In a significant move to bolster China’s economy amid rising global uncertainties, Vice Premier Ding Xuexiang announced on Thursday that the government will implement more proactive macroeconomic policies this year. This announcement comes as the country grapples with a slight decline in industrial profits, which fell 0.3% compared to the previous year in the first two months of 2025.
Ding’s remarks reflect a commitment to achieving the full-year growth target for 2025, despite the challenges posed by increasing protectionism and global trade tensions. "The improving trend in China’s economy has become more consolidated," Ding stated, emphasizing the need for strategic policy adjustments to navigate the current landscape.
As part of these proactive measures, Ding indicated that the government would focus on promoting the development of private firms, which are seen as crucial for economic expansion. He also acknowledged the importance of foreign investment, stating, "We welcome foreign companies to invest in China," signaling a more open approach to international business.
The Vice Premier’s comments come at a time when many economists are closely monitoring China's economic indicators. The recent data showing a decline in industrial profits has raised concerns about the overall health of the economy. Experts suggest that this downturn could be linked to broader global economic trends and heightened competition.
Moreover, Ding highlighted the government's intention to study issues concerning foreign companies operating in China, suggesting a willingness to address any barriers that may hinder foreign investment. This approach is expected to foster a more favorable business environment, which could attract more international firms looking to enter the Chinese market.
"We will resolutely oppose protectionism," Ding asserted, reinforcing the government’s stance against trade barriers that could limit economic growth. His comments resonate with the ongoing global discourse on fair trade practices and the need for cooperative economic policies.
Despite the economic challenges, Ding’s optimism about China’s growth trajectory reflects a broader confidence in the country’s ability to adapt and thrive in a complex global economy. As the government rolls out these proactive policies, stakeholders from various sectors are keenly watching for the potential impacts on both domestic and international fronts.
In conclusion, Ding Xuexiang’s announcement marks a pivotal moment for China as it seeks to navigate a turbulent economic landscape. The focus on proactive macro policies, support for private enterprises, and openness to foreign investment could play a crucial role in shaping the country’s economic future.
