SHENZHEN - China will allow more government spending and step up efforts to get its people to spend more in a bid to boost its economy in 2025, as the prospect of a heightened trade war with the US looms.
The country will increase its budget deficit, issue more bonds and cut interest rates, state media reported as the country's leaders concluded an annual meeting on Dec 12 to set the economic agenda for the year ahead.
The meeting also listed, at the top of policymakers' tasks for 2025, the need to "vigorously boost consumption", according to a readout from national broadcaster CCTV on the Central Economic Work Conference held in Beijing from Dec 11 to 12.
The task of boosting consumption was listed second in 2024, behind innovation in science and technology.
The meeting, attended by senior party and government officials, including President Xi Jinping, said China should maintain stable growth, employment and prices in the year ahead, while helping people's incomes grow in step with the economy.
Diese Geschichte stammt aus der December 13, 2024-Ausgabe von The Straits Times.
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