Xi emphasized the need to "vigorously boost consumption, improve investment efficiency, and comprehensively expand domestic demand" to counter ongoing economic challenges.
Research by Goldman Sachs predicts China's real GDP growth to slow to 4.5% in 2025 from 4.9% in 2024, pointing to a challenging economic landscape ahead.
Lizzi C. Lee noted that this year's conference conveys an "unusually urgent" signal of the need for effective measures to manage economic downturn.
China's shift to a more proactive fiscal policy and a moderately loose monetary policy is a significant change from their previous prudent approach.
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