China's Economic Resurgence: Boosting Growth Amid Challenges

China's Vice Premier Ding Xuexiang affirmed policy support to achieve 2025 growth targets, emphasizing AI advancements and increased foreign investment. Despite geopolitical tensions and concerns over post-pandemic recovery, China aims to bolster domestic demand and expand market access, promoting real estate, stock markets, and technological innovations.

In a keynote address delivered at a prestigious summit in Hainan, China's Vice Premier Ding Xuexiang committed to reinforcing policy measures to support the world's second-largest economy. Ding reassured delegates that the nation's economy hit the ground running in 2025 and is well-positioned to meet growth targets, largely due to advancements in artificial intelligence (AI) and other cutting-edge technologies.

This week, Beijing has undertaken a diplomatic initiative to attract foreign investment amid geopolitical tensions. Despite ongoing challenges posed by tight regulations and geopolitical strains, Ding emphasized the importance of expanding domestic demand to counterbalance external economic pressures. The goal is to maintain momentum in the recovery trajectory seen since last year.

Addressing concerns over the investment climate, Ding outlined plans to liberalize market access and support sectors like real estate and stock markets. External observers note the centrality of such efforts in bolstering consumer spending in a nation where real estate accounts for a significant portion of household wealth. Amidst discussions of technological self-reliance, Ding reiterated China's stance against trade protectionism, alluding to tensions with the Trump administration's trade policies.

(With inputs from agencies.)