China’s Xi strikes bullish tone in speech to mark Lunar New Year
Beijing, China
China’s economy grew five percent in 2024, its slowest rate since 1990, excluding the financially tumultuous years of the pandemic.
To reignite the stuttering economy, Beijing in recent months has announced aggressive support measures, including cutting key interest rates, easing local government debt and expanding subsidy programmes for household goods.
“Over the past year, in the face of complex and severe situations, we have responded to events with composure, implemented measures comprehensively, overcome difficulties and pushed each other to forge ahead,” Xi said.
He said Beijing had “stepped up efforts to push a basket of incremental policies to promote economic recovery”.
“We have again proven that with hard work and struggle, no difficulties or obstacles can stop the Chinese people from pursuing a better life, or… the historical process of national rejuvenation,” he said.
Experts have warned that the recovery remains uneven, and Beijing may face further headwinds this year if US President Donald Trump follows through on vows to hike tariffs on Chinese goods in retaliation for allegedly unfair trade practices.
This photo taken on January 23, 2025 shows Lin Xinmeng (2nd R) and other male lion dancers performing on a street in Shantou, in southern China’s Guangdong province. Sporting furry sequinned trousers and a black training top, Lin Xinmeng flings her male teammate into the air — part of China’s world-renowned lion dance that is shrugging off centuries of patriarchal norms. Performed across China and around the world, at weddings or during business openings, it is a mainstay festivity for the Lunar New Year which which falls on January 29 this year. (Photo by Jade GAO / AFP) / TO GO WITH: CHINA-CULTURE-LNY-DANCE-LION, REPORTAGE BY LUDOVIC EHRET
“Now China’s policies toward export and trade are very open,” Zhong Haiping, a 27-year-old trader from southern Guangdong province, told AFP.
She said that she aims to conquer “some difficulties” at work in the coming year, but hopes “the Year of the Snake will be better than the Year of the Dragon”.
Student Li Boxuan, who travelled from the northwestern city of Xi’an, is to set to try his luck in China’s job market — and contend with the country’s high youth unemployment.
“I should graduate next year, so I hope I can find a suitable job,” the 25-year-old told AFP.
“I hope I can progress together with our country, and we can both realise our dreams for the future.”
mjw-sam/je/lb
© Agence France-Presse
