Xu Hongcai
Deputy Director, Economic Policy Commission
Apr 09, 2024
The Government Work Report has defined China’s policy goals and priorities for 2024. High-quality economic and social development beckons.
Feb 20, 2024
The economy will stabilize and improve this year, and prudent monetary policy can bring reductions in the bank reserve ratio and interest rates. In the short term, the priority should be the expansion of domestic demand. In the longer term, innovation must drive high-quality development.
Nov 10, 2023
Forecasts are not in line with reality. China’s economy is doing better than some analysts believe. Yet, alternative strategies must be found. A multi-pronged approach will cover the void left by real estate adjustments and lead China’s economy to a promising future.
Mar 24, 2023
Consumption is the key. To restore and expand it, China needs to roll out sound, targeted policies. Obstacles that currently hinder consumption growth need to be removed, especially in the real estate and automobile sectors.
Feb 03, 2023
China will stay on a positive trajectory this year, but its achievements did not come easily. Some fundamentals still need to be addressed, as the foundation underpinning the recovery is not yet rock solid. Boosting incomes would make a difference.
Dec 29, 2022
Despite a slowing of global economic tailwinds, China is expected to see 4.7 percent growth next year for many reasons, including domestic consumption. Government spending will expand, and private investment will be encouraged. All in all, China will gradually see a return to economic boom times.
Nov 22, 2022
Improved China-U.S. relations are within reach. The conciliatory statements by the two presidents, Xi Jinping and Joe Biden, as they met face to face on the sidelines of the G20 summit carve out a foothold that can be strengthened and expanded.
Oct 25, 2022
After the 20th Party Congress, relations with the U.S., Europe and Japan are likely to improve, as China continues to pursue high-quality development and the integration of domestic demand with supply-side structural reforms.
Jul 27, 2022
China’s fundamentals are resilient and robust, and the trend points to normalcy and growth. Trade is up, inflation has been controlled, and while the U.S. Fed’s rate hike pushed many currencies down, the Chinese yuan has remained stable.
Mar 24, 2022
Growth of 5.5 percent growth is possible and consistent with the country’s economic expansion in recent years. One key path forward is the digital economy. Green development will help define China’s high-quality economic future.