China’s economy is revving up like a high-speed train, with officials doubling down on optimism for its long-term prospects. Lou Qinjian, spokesperson for the National People’s Congress (NPC), highlighted the country’s robust economic resilience at a Tuesday press conference in Beijing, held ahead of this week’s key legislative session.
Resilient Growth in 2024
Despite global challenges, China’s GDP grew by 5% in 2024, topping $17.8 trillion. Lou credited the nation’s ultra-large market, industrial strength, and tech-driven reforms for fueling this momentum. 'Think of China’s economy as a marathon runner with unlimited stamina,' he quipped, referencing upcoming policies to boost innovation and global partnerships.
Boosting the Private Sector
A new Private Economy Promotion Law is in the works to supercharge entrepreneurship. The draft law aims to create a 'level playing field' for businesses, aligning with the CPC’s reforms to open markets further. Lou emphasized 'two unwavering commitments' – supporting both state and private enterprises – to ensure everyone thrives.
With mega-projects and green energy investments on the horizon, China’s economic playbook is ready to level up. Stay tuned for more updates as the NPC session unfolds!
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Lou Qinjian, spokesperson for the National People’s Congress (NPC), highlighted the country’s robust economic resilience at a Tuesday press conference in Beijing, held ahead of this week’s key legislative session.
Lou credited the nation’s ultra-large market, industrial strength, and tech-driven reforms for fueling this momentum. 'Think of China’s economy as a marathon runner with unlimited stamina,' he quipped, referencing upcoming policies to boost innovation and global partnerships.
The draft law aims to create a 'level playing field' for businesses, aligning with the CPC’s reforms to open markets further. Lou emphasized 'two unwavering commitments' – supporting both state and private enterprises – to ensure everyone thrives.
Stay tuned for more updates as the NPC session unfolds!
, Says Beijing…
