The Chinese mainland's economy is standing strong on a solid foundation, showcasing impressive resilience and abundant potential, according to Lou Qinjian, spokesperson for the third session of the 14th National People’s Congress (NPC). 📈
During the recent NPC session, which took place from March 5 to 11, Lou highlighted that China implemented a series of incremental policies over the past year, effectively boosting social confidence and successfully achieving its growth target of around 5%. 🎯
Lou emphasized China's super-sized market and complete industrial system, which provide broad opportunities for demand, structural, and momentum upgrades. These factors not only support robust economic development but also offer ample room to navigate various risks and challenges.
\"We are full of confidence in China's economic prospects,\" Lou assured, adding that the NPC will continue to provide legal guarantees to promote high-quality development and high-level opening up. 🌏
Hong Kong and Macao SARs: Key Windows for Opening Up
When discussing the development of the Guangdong-Hong Kong-Macao Greater Bay Area, Lou noted that Hong Kong and Macao have made significant contributions and play irreplaceable roles in China's reform and opening up process.
The Chinese central government has introduced a series of policies to fully support Hong Kong and Macao SARs in participating in the Greater Bay Area's construction. Over the past five years, the area's total economic output has surpassed 14 trillion yuan (about $1.9 trillion), with improved flow of goods, capital, and people. 🚀 The number of visitors to Hong Kong reached 45 million in 2024.
In terms of people's livelihood, Hong Kong has taken multiple measures to increase housing and land supply to address residents' housing challenges. Meanwhile, the establishment of the Macao Medical Center of Peking Union Medical College Hospital has significantly boosted the supply of medical resources in Macao. 🏥
Reference(s):
NPC spokesperson: China's economy resilient with a solid foundation
cgtn.com
