Xi Jinping Announces China's 2024 GDP Growth Target of Around 5%, Promises Proactive Policies in 2025

Dec 31, 2024, 12:30 PM

Chinese President Xi Jinping announced that China's GDP is expected to grow around 5% in 2024, signaling that the world's second-largest economy is on track to meet its official target. Xi made these remarks at a New Year's event, emphasizing that the economy has been 'overall stable and progressing amid stability.' He also indicated that support for the economy would continue into 2025, with a commitment to implementing more proactive macroeconomic policies as part of the 14th Five-Year Plan. Despite external uncertainties and challenges in shifting to new growth drivers, Xi called for confidence in overcoming these hurdles. Additionally, he reiterated the Communist Party's stance on Taiwan, asserting that no one can stop China's reunification efforts. Xi also mentioned a shift to a 'moderately loose' policy stance to support economic growth.