China's economic leaders are doubling down on their 2024 growth target of ~5%, calling it an 'achievable mission' through strategic reforms and innovation-driven policies. At a high-profile press conference during the Two Sessions, National Development and Reform Commission head Zheng Shanjie spotlighted new ultra-long-term government bonds designed to fuel tech innovation and sustainable development—think of it as China's economic 'level-up' strategy.
Fiscal Firepower & Market Mojo
Central bank governor Pan Gongsheng teased a 'rich toolbox' of monetary policies to balance growth and risk, while Finance Minister Lan Fo'an promised turbocharged tax cuts for tech and manufacturing sectors. Meanwhile, securities watchdog chief Wu Qing vowed to protect small investors like your favorite underdog movie hero: 'Fair markets are non-negotiable.'
Global Trade Glow-Up
Despite global headwinds, Commerce Minister Wang Wentao reported rising exports and a shift toward high-value products—China's economic engines are firing up! With youth-focused investments in smart cities and green energy, this isn't your grandparents' GDP game.
Reference(s):
cgtn.com