China intensified the implementation of more proactive and effective macroeconomic policies, ensuring a steady economic growth despite mounting external impacts, said a spokesman for the National Bureau of Statistics (NBS) on Monday.
Addressing a press conference held by the State Council Information Office in Beijing, Fu Linghui, the NBS spokesman, briefed on China's national economic performance in April.
Despite that the complex and grim international environment, the fundamentals sustaining China's long-term economic growth have not changed, nor has the favorable conditions underpin its steady economic recovery. Since April, the Chinese government advanced further implementation of more proactive economic policies, providing stronger guarantees for economic development and yielding more evident results, according to Fu.
"Enhanced efforts around implementing major national strategies and building up security capacity in key areas, as well as promoting large-scale equipment upgrades and consumer goods trade-ins, have been expanding market demand, stimulating enterprise production, supporting innovation, and boosting market confidence. The policies have continued to deliver positive outcomes. From January to April, the growth rates of major production and demand indicators were all significantly higher than those of last year. Recently, relevant authorities have further lowered required reserve ratios and interest rates and introduced new types of policy-based financial instruments, supporting technological innovation and boosting consumption. With the gradual implementation of policies introduced by the CPC Central Committee and the State Council, these efforts will help sustain the economy's upward momentum," said Fu.
In April, the combined effect of macro policies continued to drive steady development across various sectors and expand domestic demand.
"From the perspective of the services sector, thanks to policies aimed at expanding domestic demand, the sector maintained steady growth. In April, the Index of Services Production grew by 6 percent year-on-year, marking the second-highest monthly growth rate this year. Deepening digital transformation and increased tourism and travel supported the stable growth of information and business services," he said.
Despite external shocks, China's economy is expected to maintain a stable growth momentum, backed by diverse favorable conditions, Fu said.
"In April, external shocks intensified, yet China's economic foundation remains solid, with advantages in multiple aspects, strong resilience, and great potential. With coordinated macro policy efforts and proactive responses of all parties, the national economy continued to operate steadily while overcoming challenges. The quality of development has further improved, reinforcing our confidence and capability to respond to various risks and challenges," said Fu.
Proactive macro policies safeguard China's economic growth in April
