On 12 September, the Information Office of China’s State Council held a press conference titled “High-Quality Completion of the 14th Five-Year Plan.”
Finance Minister Lan Fo An stated that during the 14th Five-Year Plan period, the effectiveness of revenue and macroeconomic management improved, and fiscal policies became more closely aligned with economic conditions. By adopting a strategically proactive and precise approach, fiscal policy has become a key driver of stable and healthy economic development.
This approach has supported the expansion of domestic demand, the development of new productive capacity, the smoothing of economic cycles, and the achievement of effective qualitative improvements alongside reasonable quantitative growth. Over the past four years, China’s economy has achieved an average growth rate of 5.5 percent, with its contribution to global economic growth remaining stable at around 30 percent.
Source: Jinia-Touhid-Fei, China Media Group