China Confident in Achieving 5% Economic Growth Target for 2025, Despite Trade Tensions

China remains “fully confident” it will meet its 5% economic growth target for 2025, despite ongoing trade tensions with the United States, according to Zhao Chenxin, Deputy Head of the National Development and Reform Commission. Speaking at a news conference on Monday, Zhao emphasized that China has ample policy reserves and flexibility to achieve its goals, regardless of international challenges.

Zhao stressed that China is focused on its domestic development, remaining committed to its strategic objectives and effectively managing internal affairs. “We are fully confident in achieving this year’s economic and social development targets,” he said.

Zhao also outlined plans to boost employment, including encouraging stable hiring practices, expanding vocational training, strengthening public employment services, and supporting job creation through public works projects.

Separately, Zou Lan, Deputy Governor of the People’s Bank of China, announced that the central bank will adjust the reserve requirement ratio and interest rates as needed based on domestic and global economic conditions.

Zou noted that the People’s Bank is exploring additional policy tools to support employment, businesses, and market expectations. Addressing concerns about the impact of US Treasury and dollar exchange rate fluctuations on China, he assured that China’s foreign exchange reserves are managed professionally and are largely unaffected by market volatility.