Vice Minister of Finance Liao Min: China is confident of achieving its annual economic growth target of around 5%

On October 27, Vice Minister of Finance and World Bank China Deputy Director Liao Min said that the recent launch of a package of incremental policies by the Chinese government has attracted extensive attention from the international community. In addition to monetary policy, China will also step up counter-cyclical adjustment of fiscal policy. A series of strong measures will be implemented in terms of resolving local government debt, stabilizing the real estate market, raising the income of key groups, safeguarding people's livelihood, promoting equipment renewal and trade-in of consumer goods. Through government spending, social investment will be leveraged, consumption will be stimulated, and effective demand will be increased. China is confident that it will achieve its annual economic growth target of around 5% and continue to inject impetus into global economic growth.