Five key leaders from the National Development and Reform Commission, the Ministry of Finance, the Ministry of Commerce, the People’s Bank of China, and the China Securities Regulatory Commission held a press conference at the Second Session of the 14th National People’s Congress to discuss hot economic topics in China.
During the nearly two and a half hours of questioning and answering, the leaders addressed various issues related to China’s economic trend, fiscal policies, promotion of consumption, monetary policies, and capital market supervision.
National Development and Reform Commission director Zheng Shanjie highlighted the stability, progress, and quality indicators of China’s economic development in 2023. He emphasized the importance of fostering effective investment, accelerating urbanization, and promoting sustained economic recovery.
Minister of Finance Lan Fo’an outlined the government’s plan to strengthen proactive fiscal policies to drive economic growth and improve people’s livelihoods. He discussed increasing financial investment, expanding tax relief policies, and enhancing budget arrangements for education and social security.
Minister of Commerce Wang Wentao highlighted efforts to promote consumption through targeted policies and initiatives such as the “2024 National Online New Year Shopping Festival.” He also discussed strategies to stabilize foreign trade, including expanding trade in intermediate goods and promoting green development.
People’s Bank of China Governor Pan Gongsheng emphasized the flexibility of monetary policy and the need to support economic recovery. He outlined policy measures to support technological innovation, carbon emission reduction, and inclusive finance, as well as efforts to improve payment convenience for foreigners in China.
China Securities Regulatory Commission Chairman Wu Qing stressed the importance of marketization, rule of law, and strict supervision in the capital market. He discussed the need to enhance the quality of listed companies, strengthen market foundations, and crack down on illegal activities.
Overall, the leaders expressed confidence in China’s economic recovery and outlined key strategies to promote high-quality development, support people’s livelihoods, stimulate consumption, and ensure stability in the financial and capital markets.