日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business

'Forceful' steps to aid growth target

Policy measures mitigate short-term impact of US tariffs, expert says

By OUYANG SHIJIA,LI XIANG and ZHOU LANXU | China Daily | Updated: 2025-05-09 00:00
Share
Share - WeChat

China's economy is well-positioned to withstand the headwinds from the United States' unwarranted tariff policy and maintain its 2025 growth momentum with targeted macro policy support, said a senior economist.

Zhang Jun, chief economist at China Galaxy Securities, said he expects China's economic trajectory in 2025 to resemble a U-shape, with a slowdown in the second or third quarter due to trade headwinds, but a steady recovery driven by fresh stimulus rolled out after a key Party leadership meeting held in late April.

"As long as macro policies continue to be forceful and new measures are implemented quickly, achieving the preset annual growth target of around 5 percent remains possible," he said during a recent exclusive interview with China Daily.

Citing the meeting of the Political Bureau of the Communist Party of China Central Committee, Zhang said the tone-setting meeting came at a critical time as US tariff policies are expected to weigh on China's exports and the broader economy starting from the second quarter, indicating that policymakers are taking a forward-looking, effective and targeted macro policy approach to stabilize overall growth while mitigating external shocks.

Looking ahead, he said concrete steps are expected to follow to stabilize growth, employment and expectations while expanding domestic demand, which will help to offset the impact of US tariff hikes.

For the previously announced government bonds in March, the country is expected to accelerate their issuance in the second quarter, and expedite the utilization of these funds to support concrete projects, said Zhang.

This year, a total of 21 tranches of ultra-long-term special treasury bonds — totaling 1.3 trillion yuan ($179.66 billion), up 300 billion yuan from last year, and with maturities of 20, 30 and 50 years — will be issued from April 24 to Oct 10, according to the Ministry of Finance. "I believe there remains room for additional issuance of ultra-long-term special treasury bonds this year," said Zhang.

Meanwhile, he noted the country will also ramp up fiscal spending for key areas such as healthcare, education, elderly care, and boosting fertility.

On the monetary front, the People's Bank of China, the country's central bank, announced on Wednesday that it will cut the seven-day reverse repos — a key policy benchmark for interest rates — by 10 basis points to 1.4 percent from 1.5 percent, effective on Thursday. And the reserve requirement ratio will be reduced by 0.5 percentage point, unleashing liquidity of around 1 trillion yuan. The cut will take effect on May 15.

"The mechanical action of rate cuts on confidence effects may still well be beneficial, while the bigger 50bp cut to the RRR underscores the supporting role of the central bank's liquidity operations in implementing the government's fiscal stimulus agenda," said Louise Loo, lead economist at British think tank Oxford Economics.

Looking forward, though US tariff hikes may pose short-term pain, Zhang argued that could serve as a catalyst for China's long-term upgrading. "Tariffs are a short-term shock but also an opportunity to push forward China's transformation toward advanced productivity."

 

Zhang Jun

 

 

Today's Top News

Editor's picks

Most Viewed

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 男女真实有遮挡xx00动态图 | 毛片搜索 | 加勒比精品久久一区二区三区 | www.蜜臀| 黄色一级毛片 | 欧美一级爆毛片 | 亚洲精品久| 欧美视频国产 | 色综合久久天天综合观看 | 国产片翁熄系列乱在线视频 | 亚洲免费网站 | 欧美精品在线免费观看 | 免费人成网ww44kk44 | 久久国产精品亚洲 | 欧美日韩一区二区三区在线观看 | 美女扒开内裤让男人桶 | 亚洲高清在线观看看片 | 中文字幕亚洲精品 | 天堂在线91 | 9久9久女女免费精品视频在线观看 | 日韩欧美视频一区二区三区 | 日韩aⅴ一区二区三区 | 日韩欧美一区二区三区久久 | 婷婷丁香社区 | 国产精品v欧美精品∨日韩 一级免费黄色免费片 | 久久亚洲视频 | 91视频8mav| 亚洲日本视频在线 | 老司机福利在线视频 | 精品一区二区三区网站 | 日日夜夜天天人人 | 久久久久久亚洲精品 | 99久久99久久 | 综合久久99| 亚洲一区二区三 | 久久99精品久久久97夜夜嗨 | 亚洲区一| 男女啪啪免费视频 | 欧美一区二区三区不卡免费 | 精品a级片| saoav|