The Chinese economy continued to recover and improve in 2024, achieving the annual economic growth target of 5%, and in particular, since late September of last year, the Chinese government has introduced a package of incremental policies that effectively boosted social confidence and led to a clear economic upturn, said Pan Gongsheng, Governor of the People’s Bank of China, at the Emerging Market Economies Symposium co-hosted by the International Monetary Fund and Saudi Arabia.
Moving forward, the Chinese government will implement a more proactive fiscal policy and a moderately accommodative monetary policy to strengthen counter-cyclical adjustments of macroeconomic policies, continue to promote the transformation of China’s economic growth model, and consolidate and enhance the positive momentum of economic recovery, Pan said.