China’s top economic officials remain optimistic about achieving the annual target of around 5% economic growth, citing strong early-year indicators like a 10% rise in exports and a 30% surge in bank loans. The focus is on supporting innovation, urban-rural integration, and energy security. Premier Li Qiang announced the growth target, acknowledging it as a challenge. Beijing plans to use policy tools like reserve ratio adjustments and issuing special bonds to bolster growth. Despite global trade uncertainties, China aims to promote exports of higher-value products and stimulate consumer spending through tax incentives. Officials also noted occasional market intervention to address irrational volatility.
China Aims for 5% Growth Despite Challenges, Plans Policy Tools for Economic Boost
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