China economy to top almost $30 trillion, planner says
The size of the Chinese economy will exceed 140 trillion Yuan ($ 29.9 trillion) in 2025, the state planner says policy makers are trying to direct the country beyond the current five -year policy plan.
The world’s second largest economy is struggling with a long -term trade war with the United States and lasting deflationist pressures.
“When we look at the 14th fifth -year plan period, the difficulties encountered were more than expected, but the achievements exceeded expectations,” he said.
Zheng emphasized the progress within the scope of 2021-25 five-year plan, which focuses on basic priorities such as economic development, technological innovation, green transformation and improvements in people’s livelihoods.
In the 14th five-year plan published in 2021, China has reduced a certain gross domestic product growth for 2021-25, but continued to set annual growth targets during the plan period, and its 2025 target was approximately five percent.
Official data showed that despite the effect of the economy’s COVİD-19, an average of 5.4 percent annually from 2021 to 2024.
Zheng said that China has established the world’s largest and most comprehensive production sector, strengthens industrial and supply chains, and increases the confidence in the country’s ability to deal with various risks and difficulties.
Zheng, foreign technology pavements will only strengthen China’s self -confidence and innovative capacity, he said.
In the briefing, the Chinese leaders still made suggestions for the plan that would summarize national priorities by 2030, and did not present any details about the 15th Five -Year Plan.
As Chinese government consultants threaten the appearance of trade tensions and deflation, they call for the contribution of the household sector to wider economic growth to make Beijing a priority in the next five -year policy plan.
Australian Associated Press is a beating heart of Australian news. AAP has been the only independent national Newswire of Australia and has been providing reliable and fast news content to the media industry, the government and the corporate sector for 85 years. We inform Australia.
