Ample space in macro policies to support 2025 growth targets: China's top economic planner

With ample room for macro policies, richer macro-control tools can provide robust support for achieving the 2025 economic growth target, said Yuan Da, deputy secretary-general of the National Development and Reform Commission, the country's top economic planner, at a press conference on Friday.

Moving forward, China will prioritize boosting domestic demand across the board. The advantages of China's vast market remain, and the consumer market is expected to see continued growth, said Yuan. The country will significantly increase the issuance of ultra-long special treasury bonds to support the implementation of large-scale equipment upgrades and consumer goods trade-in programs, as well as the construction of projects aimed at implementing major national strategies and building security capacity in critical areas.

The top planner has also pledged to step up efforts in high-level opening-up. China is determined to continue opening up its economy to the world in 2025, said NDRC deputy director Zhao Chenxin. Zhao added that China plans to encourage greater foreign investment in advanced manufacturing, modern services, high-tech, energy saving and environmental protection.

Greater efforts will also be directed toward stabilizing the property market, revitalizing the capital market, advancing the upgrade of major industries and fostering emerging and future industries, Yuan emphasized.

China's economy has a stable foundation, multiple advantages, strong resilience and great potential. Further deepening of reforms, development of new quality productive forces, and boosting the domestic circulation of the economy will stimulate the internal momentum of economic development, said Yuan.

China is fully confident in promoting continued economic rebound in 2025 and completing the goals and tasks of the 14th Five-Year Plan with high quality, he added.

(With input from Xinhua and AFP)