China is set to accelerate its economic growth with a new set of incremental policies introduced by Zheng Shanjie, head of the National Development and Reform Commission, at a press conference on October 8. In response to a complex and volatile global economic environment, these measures aim to achieve a five percent annual growth target.
The comprehensive policy package focuses on several key areas, including the vigorous implementation of macro policies, expansion of domestic demand, enhanced support for enterprises, stabilization of the real estate market, and the promotion of the capital market. By addressing these multiple facets of macroeconomic regulation and control, China seeks to stimulate market vitality through structural reforms and institutional innovations.
Beyond economic structures, the policies emphasize improving the livelihoods of citizens. Initiatives such as one-time living subsidies for those in extreme poverty and orphans, along with increased national student loan limits for undergraduate and graduate students, are designed to directly enhance the welfare of low- and middle-income groups. These targeted efforts reflect China's commitment to fostering inclusive growth and ensuring that economic advancements benefit a broad spectrum of its population.
Reference(s):
cgtn.com
