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CN People's Daily Article: Immense Incremental Policies 'On the Way'; Stronger Target to Realize 5% Econ Growth
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An article by Jin Sheping ran in the People's Daily wrote that confidence is growing in the mainland China's ability to achieve the expected economic growth target of around 5%. At the press conference for the “Third Quarter Report”, the National Bureau of Statistics (NBS) said that, looking only at the YoY growth rate of GDP of mainland China, it has already been positive for nine straight quarters: 5.3% in 1Q24, 4.7% in 2Q24, and 4.6% in 3Q24. “Stability” and “Progression” remain the main tones of mainland China economy, he said. The four major macro indicators, namely growth, employment, inflation and the balance of payments, show that the economy is broadly stable with advancement, which lays a positive foundation for the resilience of macro economy of the mainland. Fan Zhiyong, a professor at the School of Economics at Renmin University of China, was quoted as saying that a large number of incremental policies are “on the way”. The person in charge of the National Development and Reform Commission (NDRC) said that incremental policy measures are being introduced and implemented one after the other, whereas new incremental policies are also being studied. Huang Hanquan, President of the Academy of Macroeconomic Research (AMR), pointed out that as the effects of the policies continue to manifest, the economy will demonstrate uptrend in the beginning of the year, downtrend in the middle, and uptick towards the end of the year. AAStocks Financial News |
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