Amid rising global uncertainties, China is rolling out new policies to boost its economy and secure jobs, aiming to keep growth steady and achieve its development goals by 2025.
At a press conference on Monday, senior officials outlined a series of measures designed to strengthen economic momentum for the rest of the year. Zhao Chenxin, deputy head of the National Development and Reform Commission, detailed plans focusing on five key areas: supporting employment, stabilizing foreign trade, promoting consumption, expanding investment, and fostering a healthy development environment.
“We aim to ensure that businesses and individuals feel tangible benefits,” Zhao said. The government will encourage companies to maintain stable staffing levels and introduce tailored policies to help export enterprises mitigate risks.
To boost consumption, China plans to stimulate service sectors, promote automobile sales, and galvanize private investment. Measures will be introduced to keep capital markets stable and active, and to support the real estate market’s recovery.
Zou Lan, deputy governor of the People’s Bank of China, announced that the central bank will implement timely cuts in reserve requirement ratios and interest rates. “We will ensure ample liquidity to foster job stability and economic resilience,” Zou said.
The central bank is also exploring ways to expand its policy toolkit, planning to introduce new measures to strengthen the foundations of economic development and social stability.
These announcements come as China navigates complex global economic challenges while maintaining a resilient growth trajectory. With a 5.4% GDP increase in the first quarter, policymakers acknowledged the positive trend at a high-level meeting last Friday but emphasized the need to consolidate economic recovery.
The meeting of the Political Bureau of the Communist Party of China Central Committee called for preparing for worst-case scenarios and dealing with uncertainties in the external environment by focusing on high-quality development.
Addressing questions about “reciprocal tariffs” imposed by the United States, Zhao described the protectionist measures as unilateral and doomed to fail. “China will stand on the right side of history and human progress,” he said, expressing confidence in the country’s ability to ensure its grain and energy security independently.
Despite external challenges, officials expressed confidence in China’s capacity to maintain steady economic performance. “With ample policy reserves and sufficient room for maneuver, we are fully confident in achieving this year’s economic and social development goals,” Zhao stated.
China has set its economic growth target at around 5% for this year and the next. To achieve this, the government will intensify efforts to implement existing policies fully, including campaigns to boost consumption and effectively utilize investment funds at the national level.
“We will introduce additional policies promptly in response to changing conditions,” Zhao added. “No matter how the international situation evolves, we will stay focused on managing our own affairs well.”
