China is on track to achieve its full-year GDP growth target of around 5% for 2024, according to Liu Aihua, a spokesperson from the National Bureau of Statistics (NBS). Speaking at a press conference, Liu highlighted the improving fundamentals of the Chinese economy despite a complex and challenging environment.
The early months of 2024 saw a solid start for the Chinese economy, with most economic indicators maintaining strong momentum. This positive performance has laid a robust foundation for meeting the annual growth target.
Liu emphasized several positive factors contributing to the economic recovery, including a more dynamic flow of people and goods, increased market vitality, and rapid growth in new types of consumption. These elements are driving the economy forward and fostering a conducive environment for sustained growth.
Supportive government policies are playing a crucial role in boosting the economy. Initiatives such as large-scale equipment renewal, trade-ins of consumer goods, and the issuance of ultra-long special treasury bonds are expected to enhance economic resilience and recovery.
However, Liu also acknowledged ongoing challenges, including external instabilities and domestic issues like a lack of effective demand. She stressed the importance of consolidating the foundations of economic recovery by further observing trends and improving policy implementation in the latter part of the year.
As China navigates these complexities, the focus remains on maintaining economic momentum and ensuring that supportive measures effectively address both current and emerging challenges.
Reference(s):
cgtn.com
