Speaking Tuesday at the opening ceremony of a major international trade show in Shanghai, Li said: "We are fully confident in the realisation of this year's goals and the development of China's economy in the future." The comments reflect the government's optimistic stance amidst economic challenges, emphasizing confidence in achieving the growth target despite recent slowdowns.
The premier suggested that authorities still had room to manoeuvre when it came to further measures. "There is a relatively large space for financial and monetary policies, and the policy tools are even more abundant," he stated, indicating potential for additional stimulus to boost economic activity.
Observers hope a specific figure for the stimulus could emerge from this week's meeting of the Standing Committee of the National People's Congress (NPC). The lack of detail surrounding recent measures has led to investor uncertainty, despite initial enthusiasm for government announcements aimed at stimulating the economy.
Recent indicators, such as the expansion of China's manufacturing output for the first time in six months and an acceleration in the services sector, suggest glimmers of hope for economic recovery. However, ongoing challenges such as escalating trade tensions remain a concern for sustained growth.
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