The Asian Development Bank (ADB) and the Organization for Economic Co-operation and Development (OECD) have raised their 2025 economic growth forecasts for China, both noting robust policy support and the resilience of the Chinese economy.
In its latest Asian Development Outlook released on Wednesday, the ADB raised its 2025 economic growth forecast for China by 0.1 percentage points to 4.8 percent, citing resilient exports and continued fiscal stimulus in the world's second-largest economy.
Click to Gallery
ADB, OECD raise China 2025 growth forecast
ADB, OECD raise China 2025 growth forecast
ADB, OECD raise China 2025 growth forecast
ADB, OECD raise China 2025 growth forecast
While keeping its global economic growth forecast stable at 3.2 percent, the OECD also revised China's GDP forecast for 2025 from 4.9 percent to 5 percent last week. This adjustment highlights the OECD's recognition of China as a key stabilizer for global economic growth.
The OECD noted that, China's fiscal policy has been expansionary with the introduction of a number of measures to support incomes and boost consumption, in addition to the trade-in program for cars and household appliances.
ADB, OECD raise China 2025 growth forecast
ADB, OECD raise China 2025 growth forecast
ADB, OECD raise China 2025 growth forecast
ADB, OECD raise China 2025 growth forecast
Chinese Premier Li Qiang on Tuesday stressed the importance of improving the conduct of officials, building integrity and combating corruption in government work, which will provide a strong guarantee to achieve the goals and tasks of the 15th Five-Year Plan period (2026-2030).
Li, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks at a State Council meeting on clean governance.
Addressing the meeting, Li called for higher standards and more practical measures in exercising full and rigorous Party self-governance, with the aim of ensuring relevant efforts are implemented across all aspects and processes of government work.
He also called for a more resolute, vigorous approach to implementing the CPC Central Committee's decisions and arrangements, as well as efforts to ensure officials have the correct understanding of what it means to perform well.
Moreover, Li called for further work to combat pointless formality and reduce the burden on primary-level officials, and to strengthen audit-based and accounting oversight to ensure the secure, efficient use of public funds and assets.
He also emphasized the need to deal with corruption issues in key areas seriously, as well as those that occur at people's doorsteps.
Ding Xuexiang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and Chinese vice premier, presided over the meeting.
Li Xi, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and secretary of the CPC Central Commission for Discipline Inspection, attended the meeting.
Chinese premier urges integrity, anti-corruption efforts in government work
