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Beijing signals new stimulus to support 5% growth goal
China is entering a pivotal phase, with new economic stimulus measures on the horizon. According to senior officials, Beijing is committed to reaching its official 5% GDP growth target for 2025 even as global pressures mount.
On April 28, Zhao Chenxin, Vice Chairman of the National Development and Reform Commission, announced that the government would implement additional support measures to stabilize employment and key economic indicators, while still promoting long-term development. Zhao expressed confidence that China had sufficient reserves and capacity to achieve its growth goals.
His view was echoed by Zou Lan, Deputy Governor of the People’s Bank of China (PBOC), who stated that the country would maintain a moderately accommodative policy stance to support economic growth, while also ensuring yuan stability. Although recent media reports suggested a possible rate cut, the PBOC has already reduced its benchmark lending rate to historic lows and is not planning another cut in the near term.
Analysts note that market sentiment remains optimistic regarding the resilience of China’s economy, despite the impact of the ongoing tariff war with the United States. High-level policymakers and market experts believe Beijing is well-positioned to weather external shocks.
Earlier this month, US President Donald Trump raised tariffs on Chinese goods to a staggering 245%, prompting a retaliatory 125% tariff from Beijing. While the exchange of duties has strained China’s economic outlook, authorities are focused on countering inflation and slower growth.
Published 01 May 2025
© InstaFintech Group
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© InstaFintech Group
