China, the world’s second largest economy, has released its economic plans for 2025.
China has committed to issue more debt and loosen monetary policy to maintain stable economic growth.
#China #Economy #EconomicGrowth
China has committed to issue more debt and loosen monetary policy to maintain stable economic growth.
#China #Economy #EconomicGrowth
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NewsTranscript
00:00Throughout the day all eyes have turned to this tone-setting conference because we know as you just mentioned the decisions reached there
00:07Will hopefully effectively chart the economic policy for the world's second largest economy for the coming year
00:13And here are some of the key takeaways here
00:16First of all Chinese leaders pledged to open the country wider and wider
00:20They emphasize they reiterated the strong commitment to reform and opening up which is in line
00:27With what they did over throughout the year
00:31and
00:32secondly according to a document released
00:35By following the conference the government pledged to increase the budget deficit issue more debt and losing monetary
00:43policy to maintain a stable economic growth rate and the document also said that China is determined to
00:51Complete the tasks set out for
00:542021 to 2025 in a so-called high-quality way and when it comes to this year's economic performance
01:00The policymakers said that the national targets for social and economic development would be reached soon
01:06Which referred to the 5% growth target and we know that over the last year
01:11The country has been making boosting consumption a top priority
01:16So no wonder the demand for 2025 has been a focus during the conference
01:22according to the document that campaigns to boost consumption will further be launched next year and that the investment will be leveraged through
01:31government spending and also the leaders promised more efforts to further stabilize the stock market and to boost its
01:39property market with more policies expected to
01:43You know in addition to those coming into effect this November including the deep tax cut and relaxation in home buying restrictions
01:52Etc. And also during the conference
01:55Beijing sets target for the economic growth and the budget deficit the debt issuance and other
02:02variables for the year ahead, but the targets are agreed at the meeting, but they won't be officially released until
02:07the annual parliament meeting in next March