TIANJIN: As China shifts from a manufacturing-led model to a consumer-driven one, which economists believe is essential to safeguarding its future, Premier Li Qiang expressed confidence on Wednesday that the world’s second-largest economy could sustain a “relatively rapid” growth rate.
Li gave the keynote address at a World Economic Forum meeting in Tianjin as Chinese officials attempt to use policy support to lessen the economic harm brought on by the trade war with the United States. This is a particularly difficult task for those in charge who are juggling the urgent need to implement painful structural reforms.
However, China’s second-ranking official expressed optimism to delegates that Beijing could do both. We have faith that we can keep China’s economy growing at a comparatively quick pace,” Li stated.
“China’s economy showed steady improvement in the second quarter,” he stated. “Regardless of how the international environment evolves, China’s economy has consistently maintained a strong momentum for growth.”
Beijing has set an ambitious growth target of “around 5%” for 2025, but most analysts predict that if a durable truce cannot be reached with Washington, China would find it difficult to continue growing at those rates in the years to come.
Also Read:
E. Datuk Yuro TY and Tri-T Group Extend Eid Greetings, Emphasizing Unity, Prosperity, and Generosity
PTSA’s Holistic Approach In Shaping The Future Of Football: Mohamad Adlouni
