New Business
China has more tools in ‘reserve’ to face economic headwinds amid Trump threats
Beijing has pledged to deploy more fiscal and monetary tools if need be, underlining its “unwavering” resolve to ensure growth as China tackles an intensifying trade war with the United States and a host of economic challenges at home.
China’s external risks are manageable, top economic officials said as they sent out a determined message at a press briefing on Thursday, as part of the annual “two sessions” policymaking meetings.
The heads of the National Development and Reform Commission (NDRC) – China’s top economic planner, the ministries of finance and commerce, the central bank and the main securities regulator – all addressed the media.
Finance Minister Lan Foan said fiscal authorities had “set aside sufficient reserve tools and policy space to cope with possible internal and external uncertainties”.
The government was ready to further expand supportive measures if necessary, he added.
More support would also be provided to boost domestic consumption and technological innovation, twin focuses for Beijing as it seeks to meet a growth target of “around 5 per cent” this year, the same as in 2024, the press conference heard.
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