-tech industries, energy saving, and environmental protection,” Zhao explained.
Stabilizing Key Markets
Efforts will be intensified to stabilize the property market and revitalize the capital market. Moreover, China aims to upgrade major industries and foster emerging and future industries, ensuring they stay ahead in innovation and technology.
Confidence in the Future
“China’s economy has a stable foundation, multiple advantages, strong resilience, and great potential,” Yuan noted. By deepening reforms and boosting the domestic circulation of the economy, China aims to stimulate internal momentum for development.
With these strategies in place, China is confident in promoting a continued economic rebound in 2025 and accomplishing the goals set in the 14th Five-Year Plan.
Reference(s):
Ample space in macro policies to support 2025 China growth targets
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