Tue Dec 31 06:54:06 UTC 2024: ## Xi Jinping Calls for Proactive Economic Policies in China
**Beijing, Dec 31, 2024** – Chinese President Xi Jinping has urged the implementation of more proactive macroeconomic policies to boost the nation’s economy in 2025. Addressing the National Committee of the Chinese People’s Political Consultative Conference on New Year’s Eve, Xi emphasized the need for deeper reforms and greater openness. China’s economy has struggled this year, hampered by a property market crisis, weak consumer spending, and high government debt. While Beijing has introduced measures such as interest rate cuts and relaxed homebuying restrictions, economists are calling for more direct fiscal stimulus focused on domestic consumption. Despite aiming for a 5% growth target, many economists predict China will fall short, with the International Monetary Fund forecasting growth of 4.8% in 2024 and 4.5% in 2025. Xi, however, reiterated his confidence in achieving approximately 5% annual GDP growth.
First Piper 