China vice premier pledges more policy support, says economy started 2025 well
Chinese Vice Premier Ding Xuexiang attends a meeting with Britain's Energy Secretary Ed Miliband (not pictured) at the Great Hall of the People in Beijing, China, on Mar 17, 2025. (Photo: REUTERS/Florence Lo/Pool)
BOAO, China: Chinese Vice Premier Ding Xuexiang said on Thursday (Mar 27) that the world's second-biggest economy had started 2025 well and that further steps would be taken to shore up domestic demand and the country's ailing property sector.
His keynote speech at a business and political summit in the island province of Hainan comes in a week where Beijing has mounted a charm offensive to woo fresh foreign investment for its sluggish economy and protect against simmering geopolitical tensions.
"In the first two months of this year, the economy started steadily, continuing the upward trend since the fourth quarter of last year," China's sixth-ranking official told delegates at the annual Boao Forum.
"There is not only the support of growth potential and conditions, but also the guarantee of strong policies and measures," he added.
Ding reiterated Chinese Premier Li Qiang's message at the China Development Forum in Beijing on Sunday that countries should open their markets and "resolutely oppose trade and investment protectionism," in a veiled reference to the Trump administration.
US President Donald Trump has announced a wave of fresh "reciprocal" tariffs to take effect on Apr 2, targeting countries with trade barriers on US products, which could include China.
He imposed 20 per cent tariffs on Chinese exports this month, prompting China to retaliate with additional duties on American agricultural products.
Policymakers in China have put expanding domestic demand, especially consumption, as the top priority this year as they try to cushion the impact of US tariffs on its crucial export engine.
"We will implement more active and promising macroeconomic policies, expand domestic demand in all directions and actively stabilise foreign trade and investment," Ding said.
"Greater efforts will be made to promote the healthy development of the property market and the stock market," he added.
