China is charting a robust path for economic growth in 2025, according to the recent Central Economic Work Conference held in Beijing. Amidst escalating external pressures and internal challenges, Chinese leaders emphasized the nation's resilience and commitment to sustaining steady economic progress.
General Secretary Xi Jinping outlined the priorities, focusing on proactive macro policies, expanding domestic demand, and integrating scientific and technological advancements with industrial innovation. These measures aim to bolster consumption and investment efficiency, ensuring a stable foundation for continued growth.
The conference also highlighted a pivotal shift in monetary policy to a \"moderately loose\" stance, the first since 2011. This change includes lowering reserve requirement ratios and interest rates as necessary to maintain ample liquidity in the market.
Fiscal strategies will see an increase in deficit ratios and the issuance of ultra-long special treasury bonds and local government special-purpose bonds, leveraging China's low government debt-to-GDP ratio to support economic expansion.
Additionally, China is committed to high-level opening up, with new systems for an open economy and the introduction of zero-tariff treatment for all tariff lines to least developed countries with diplomatic relations, promoting inclusive growth and shared opportunities.
With these comprehensive strategies, China aims to secure sustained economic recovery and maintain its position as one of the world's largest and most dynamic markets.
Reference(s):
China maps out 2025 economic plans, vows more proactive macro policies
cgtn.com
