At the World Bank's 110th Meeting of the Development Committee in Washington DC, Liao Min, vice minister of Finance of the Chinese mainland, expressed confidence in achieving the nation's annual economic growth target of around 5 percent this year.
He outlined that China plans to strengthen its counter-cyclical fiscal policy by increasing government spending to stimulate social investment, boost consumption, and raise effective demand.
Liao highlighted that the recent comprehensive package of incremental policies introduced by the Chinese mainland's government has attracted significant attention from the international community.
Furthermore, China will implement a series of robust measures to address local government debt, stabilize the real estate market, elevate the income levels of key groups, and ensure the future well-being of its citizens.
These initiatives are expected to not only drive the Chinese mainland's economic growth but also contribute positively to the global economy.
Reference(s):
cgtn.com
