With the global economy facing some serious storms 🌩️, China is stepping up its game! 💪 The country has been rolling out new policies to pump up domestic demand and boost investment, keeping the economic engine running smoothly. Premier Li Qiang recently rocked the China International Import Expo with confident vibes, assuring everyone that China's GDP goals are on track and the future looks bright! ✨
In the third quarter, China switched things up 🎯, moving from just focusing on investments to a balanced mix of investment and consumption. The goal? To seriously boost domestic demand 🇨🇳🔥. Their game plan includes making macroeconomic policies more effective, giving a push to domestic demand, supporting businesses, stabilizing the real estate market 🏘️, and giving the capital market a fresh lease of life 📈. And guess what? These moves aren't just quick fixes—they're all about long-term, structural changes!
So, is it working? ✅ October's numbers are in, and things are looking up! The manufacturing PMI bounced back to 50.1, showing factories are buzzing again 🏭⚙️. The real estate market is also perking up, with more people taking out housing loans and a 3.9% year-over-year increase in home sales—finally turning around after 8 months 📈. Plus, there's more money flowing around! M2 money supply went up by 7.5%, and social financing increased by a whopping 1.40 trillion yuan ($194 billion). This means businesses are keen to produce, and investors are feeling brave! 💰🔥
So, as the year-end approaches, China's new policies seem to be hitting the right notes 🎶. By boosting confidence and focusing on both consumption and investment, the country is gearing up for a strong finish to the year. Stay tuned to see how this economic journey unfolds! 🌐🚀
Reference(s):
Incremental policies energize China's growth as year-end approaches
cgtn.com
