China is stepping up its game to give its economy a big push! 🚀 On Tuesday, Zheng Shanjie, the chairman of the National Development and Reform Commission, announced a series of fresh policies aimed at promoting economic growth.
Facing some economic challenges, China plans to amp up its macroeconomic policies. They’ve set aside a whopping 700 billion yuan to invest in major national projects! 💰 And guess what? Next year, they’re planning to issue ultra-long-term special bonds to keep the momentum going.
Boosting domestic demand is top of the list! 🇨🇳 The government wants to improve people’s livelihoods and fire up consumption. How? By increasing incomes for middle- and low-income folks, upgrading big equipment to enhance commodity consumption, and promoting services like elder care and childcare. Plus, they're all about new consumption trends like digital and green products. 🌱💻
Zheng also gave a shout-out to businesses, acknowledging the hurdles they’re facing and promising more support. The plan is to create a friendlier business environment, ensuring that enterprises can thrive.
The real estate market has been a bit shaky, but don’t worry! 🏡 Comprehensive measures are on the way to stabilize things. Plus, strategies are being put in place to revitalize the capital market, boost investor confidence, and address recent fluctuations.
Zheng highlighted that despite challenges, China's economy is holding steady, with new growth drivers forming rapidly. The fundamentals are strong, with vast market potential and resilience. 💪 He’s confident that China will hit its annual economic goals and keep up the sustainable, healthy development moving forward.
Just before the National Day holiday, China unveiled a slew of policies, including monetary easing, lowering mortgage rates, and easing house-buying restrictions. These moves have already led to a spike in second-hand home transactions and gave the stock market a nice boost after the holiday! 📈
Reference(s):
China introduces package of incremental policies to boost economy
cgtn.com
