China remains a pivotal engine for global stable growth, with significant optimism surrounding its economic recovery in 2024. The recent Central Economic Work Conference held in December has set a clear direction, focusing on achieving progress while maintaining stability. This strategic approach emphasizes overcoming current challenges and enhancing the overall economy.
Experts are keenly watching for the emergence of new driving forces and opportunities that could propel China's economy forward in the coming year. Robin Xing, Morgan Stanley's chief China economist, highlights potential innovations in technology and sustainable development as key areas for growth. Yang Yang, a professor at the Hong Kong University of Science and Technology (Guangzhou), points to the expansion of the service sector and increased foreign investment as critical factors.
Hong Hao, chief economist at GROW Investment Group, adds that policy reforms aimed at boosting domestic consumption and improving business environments will play a significant role in fostering economic resilience. Together, these insights paint a promising picture of China's economic landscape in 2024, underscoring its continued importance in driving global economic stability.
Reference(s):
cgtn.com
