Quotes
China has also introduced measures to support consumption, which certainly has potential and will become an important driver of China's economic growth,
Hajba said,
China's economy rebounded more than we had anticipated in the fourth quarter on the back of a step-up in fiscal stimulus and strong export performance. The acceleration in the final quarter of the year helped China achieve its 5 percent target for the full year 2024, coming in slightly ahead of our expectations of 4.8 percent,
Jeremy Zook, lead analyst for China at US-based Fitch Ratings, said in a note sent to the Global TimesThis has created positive spillovers to industrial production activity, which performed well in December,
Zook said
With recent policy signals remaining decidedly dovish and authorities recognizing the importance of finding a sustainable growth engine, the coming months will likely feature more consumption-oriented stimulus."
Louise Loo, lead economist at British think tank Oxford Economics, saidChina's GDP for the first time surpassed 130 trillion yuan last year, maintaining its position as the world's second-largest economy,
Kang Yi, head of the NBS, said at a news conference in Beijing on FridayUltimately, the ability of fiscal policy in sustainably boosting domestic demand … will likely depend on whether it is effectively targeted to spur a recovery in household confidence,
he addedChinese policymakers have introduced a series of incremental policies since September, and key economic indicators have gradually stabilized after several months of adjustments. Following that, more measures have been launched intensively at the beginning of 2025, and the continuity of these policies has positive significance for boosting market confidence and promoting high-quality economic development,
Yao Jingyuan, a special researcher of the Counselors' Office of the State Council, told the Global TimesWe must be aware that the adverse effects brought by external environment are increasing, the domestic demands are insufficient."
The statistics bureau, however, cautioned
In retrospect, the policy pivot last September was meant to defend the GDP target (of around 5%),
Larry Hu, chief China economist at Macquarie Group, wrote in a research note on Wednesday
China's extensive experience in macro control, along with the willingness of our enterprises to pioneer and the hardworking nature and wisdom of our people, have together strengthened our confidence in promoting high-quality development and addressing risks and challenges,
he said
China's industrial structure has continued to optimize and to be upgraded,
Kang said,Again, repeatedly, (it might be) the sixth edition of the ‘China collapse’ theory in the last 40 years, given that China has grown so miraculously. I think it is a wrong way to look at China. The potential is there and it’s far from reaching its potential,
she said, highlightingWe should never underestimate the challenges and headwinds,
the ambassador added when projecting into 2025,There is often disconnect between external views and what is happening within China, in the sense that expectations about the economy in China last year are probably more cautious globally than they needed to be,
he told China DailyThese above achievements have once again exceeded outside forecasts and proved some people in the West wrong,
he saidThe key phrases will be proactive fiscal policy and moderately easy monetary policy,
he saidIn terms of macroeconomic policy, the key issue is to give a boost to domestic demands…Those developments have been touched on by the Central Economic Work Conference in December and the third plenum (The third plenary session of the 20th Communist Party of China Central Committee), but they take time to feed through,
he saidChina’s GDP is expected to exceed 130 trillion yuan ($18 trillion) in 2024 and the annual growth rate is forecast to be around 5 percent. China remains the biggest engine driving the world economy,
he said