China’s NDRC: Fully confident in achieving continued economic recovery in 2025
The National Development and Reform Commission (NDRC), China’s state planner, said in a statement on Friday that it is “fully confident in achieving continued economic recovery in 2025.”
Additional takeaways
Will sharply increase funding from ultra-long treasury bonds this year to support "two new" programmes.
Expect consumption to maintain steady growth in 2025.
China's economy facing many new difficulties and challenges in 2025.
There is ample room for macro policies in 2025.
2025 economic growth target will consider both needs and possibility, as well as medium- and long-term plans.
Allocated 100 bln yuan in 2025 for two "new" and two "major" projects in advance.
Will push major reforms in 2025 to stabilize expectations, boost confidence and promote development.
Market reaction
At the time of writing, AUD/USD is trading 0.15% higher on the day at around 0.6215, holding the rebound from over two-year lows.
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