BEIJING: The vice head of China's state planner said on Monday he was "fully confident" the world's second-largest economy would achieve its economic growth target of around 5% for 2025, pledging new policies to be rolled out over the second quarter.
Zhao Chenxin, vice chair of the National Development and Reform Commission, told a press conference that the foundation for China's economic recovery needed to be consolidated as external impacts rise, and said that further policies would be implemented based on changes in the economic situation.
While U.S. President Donald Trump's tariffs have darkened China's economic outlook, Chinese policymakers remain confident that the White House will relent first, analysts say. This would allow Beijing to proceed with its planned stimulus measures intended for release throughout the remainder of the year.
China's deputy central bank governor Zou Lan, speaking at the same press conference, affirmed the continuation of a moderately loose monetary policy and increased support for the economy, while maintaining yuan stability.
The impact on China's foreign assets from volatility in the U.S. bond market is limited, Zou said, adding that the People's Bank of China would stabilise market expectations on the yuan and deal with market-distorting behaviours. - Reuters
