NPC Spokesperson Voices Confidence in Prospects for China's Economy
According to Lou Qinjian, spokesperson for the Third Session of the 14th National People's Congress (NPC), China's economy is expected to stay positive in the long run, supported by various advantages, robust resilience, and significant potential. Lou conveyed his strong confidence in the future of China's economic development during a press conference at the Great Hall of the People in Beijing on Tuesday.
TroibNews 
China's long-term economic outlook remains promising, characterized by numerous advantages, strong resilience, and significant potential, according to Lou Qinjian, the spokesperson for the third session of the 14th National People's Congress. Speaking at a press conference in the Great Hall of the People in Beijing on Tuesday, just a day before the session convenes, Lou expressed unwavering confidence in the prospects for China's economic development.
**Resilient Economic Growth**
In 2024, China's economy showcased remarkable resilience, with its gross domestic product surpassing 130 trillion yuan and achieving a growth rate of 5 percent.
Lou noted that, despite facing external challenges, China continues to uphold a solid economic foundation, abundant advantages, and substantial potential. The Third Plenary Session of the 20th Communist Party of China Central Committee convened last year and introduced comprehensive reforms and advanced opening-up measures designed to further invigorate economic vitality.
He highlighted that China’s vast market size and comprehensive industrial system offer robust support for sustained economic development. As the nation shifts toward new growth drivers, emerging industries are thriving, further enhancing long-term economic momentum.
**Legislation to Promote the Private Economy**
Significant strides have been made in developing the Private Economy Promotion Law, with a draft now submitted to the NPC Standing Committee for review, according to Lou.
The proposed legislation incorporates the principles of "two unwavering commitments" and the promotion of "two healthy developments," aimed at improving the environment for private economic growth and elevating entrepreneurs' confidence.
**China-US Economic and Trade Relations**
Lou reaffirmed the mutually beneficial nature of China-US economic and trade relations, pointing out that bilateral trade has seen over 200-fold growth since the establishment of diplomatic ties 46 years ago, with two-way investment stock around $250 billion.
He criticized the US's unilateral tariff measures as violations of World Trade Organization rules, which disrupt global industrial and supply chain stability. Lou reiterated China's commitment to addressing trade issues through dialogue founded on mutual respect, equality, and reciprocity.
**Stable China-Europe Trade Relations**
According to the spokesperson, China and the European Union continue to enjoy stable trade relations, with economic cooperation being vital for global supply chain security and economic growth. China is eager to deepen collaboration with Europe across various sectors, including legislative exchanges, to collectively tackle global challenges.
The third session of the 14th NPC is set to commence in Beijing on Wednesday, with significant discussions anticipated to influence China's policy direction in the upcoming year.
Navid Kalantari contributed to this report for TROIB News
**Resilient Economic Growth**
In 2024, China's economy showcased remarkable resilience, with its gross domestic product surpassing 130 trillion yuan and achieving a growth rate of 5 percent.
Lou noted that, despite facing external challenges, China continues to uphold a solid economic foundation, abundant advantages, and substantial potential. The Third Plenary Session of the 20th Communist Party of China Central Committee convened last year and introduced comprehensive reforms and advanced opening-up measures designed to further invigorate economic vitality.
He highlighted that China’s vast market size and comprehensive industrial system offer robust support for sustained economic development. As the nation shifts toward new growth drivers, emerging industries are thriving, further enhancing long-term economic momentum.
**Legislation to Promote the Private Economy**
Significant strides have been made in developing the Private Economy Promotion Law, with a draft now submitted to the NPC Standing Committee for review, according to Lou.
The proposed legislation incorporates the principles of "two unwavering commitments" and the promotion of "two healthy developments," aimed at improving the environment for private economic growth and elevating entrepreneurs' confidence.
**China-US Economic and Trade Relations**
Lou reaffirmed the mutually beneficial nature of China-US economic and trade relations, pointing out that bilateral trade has seen over 200-fold growth since the establishment of diplomatic ties 46 years ago, with two-way investment stock around $250 billion.
He criticized the US's unilateral tariff measures as violations of World Trade Organization rules, which disrupt global industrial and supply chain stability. Lou reiterated China's commitment to addressing trade issues through dialogue founded on mutual respect, equality, and reciprocity.
**Stable China-Europe Trade Relations**
According to the spokesperson, China and the European Union continue to enjoy stable trade relations, with economic cooperation being vital for global supply chain security and economic growth. China is eager to deepen collaboration with Europe across various sectors, including legislative exchanges, to collectively tackle global challenges.
The third session of the 14th NPC is set to commence in Beijing on Wednesday, with significant discussions anticipated to influence China's policy direction in the upcoming year.
Navid Kalantari contributed to this report for TROIB News
