China's Proactive Economic Policies Propel Growth Amid Slowdown Concerns

China is expected to achieve its 5% growth target this year, with promises of more proactive policies in 2026 to stimulate economic growth. President Xi Jinping emphasized fiscal measures to boost incomes and investment, addressing concerns over economic slowdown and maintaining stability.

China is poised to reach its economic growth target of around 5% this year, according to President Xi Jinping. During a New Year's gathering with top Communist Party officials, Xi highlighted the nation's extraordinary economic progress and set the stage for proactive policies next year to stimulate growth.

Although Xi did not outline specific policies, he reiterated recent government commitments to fiscal measures aimed at boosting incomes and supporting consumption and investment. Such steps are seen as crucial to addressing the slowdown gripping the world's second-largest economy in the latter half of the year.

In response to concerns over economic imbalances, Chinese leaders pledged a proactive fiscal policy in an economic meeting, aligning with Xi's message of resilience and vitality. In financial markets, China's Shanghai Composite Index concluded the year with notable gains, and further measures are slated for 2026 to sustain economic momentum.

(With inputs from agencies.)