China’s finance minister on Thursday left the door open to more stimulus measures on top of those announced at the annual parliament meeting this week, in the event the tariff-hit economy veers off its track towards its roughly 5% growth target.
Lan Foan, speaking to the media alongside other officials a day after Premier Li Qiang’s annual address to lawmakers, said China had ample policy room to deal with any domestic and external threats to economic growth.
The government announced on Wednesday more fiscal resources will be deployed in 2025 compared with last year to keep the economy growing at the same pace, while fighting a trade war with Washington.
U.S. President Donald Trump’s tariff increases on China are threatening China’s sprawling industrial complex, at a time when persistently sluggish household demand and the unraveling of the debt-laden property sector are leaving the economy increasingly vulnerable.
China’s state planner, Zheng Shanjie, said he was confident about reaching the annual growth target despite mounting external uncertainties and insufficient domestic demand.
The country will launch major projects in key sectors such as railways, nuclear power, water conservancy, and other key industries, aiming to attract private investment, Zheng said.