November 19, 2024 06:02 GMT
MNI BRIEF: China To Enhance Policy Support In 2025: NDRC
MNI (BEIJING)
He said 2025 marked the conclusion of the 14th Five-Year Plan, with a series of major strategic tasks, significant reform initiatives, and major projects already being fully implemented. Solid domestic demand exists as every one percentage point increase in urbanisation can generate about CNY1 trillion in new investment demand and over CNY200 billion in consumption, Li continued. (See MNI:China To Raise 2025 Deficit Ratio, More Special Bonds Eyed）
With the continued effectiveness of existing policies and the implementation of new measures, economic performance in November and December is expected to maintain upward momentum, he added. The total transaction volume of newly built and second-hand residential properties nationwide increased by 3.9% y/y, marking its first growth after eight consecutive months of decline, he added.
China will use macroeconomic policy to support growth strongly next year, said Li Chao, National Development and Reform Commission spokesperson at a briefing Tuesday, adding the country had a rich reserve of tools to conduct precise and counter-cyclical adjustments.
He said 2025 marked the conclusion of the 14th Five-Year Plan, with a series of major strategic tasks, significant reform initiatives, and major projects already being fully implemented. Solid domestic demand exists as every one percentage point increase in urbanisation can generate about CNY1 trillion in new investment demand and over CNY200 billion in consumption, Li continued. (See MNI:China To Raise 2025 Deficit Ratio, More Special Bonds Eyed）
With the continued effectiveness of existing policies and the implementation of new measures, economic performance in November and December is expected to maintain upward momentum, he added. The total transaction volume of newly built and second-hand residential properties nationwide increased by 3.9% y/y, marking its first growth after eight consecutive months of decline, he added.
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