Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

China’s Xi pledges more proactive economic policies in 2025

admin by admin
December 31, 2024
in Economy
0
China’s Xi pledges more proactive economic policies in 2025
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter

BEIJING (Reuters) – China’s 2024 gross domestic product (GDP) is expected to exceed 130 trillion yuan ($17.8 trillion), President Xi Jinping said on Tuesday in his New Year’s address, adding that the country would implement more proactive policies to promote growth in 2025.

The world’s second-largest economy has struggled to stage a robust revival this year as a prolonged property market downturn, mounting local government debt and subdued consumer confidence hampered growth.

Exports, a key driver and a bright spot for the economy, could be threatened by potentially higher tariffs once President-elect Donald Trump returns to the White House later in January.

In a televised speech, Xi said China had responded to the impacts of the changing environment at home and abroad and adopted a full range of policies to help it pursue high-quality development in the past year.

Since late September, authorities unleashed a blitz of stimulus measures including broad rate cuts and looser rules around home buying to shore up the property market and domestic demand.

“Current economic operation faces new challenges, including challenges of uncertainties in the external environment and pressure of transformation from old growth drivers to new ones,” Xi said.

“But we can prevail with our hard work. As always, we grow in the wind and rain, and we get stronger through hard times,” he added. “We must be confident.”

In another speech at a New Year event earlier on Tuesday, Xi said China’s GDP is expected to have grown by around 5% this year, suggesting the country is set to meet 2024’s official growth target.

Earlier this month, top leaders pledged a shift to an “appropriately loose” monetary policy in 2025, which would mark the first such easing in 14 years.

They also vowed to spur consumption and increase bond issuance to stimulate growth next year.

Chinese authorities have agreed to issue a record 3 trillion yuan ($411 billion) worth of special treasury bonds in 2025, Reuters reported, citing sources.

The country’s budget deficit is set to rise to 4% of GDP in 2025, sources said separately, while the government plans to maintain a growth target of around 5%.

($1 = 7.2993 Chinese yuan renminbi)

This post appeared first on investing.com

Previous Post

Why has Moldova’s separatist region cut off gas supplies to state institutions?

Next Post

AI boom, Fed rate cuts lift U.S. stocks to new highs in 2024

admin

admin

Next Post
AI boom, Fed rate cuts lift U.S. stocks to new highs in 2024

AI boom, Fed rate cuts lift U.S. stocks to new highs in 2024

Trending News

Bitcoin ETF options launch spurs record inflows

Bitcoin ETF options launch spurs record inflows

December 7, 2024
Lyft shares continue slide after Q4 earnings: here’s why the stock is down 14%

Lyft shares continue slide after Q4 earnings: here’s why the stock is down 14%

February 12, 2025
Nvidia’s investment in SoundHound wasn’t all that significant after all

Nvidia’s investment in SoundHound wasn’t all that significant after all

March 1, 2025
Subscribe to Insightful Word


    Recent News

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    June 5, 2025
    Ripple releases $2.18B in XRP, price dips 2%

    Ripple releases $2.18B in XRP, price dips 2%

    June 5, 2025
    Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    June 5, 2025
    Why Bank of America sees 13% upside on Roblox (RBLX)

    Why Bank of America sees 13% upside on Roblox (RBLX)

    June 5, 2025

    Recent News

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    June 5, 2025
    Ripple releases $2.18B in XRP, price dips 2%

    Ripple releases $2.18B in XRP, price dips 2%

    June 5, 2025

    Latest News

    • ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant
    • Ripple releases $2.18B in XRP, price dips 2%
    • Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.