CGS: China's new consumption plan establishes systematic approach for long-term economic growth

CGS: China's new consumption plan establishes systematic approach for long-term economic growth

China's government has introduced a new initiative aimed at increasing consumption. During a State Council press conference on March 17, officials from six major departments, such as the National Development and Reform Commission and the Ministry of

China makes progress in gov't budget disclosure

China has made significant progress in government budget disclosure and fiscal transparency, providing support for the establishment of a modern budget system, according to the Ministry of Finance. Central government departments released their 2025 budgets on Wednesday. This is the 16th consecutive year of such disclosures since the practice began in 2010. Budget disclosure is a crucial component of government transparency and a key measure to e…

GDP showing more signs of stabilizing

China's economy is showing clear signs of steady recovery with a sound showing in the first two months, and is back on track for healthy, sustainable growth, bolstered by a mix of stimulus policies and meaningful reforms measures in the pipeline.

China’s economic ambitions for the future

On the sidelines of the Two Sessions in Beijing, China released an extensive report detailing the progress of the nation’s 2024 national economic and social development plans, along with a preview of their draft plan for 2025. The report, issued by the National Development and Reform Commission (NDRC), outlines the achievements, challenges and key policies […]

Peng Sen cited consumption levels of up to 80% of GDP in richer countries