Chinese economist calls for 5% GDP target in 2025 as show of confidence
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Wang Yiming, former deputy director of the Development Research Centre of the State Council, suggests China should set a GDP growth target of around 5% for 2025, maintaining the same benchmark as 2024; he advocates for increasing the fiscal deficit ratio above 3.8% to allow for more stimulus; this comes amid challenges such as sluggish domestic demand and a potential contraction in exports due to trade tensions with the US; a report from China Finance 40 Forum indicates a need for broad fiscal expenditures to increase by 2.6 trillion yuan (US$359 billion); Bank of China analysts support Wang's projection, stating that existing and new stimulus measures are crucial for economic recovery.
#China #Gdp #Economy #WangYiming #FiscalPolicy #Stimulus #TradeTensions #BankOfChina #2025 #EconomicGrowth
https://www.scmp.com/economy/china-economy/article/3288956/chinese-economist-calls-confidence-says-gdp-target-should-remain-5-2025?module=around_scmp&pgtype=homepage
South China Morning Post /
npub1x2…knuvq
2024-12-02 07:49:04
Author Public Key
npub1x2q0x7w5tqx0x3j9tdvkvqmetarpr8axhpjq7qw5xxrcysdwtrzssknuvqPublished at
2024-12-02 07:49:04Event JSON
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"content": "Chinese economist calls for 5% GDP target in 2025 as show of confidence\n==========\n\nWang Yiming, former deputy director of the Development Research Centre of the State Council, suggests China should set a GDP growth target of around 5% for 2025, maintaining the same benchmark as 2024; he advocates for increasing the fiscal deficit ratio above 3.8% to allow for more stimulus; this comes amid challenges such as sluggish domestic demand and a potential contraction in exports due to trade tensions with the US; a report from China Finance 40 Forum indicates a need for broad fiscal expenditures to increase by 2.6 trillion yuan (US$359 billion); Bank of China analysts support Wang's projection, stating that existing and new stimulus measures are crucial for economic recovery.\n\n#China #Gdp #Economy #WangYiming #FiscalPolicy #Stimulus #TradeTensions #BankOfChina #2025 #EconomicGrowth\n\nhttps://www.scmp.com/economy/china-economy/article/3288956/chinese-economist-calls-confidence-says-gdp-target-should-remain-5-2025?module=around_scmp\u0026pgtype=homepage",
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