CBN丨China confident in achieving healthy economic growth in 2025- NDRC
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Here’swhatyouneedtoknowaboutChinainthepast24hours
Chinaisconfidentandalsocapableofminimizingtheuncertaintyandadverseimpactsofexternalshocks,promotingsustainedandhealthyeconomicgrowthasexistingstimuluspoliciestakeeffect,tobereinforcedbynewpro-growthmeasuresbeingplannedbythegovernment,accordingtotheNationalDevelopmentandReformCommission(NDRC),thecountry’seconomicplanner,onThursday.
TheremarkscameinresponsetoamediaquestionaboutassessingtheimpactofexternalfactorssuchassluggishglobalgrowthonChina'seconomicoutlook,giventheOECD'sloweredglobalgrowthforecastandalatestwarningfromJPMorganChase’sCEOaboutUSbondmarketrisks.
Facingamorecomplexandsevereexternalenvironment,Chinahasadheredtosteadyeconomicprogress,aidedbythegovernment’smoreproactivepolicies,saidLiChao,spokespersonfortheNDRC.Shenotedthattheeconomyhasgenerallyoperatedsmoothly,withacceleratedeffortstostabilizeemployment.
WhiletheWorldBankandOECDcutglobalgrowthforecasts,China'sgrowthoutlookremainsstable,withDeutscheBank,MorganStanley,andGoldmanSachsraisingtheirforecastsforChina,Lisaid.Forexample,DeutscheBankanalystsrecentlyraisedChina'sGDPforecastby0.2percentagepointsto4.7percentgrowthforthefullyearof2025.
Speakingontheexpandedpolicysupportforequipmentupgradeandconsumergoodstrade-inprograms,Linotedthatultra-longspecialtreasurybondsprovideCNY200billioninsupportforequipmentupgrades.
ThefirstbatchofapproximatelyCNY173billionhasbeenallocatedtoaround7,500projectsacross16sectors,andthesecondbatchiscurrentlyundergoingprojectreviewandselection.
Forconsumergoodstrade-in,CNY300billioninultra-longspecialtreasurybondshavebeenallocated,withthefirsttwobatchestotalingCNY162billiondisbursedasplannedinJanuaryandApril.
Tostabilizeemployment,LisaidthattheNDRCandtheMinistryofFinanceallocatedCNY16.5billionin2025centralspecialinvestmentsforthework-reliefprograms,supportingover3,900projectsnationwidewhichareexpectedtoaddressemploymentandincomeissuesfor380,000peopleindifficulty.
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