China is fine-tuning its policies aimed at revving up its economy as it braces for an uncertain future in relations with the United States under President-elect Donald Trump.
Engineering vehicles for export wait for transportation from a port in Yantai in eastern China ’s Shandong province, Tuesday, Nov. 19, 2024. A man carries a television set on his shoulder as he passes through the Sanlitun shopping district in Beijing , Friday, Nov. 8, 2024. A foreign buyer bargains toys prices with a vendor at the Yiwu wholesale market in Yiwu, east China ’s Zhejiang province on Nov. 8, 2024.
Government procurement generally amounts to about 10% or more of business activity in major economies. Before that closed-door meeting convenes in Beijing, Premier Li Qiang was due to hold a conference Monday with heads of 10 major international organizations including the World Bank, International Monetary Fund and World Trade Organization, the Foreign Ministry said in a notice on its website.
China’s leaders set a target for economic growth of “about 5%” for this year. In the first three quarters, growth averaged 4.8%, and has gradually slowed. Over the past few months, regulators have rolled out ameant to help reverse the downturn in the housing market and encourage more spending by Chinese households that have been tightening purse strings since the pandemic.
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