National Development and Reform Commission (NDRC) Chairman Zheng Shanjie said that China will implement a package of additional policies. He emphasized China’s confidence in achieving China's annual economic growth target. Zheng made the statement on October 8th, at a press conference held by the State Council Information Office.
Zheng stated that China is implementing a package of additional policies to promote sustainable economic recovery in five key areas.
1.To address the downward pressure on economic performance, counter-cyclical adjustments to macroeconomic policies must be strengthened, and sustainable efforts will be made across all sectors.
2. New policies will focus on improving people's welfare and pushing up consumption, while leveraging investment to drive economic growth.
3.Supportive measures will be provided，while business environment will be improved， to help enterprises survive the challenging times.
4. Comprehensive policy measures will be adopted to stabilize the real estate market, which remained weak.
5. Measures will be implemented to boost the capital market in response to recent stock market fluctuations.
The press conference revealed that the 700 billion yuan central budget investment has been fully allocated to support "Two Major" construction projects: implementation of national strategic initiatives and security capacity building in key areas. Ultra-long-term special treasury bonds will be issued in 2025，with special emphasis on further supporting these "Two Major" projects.
The conference also emphasized adopting more inclusive and prudent regulatory approaches with flexible enforcement. The legislative process for the Private Economy Promotion Law will be accelerated to create a favorable environment for non-public sector economy.
