Gross domestic product in 2023 was raised by 3.4 trillion yuan to 129.4 trillion
China revised upwards on Thursday the size of its economy by 2.7%, but said the change would have little impact on growth this year, as policymakers pledged more stimulus to spur expansion in 2025.
He did not explain the reasons for the 2023 revision, but said the bureau would provide further details on its website within days. The fifth economic census carried out over the past five years encompassed the three years of the COVID-19 pandemic, which had a significant impact on the economy, Kang added.
On Thursday, the World Bank raised its forecast for China’s economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the property sector, would keep weighing it down next year.The economic census will provide important data to help formulate tasks for China’s 15th five-year plan from 2026 to 2030, and help achieve its 2035 goals, Kang said, without elaborating.
At an agenda-setting meeting this month, Chinese leaders pledged to increase the budget deficit, issue more debt and loosen monetary policy to support economic growth next year in expectation of more trade tensions with the U.S. when President-elect Donald Trump takes office in January.
Canada News Breaking News Video Canadian Breaking News Breaking News Globe And Mail Breaking News Globe And Mail Canada News Photos World News Local News National News Us News Foreign News Sports News Arts News Life News Lifestyle Canada Traffic Canada Weather Trudeau Government Federal Government Canada Sports Canada Sports News Politics Politics News Political News Political Opinion Environment Economy Technology Education Travel Canada Alberta Bc British Columbia Manitoba Ontario Quebec Nova Scotia Pei New Brunswick Newfoundland And Labrador Nunavut Northwest Territories Yukon Globe And Mail
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Quebec police arrest five men in connection with three killings in 2023, 2024MONTREAL — Quebec police say they've arrested five men in connection with three killings over the last 18 months in Montreal and in a suburb just east of the city.
Read more »
Quebec police arrest five men in connection with three killings in 2023, 2024MONTREAL — Quebec police say they've arrested five men in connection with three killings over the last 18 months in Montreal and in a suburb just east of the city.
Read more »
Quebec police arrest five men in connection with three killings in 2023, 2024MONTREAL — Quebec police say they've arrested five men in connection with three killings over the last 18 months in Montreal and in a suburb just east of the city.
Read more »
China planning record budget deficit of 4% of GDP in 2025, sources sayThe new deficit plan compares with an initial target of 3% of GDP for 2024, and is in line with a ‘more pro-active’ fiscal policy outlined by leading Chinese officials
Read more »
Inflation Steals Food From Tables of the Vulnerable in 2024The Almoner of the Sovereign Order of St. John of Jerusalem, Knights Hospitaller, writes about the increasing struggle faced by vulnerable populations due to inflation in 2024. Social service agencies are finding it hard to meet rising demands with decreasing government and direct donations.
Read more »
Real Madrid star Bellingham says he felt like England scapegoat after Euro 2024Real Madrid midfielder Jude Bellingham said he was made a scapegoat after England came up short in its bid to win this year's European Championship.
Read more »