China’s economy is anticipated to grow by approximately 5 percent in 2024, contributing nearly 30 percent to global economic expansion, according to Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs.
Han made these comments during an annual economic conference organized by the China Centre for International Economic Exchanges.
WAM referenced a report from The Global Times, which noted that the official emphasized the substantial progress the Chinese economy has made this year and its path toward fulfilling its key economic and social development goals.
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He highlighted that employment levels, price stability, and the international balance of payments have remained steady, with foreign exchange reserves consistently above $3.2 trillion.
Looking ahead to 2025, Han indicated that China will adopt more proactive and effective macroeconomic policies, which will include a more aggressive fiscal policy and a moderately loose monetary stance.
Han also pointed out that risks in critical sectors have been effectively managed, with the real estate market exhibiting positive trends. Since October, both transaction volumes and prices have shown encouraging signs. Furthermore, risks related to local government debt and small to medium-sized financial institutions have been successfully alleviated and managed.
