National Development and Reform Commission Highlights Importance of Urbanization for Agricultural Migrant Population
As China aims to achieve the goals and tasks set out in the 14th Five-Year Plan, the National Development and Reform Commission (NDRC) has emphasized the need to prioritize the urbanization of the agricultural migrant population in the next phase of development.
The latest first quarterly report on China’s economy, released recently, indicates positive growth trends in the first quarter of the year. The GDP saw a year-on-year increase of 5.3%, with stable growth in major economic indicators. Despite the progress, challenges and issues remain, requiring careful consideration and strategic planning.
In a recent interview program called “China Economic Roundtable,” experts from the NDRC, National Bureau of Statistics, China Center for International Economic Exchanges, and Chongqing Huasen Pharmaceutical Co., Ltd., discussed the economic situation in the first quarter and future growth prospects.
The experts noted a stable start to the year, with economic growth showing positive signs. Various indicators, such as urban unemployment rates, consumer price index, and fixed asset investment, point towards a stable and improving economy. The emphasis was also placed on the quality of growth, with an increase in high-tech manufacturing and service sector growth.
While the economy has shown resilience and stability, challenges like insufficient effective demand and weak consumer confidence need to be addressed. Experts discussed the importance of promoting consumption through various measures like increasing employment, improving income levels, and enhancing consumer confidence.
The focus on innovation and transformation was also highlighted, with emphasis on boosting enterprise development through policies supporting technological innovation and funding mechanisms. The experts stressed the need for effective policy implementation to drive economic growth and stability.
Looking ahead, experts expressed optimism about China’s economic growth prospects, with an expected annual growth target of around 5% in 2024. Measures to expand domestic demand, promote consumption, and accelerate industrialization and urbanization were considered crucial for long-term development.
The NDRC reiterated the importance of prioritizing urbanization for agricultural migrant workers, enhancing urban construction, and promoting new industrialized towns to unleash domestic demand potential and improve quality of life for the population.
Overall, while challenges and uncertainties persist, experts believe that China’s economy is on a path of steady improvement, driven by reforms, innovation, and strategic planning. With a focus on sustainable growth and development, China remains confident in its ability to weather economic storms and emerge stronger in the long run.