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China vows a ‘more proactive’ approach to economic policies in 2025
China will undertake a “more proactive” fiscal policy and a “moderately loose” monetary policy. This marks a significant shift
China takes a more proactive approach to local government debt
In this way, by 2028, the total amount of hidden debt can be reduced to just 2.3 trillion yuan (US$320b), or about 16 percent of its current level
China needs a more targeted strategy to battle unemployment
Universities are encouraged to expand enrollment in the sciences, engineering, agriculture and medical programs, fields that are deemed more useful for the development of new quality productive forces
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China’s trade sector shows resilience and vitality
As China upgrades its industries, the trade relationship with developing countries has become more complimentary, while relations with developed countries have become more competitive
China faces tougher challenges in achieving its economic goals in the second half of 2024
The meeting identified two policy priorities: boosting consumption and promoting innovation and future industries, to meet both short-and long-term economic goals
China needs to upgrade its market economy to tackle rising internal and external challenges
China should establish an efficient macroeconomic governance system that can coordinate long-term and short-term goals and integrate fiscal, monetary, industrial, technological and social policies