GDP goal for '25 may stay at 5%
3 weeks, 2 days ago

GDP goal for '25 may stay at 5%

China Daily  

Luo Zhiheng China's GDP growth target for 2025 could be set at around 5 percent, unchanged from this year, after a top-level meeting outlined more proactive and effective macroeconomic policies for the coming year, to tackle various challenges head-on and push the economy on an upward trajectory, said a senior economist. Luo's comments came after policymakers set next year's agenda at the annual Central Economic Work Conference last week, adopting a "more proactive" fiscal policy for the first time and shifting its monetary stance to a "moderately loose" approach, marking an end to a 14-year run of prudent monetary policy. Complementing the fiscal policy initiatives, monetary easing measures, including cuts to the reserve requirement ratio and interest rates — which were also explicitly mentioned at last week's annual meeting — stand as another key component of the countercyclical response, Luo said. "The People's Bank of China has about 0.5 percentage point of room to maneuver in terms of further interest rate cuts in 2025," Luo said, noting that it must carefully calibrate such moves to support economic expansion, while also factoring in potential implications for the exchange rate and the profitability of the banking sector.

Policy China Economic Fiscal Luo Domestic Demand  countercyclical  economic  25  fiscal  growth  gdp  domestic  luo  stay  china  monetary  demand  policy  goal

History of this topic

China's finance ministry vows to step up fiscal spending in 2025
2 weeks, 3 days ago

China's finance ministry vows to step up fiscal spending in 2025

China Daily  

The skyline of Beijing. BEIJING -- China's finance ministry vowed to step up fiscal spending and government bond issuance in 2025, providing stronger support to bolster economic stability. The country will adopt a more proactive fiscal policy next year, and ensure the fiscal policy is continuously forceful and impactful, Finance Minister Lan Fo'an made the remarks during a two-day national …

Six key points to watch as China plans its 2025 economic roadmap
3 weeks, 1 day ago

Six key points to watch as China plans its 2025 economic roadmap

China Daily  

Shoppers buy groceries at a supermarket in Shijiazhuang, Hebei province. Analysts believe the multipronged policy announcements from the meeting -- including the adoption of more proactive macro policies, measures to boost domestic demand and efforts to stabilize the property market -- will support stable economic growth, safeguard jobs and consumer prices, boost people's income, and enhance China's appeal to foreign …

Experts see expansionary moves ahead
4 weeks ago

Experts see expansionary moves ahead

China Daily  

A view of Shanghai's Pudong New Area. China may roll out unprecedented expansionary moves in macroeconomic adjustments next year after a top-level meeting signaled a significant shift of mindset in prioritizing the expansion of domestic demand amid external uncertainties, policy researchers and economists said. Measures in the pipeline may include the highest official projected deficit ratio on record, a sharp …

China to enact more proactive fiscal policy
Trending News
4 weeks ago

China to enact more proactive fiscal policy

China Daily  

By Liu Yukun | chinadaily.com.cn | Updated: 2024-12-14 13:56 China will enact more proactive fiscal policy and moderately loose monetary policy with detailed measures to be delivered at the two sessions the next year, said an official on Saturday. Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, said the move marked …

How will Central Economic Work Conference shape 2025 economy?
Trending News
4 weeks, 1 day ago

How will Central Economic Work Conference shape 2025 economy?

China Daily  

Shi Yu/China Daily China concluded the much-awaited annual Central Economic Work Conference on Dec 12, outlining the government's main economic objectives and policy plans for 2025, which are largely in line with our CEWC preview and Politburo meeting. Therefore, after the March NPC unveils next year's overall policy stimulus package, we think the government may also ramp up additional policy …

Steps ready for stable growth of the economy
4 weeks, 1 day ago

Steps ready for stable growth of the economy

China Daily  

In setting priorities for its economic policy for 2025, China is emphasizing the need to maintain stable growth, employment and commodity prices through steps including higher deficit-to-GDP ratios, the issuance of ultra-long-term special treasury bonds and interest rate cuts. The meeting reaffirmed the need to adopt a moderately loose monetary policy next year, including the rollout of rate cuts and …

China's leaders vow more 'relaxed' monetary policy in 2025
Trending News
1 month ago

China's leaders vow more 'relaxed' monetary policy in 2025

New Indian Express  

BEIJING: Chinese President Xi Jinping and other top leaders said Monday they would adopt a more "relaxed" approach to monetary policy as they hashed out plans to boost the economy next year. The world's second-largest economy is battling sluggish domestic consumption, a persistent crisis in the property sector and soaring government debt -- all of which threaten Beijing's official growth …

Policy support driving V-shaped recovery in Q4, experts say
1 month, 3 weeks ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, the ongoing round of …

Policy support driving V-shaped recovery in Q4, experts say
Top News
1 month, 3 weeks ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
Top News
1 month, 3 weeks ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
Top News
1 month, 3 weeks ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

By Zhou Lanxu | chinadaily.com.cn | Updated: 2024-11-20 14:59 The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities …

Policy support driving V-shaped recovery in Q4, experts say
Top News
1 month, 3 weeks ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
1 month, 3 weeks ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

GDP goal to be met on positive cues
1 month, 3 weeks ago

GDP goal to be met on positive cues

China Daily  

The skyline of Beijing. Citing a package of incremental policy measures announced in recent months, Robin Xing, chief China economist at Morgan Stanley, noted that "recent policy dynamics signal a strong turning of overall government policy in trying to bolster economic growth, boost confidence and stabilize expectations." Xing said he expects to see additional fiscal stimulus in the coming months, …

China leverages fiscal toolbox to consolidate economic growth
2 months ago

China leverages fiscal toolbox to consolidate economic growth

China Daily  

China has appropriately enhanced the intensity of the proactive fiscal policy so far this year, utilizing a combination of policy tools, including ultra-long special treasury bonds and tax and fee reductions to promote its sustained economic recovery. Some 700 billion yuan of funds raised via the ultra-long special treasury bonds have been allocated to support the implementation of major national …

China's Economic Stability: A Steady Beacon Amid Global Uncertainty
2 months, 2 weeks ago

China's Economic Stability: A Steady Beacon Amid Global Uncertainty

China Daily  

China's economy remains a stabilizing force in the global economy, despite the challenges of global geopolitical rivalries and rising government debt. The country's structural reforms and high-quality development strategies have contributed to its stability and growth. China's commitment to high-quality development and its willingness to engage in global trade and cooperation remain crucial for maintaining its economic prosperity and stability …

Growth target within reach on policy effort
2 months, 3 weeks ago

Growth target within reach on policy effort

The Independent  

With a potent set of new policies being implemented on various fronts, China is on course to achieving its full-year economic growth target of around 5 per cent, signalling the resilience of the country’s economy despite challenges at home and abroad, said a senior expert. Chen Wenling, chief economist at the China Centre for International Economic Exchanges in Beijing, said …

Experts urge policy steps to help recovery
4 months ago

Experts urge policy steps to help recovery

China Daily  

A cashier counts RMB notes in a bank in Haian, Jiangsu province. During a news conference on Thursday, Zou Lan, head of the monetary policy department of the People's Bank of China, the country's central bank, said that the current average RRR of financial institutions — the proportion of deposits they must keep as reserves — is about 7 percent, …

China on track to reach economic growth goal
4 months, 3 weeks ago

China on track to reach economic growth goal

China Daily  

Xu Hongcai, deputy director of the China Association of Policy Science's Economic Policy Committee delivers a speech at a news conference held in Beijing, on Tuesday. China is well poised to achieve its economic growth goal of about 5 percent this year, as the country continues to boost domestic demand, a senior expert said on Tuesday. Xu also said insufficient …

Economists advocate direct support to consumers
4 months, 4 weeks ago

Economists advocate direct support to consumers

China Daily  

Tourists visit a cultural block in Xiangyang, Hubei province, June 10, 2024. China's central government should consider additional direct support to consumers worth at least 1 trillion yuan — either cash or vouchers — in the rest of the year to effectively address the pressing challenge of lackluster domestic demand, economists from government-backed think tanks said. Consumption — which contributed …

Economists advocate direct support to consumers
4 months, 4 weeks ago

Economists advocate direct support to consumers

China Daily  

Tourists visit a cultural block in Xiangyang, Hubei province, June 10, 2024. China's central government should consider additional direct support to consumers worth at least 1 trillion yuan — either cash or vouchers — in the rest of the year to effectively address the pressing challenge of lackluster domestic demand, economists from government-backed think tanks said. Consumption — which contributed …

Clear-cut policy toolkit to steer Chinese economy ahead
5 months, 1 week ago

Clear-cut policy toolkit to steer Chinese economy ahead

China Daily  

The skyline of Beijing. Counter-cyclical adjustments should be strengthened, multiple monetary policy tools should be fully utilized, and financial support for the real economy should be reinforced, according to Tuesday's tone-setting meeting of the Political Bureau of the Communist Party of China Central Committee on priorities for H2. Consumption a priority Policymakers underlined the role of consumption in the meeting, …

Clear-cut policy toolkit to steer Chinese economy ahead
5 months, 1 week ago

Clear-cut policy toolkit to steer Chinese economy ahead

China Daily  

The skyline of Beijing. Counter-cyclical adjustments should be strengthened, multiple monetary policy tools should be fully utilized, and financial support for the real economy should be reinforced, according to Tuesday's tone-setting meeting of the Political Bureau of the Communist Party of China Central Committee on priorities for H2. Consumption a priority Policymakers underlined the role of consumption in the meeting, …

China revs up fiscal policy support to spur economic recovery
5 months, 1 week ago

China revs up fiscal policy support to spur economic recovery

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. BEIJING - China is making efforts to step up its fiscal policy support and ensure the implementation of established policies, aiming to consolidate its economic recovery as rising external headwinds weigh on growth. The country will strengthen its fiscal policy to ensure the economy sustains its recovery momentum, …

China to step up fiscal policy implementation to spur economic recovery: official
5 months, 1 week ago

China to step up fiscal policy implementation to spur economic recovery: official

China Daily  

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. The country will issue the ultra-long special treasury bonds in a timely manner and make good use of the funds raised from the bond sales, Lin Zechang, of the Ministry of Finance, told a press conference. Lin said that the country will also speed up the issuance …

Broad govt spending needed to boost long-term growth
5 months, 2 weeks ago

Broad govt spending needed to boost long-term growth

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. Reduced government spending decreased total market demand and could further suppress economic activity, affecting key economic areas such as business investment and consumer spending, leading to poor growth momentum and even contraction. As a matter of fact, government bonds are foundational financial assets and the base of the …

Intensifying policy implementation helps stabilize growth and expectation
5 months, 2 weeks ago

Intensifying policy implementation helps stabilize growth and expectation

China Daily  

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. Latest statistics show that up to now, all the 15,000 projects funded by such bonds have been launched, a sign of China's strengthened macro-regulation to play the role of government investment in boosting the economy. Restoring and expanding demand is the key to sustained economic recovery while …

Chinese economy gathers steam amid targeted policy mix
5 months, 3 weeks ago

Chinese economy gathers steam amid targeted policy mix

China Daily  

Containers are unloaded at Qingdao Port in Shandong province in March. BEIJING - Multiple indicators have pointed to improved performance of the Chinese economy in the first half, signaling sustained recovery momentum as the country navigates hurdles and headwinds with a targeted policy mix. Speaking at a symposium on the economic situation last week, Premier Li Qiang said that the …

Economist predicts further upswing for economy
9 months ago

Economist predicts further upswing for economy

China Daily  

China's economic outlook is poised to improve in the following months, buoyed by robust fiscal spending, and the country's growth target of around 5 percent for 2024 is achievable, according to a renowned economist. Huang Yiping, dean of Peking University's National School of Development, told China Daily in an exclusive interview that the nation's economy is relatively stable, with better-than-expected …

China's new budget book reveals fiscal priorities for 2024
9 months, 3 weeks ago

China's new budget book reveals fiscal priorities for 2024

China Daily  

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. Greater fiscal input The ultra-long special treasury bonds to be issued over each of the next several years, along with other arrangements including budget deficits, special-purpose bonds, preferential tax and fee policies as well as government subsidies, mark the country's strengthened fiscal …

Fiscal moves to bolster recovery
10 months ago

Fiscal moves to bolster recovery

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing, China. At a news conference on Wednesday on the sidelines of the ongoing annual session of the national legislature, Lan Fo'an, minister of finance, said work will be done to expand fiscal expenditure appropriately to ensure sufficient funding for major national strategic tasks, markedly increase …

China pushes for 5% GDP growth
10 months ago

China pushes for 5% GDP growth

China Daily  

China aims to see economic expansion at around 5 percent for 2024, unchanged from last year, as the world's second-largest economy will leverage intensified and targeted macro policies to sustain stable growth, according to the Government Work Report released on Tuesday. The country pledged to pursue a proactive fiscal policy that will be intensified as appropriate with improved quality and …

5 reasons why China's 5% GDP growth target is in the news
10 months ago

5 reasons why China's 5% GDP growth target is in the news

Firstpost  

Analysts have been warning investors to stay away from investing in China. Goldman Sachs chief investment officer Sharmin Mossavar-Rahmani said, ‘Most people think that is not the real growth number—it was actually a lot weaker’ Premier Li Qiang addressed National People's Congress at the Great Hall of the People in Beijing on Monday. Reuters file China is still in the …

China pushes for 5% GDP growth
10 months ago

China pushes for 5% GDP growth

China Daily  

Premier Li Qiang delivers the Government Work Report at the opening meeting of the second session of the 14th National People's Congress at the Great Hall of the People in Beijing on Tuesday. FENG YONGBIN / CHINA DAILY China aims to see economic expansion at around 5 percent for 2024, unchanged from last year, as the world's second-largest economy will …

Increase in fiscal revenue result of and boost to solid recovery
11 months ago

Increase in fiscal revenue result of and boost to solid recovery

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing, China. In 2023, the national fiscal revenue exceeded 21 trillion yuan, an increase of 6.4 percent from the previous year. In 2023, the Chinese government's tax revenue was 18,113 billion yuan, an increase of 8.7 percent year-on-year, among which the value-added tax was 6,933.2 billion …

Stable growth to be focus of policy support
1 year ago

Stable growth to be focus of policy support

China Daily  

Experts emphasize need to boost market confidence, stimulate demand in 2024 China is expected to step up policy support for micro, small and medium-sized enterprises and advanced manufacturing in a more precise manner, while also paying more attention to prevent industry regulatory measures from constraining economic vitality, experts said. They said that fiscal policies should amplify the positive effects of …

China expected to maintain steady growth
1 year ago

China expected to maintain steady growth

China Daily  

Employees work on the assembly line of a carmaker in Qingdao, Shandong province. Experts say consumption will remain primary driver of economy in 2024 China's economy is set to maintain robust and steady growth in 2024 as domestic demand further recovers, driven by ramped-up macroeconomic policy support and the deepening of industrial upgrading, senior experts said. Traditional consumption areas such …

Country's strategic priorities reflect Chinese wisdom
1 year ago

Country's strategic priorities reflect Chinese wisdom

China Daily  

The financial district of Pudong New Area. In addition, the nation's recently announced strategic priorities — science technology, innovation, development of a modern industrial system, the boosting of domestic demand, support for agriculture and rural farmers, integration of urban-rural development, coordinated regional development, immense social development, high-level opening-up and prevention of risks in key areas — vividly reflect the economic …

China expected to maintain steady growth
1 year ago

China expected to maintain steady growth

China Daily  

A view of the Huangpu River in Shanghai. Experts say consumption will remain primary driver of economy in 2024 China's economy is set to maintain robust and steady growth in 2024 as domestic demand further recovers, driven by ramped-up macroeconomic policy support and the deepening of industrial upgrading, senior experts said. Traditional consumption areas such as vehicles and electronics are …

Early policy key to strong performance
1 year, 1 month ago

Early policy key to strong performance

China Daily  

A view of the Huangpu River in Shanghai. Top planning body ensures solid start for 2024 economy with effective moves China's top economic regulator vowed on Thursday to front-load policy support early next year to achieve a solid start for the Chinese economy in 2024, as mixed economic indicators for October necessitated more stimulus to sustain recovery momentum. Stepped-up fiscal …

Early policy key to strong performance
1 year, 1 month ago

Early policy key to strong performance

China Daily  

A view of the Huangpu River in Shanghai. Top planning body ensures solid start for 2024 economy with effective moves China's top economic regulator vowed on Thursday to front-load policy support early next year to achieve a solid start for the Chinese economy in 2024, as mixed economic indicators for October necessitated more stimulus to sustain recovery momentum. Stepped-up fiscal …

China's economic resilience: Beyond Western misconceptions
1 year, 4 months ago

China's economic resilience: Beyond Western misconceptions

China Daily  

Containers are unloaded from a ship at a port of Qingdao, East China's Shandong province. Recent claims by some Western politicians and media outlets alleging that China's economic slowdown could jeopardize global growth deeply misconstrue realities. Furthermore, propagandized portrayals of looming "China collapse" theories reveal more about internal Western anxieties than actual Chinese economic conditions. Objective examination of China's durable …

Policy support set to boost consumption
1 year, 8 months ago

Policy support set to boost consumption

China Daily  

Nation will deepen reforms to increase incomes, bridge urban-rural wealth gap China will step up its policy support to increase consumer spending and unleash the country's purchasing potential, a key force that propels the nation's economic recovery and underpins its endeavors toward modernization and prosperity, experts said. The policy push, including the removal of administrative restrictions in the housing and …

Policy support set to boost consumption
1 year, 8 months ago

Policy support set to boost consumption

China Daily  

People choose products in a duty-free shop in Haikou, South China's Hainan province on Jan 26, 2023. The policy push, including the removal of administrative restrictions in the housing and automobile markets, is among China's priorities in order to revive the vibrancy of its consumer market because the central leadership has identified insufficient domestic demand as an acute challenge facing …

Policy support set to boost consumption
1 year, 8 months ago

Policy support set to boost consumption

China Daily  

People choose products in a duty-free shop in Haikou, South China's Hainan province on Jan 26, 2023. The policy push, including the removal of administrative restrictions in the housing and automobile markets, is among China's priorities in order to revive the vibrancy of its consumer market because the central leadership has identified insufficient domestic demand as an acute challenge facing …

China to expand fiscal spending to support economic recovery
2 years ago

China to expand fiscal spending to support economic recovery

China Daily  

A worker counts Chinese currency renminbi at a bank in Linyi, East China's Shandong province. China will appropriately expand fiscal spending as the government aims to provide "more direct and effective" fiscal support for economic recovery in 2023, according to the Ministry of Finance. "We will appropriately expand fiscal spending by optimizing the tool mix of fiscal deficit, local government …

Real-estate debt, crackdowns and COVID policies throw a spanner in China’s economy
2 years, 2 months ago

Real-estate debt, crackdowns and COVID policies throw a spanner in China’s economy

The Hindu  

There are only a few workers today manning the whirring conveyor belts at the “intelligent logistics park” of the $100 billion Chinese e-commerce giant JD.com, which together with Alibaba dominates the world of Chinese online retail. JD’s recently accelerating push towards automation presents a snapshot of the state of China’s economy, as the country’s leadership pushes forward with ambitious plans …

China pledges support for ailing economy, analysts doubt impact
2 years, 7 months ago

China pledges support for ailing economy, analysts doubt impact

Al Jazeera  

Beijing says it will roll out additional tax cuts and postpone social security payments for firms to support growth. China has pledged tax cuts and infrastructure spending to support economic growth, as economists poured doubt on a strong rebound for the world’s second-largest economy as long as lockdowns persist. Beijing will increase annual tax cuts by more than 140 billion …

刘昆：今年的财政政策保持基本稳定，不急转弯
3 years, 10 months ago

刘昆：今年的财政政策保持基本稳定，不急转弯

China Daily  

3月5日举行的全国两会首场“部长通道”上，面对记者关心的财政热点问题，财政部部长刘昆第一时间给予回应。 新华社记者 才扬 摄 China will keep its fiscal policy basically stable and make no sharp turns in 2021, the finance minister said Friday. 今年的赤字率、新增地方政府专项债券限额比去年有所降低。 However, compared with 2019, China's total deficit will increase by 810 billion yuan to 3.57 trillion yuan this year. The quota of the newly-added special-purpose local government bonds for 2021 will stand at 3.65 trillion …

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