BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

China’s Stimulus Plan to Boost Economy’s Competitive Areas, Ex-PBOC Official Says

by BlockNews.com Team
October 25, 2023
in Breaking News, Business, Finance
A A
China’s Stimulus Plan to Boost Economy’s Competitive Areas, Ex-PBOC Official Says
1
SHARES
Share on TwitterShare on Reddit
  • China recently announced a new economic stimulus package focused on boosting competitive sectors like climate change while avoiding the troubled property industry, according to former PBOC deputy governor Zhu Min.
  • Although modest in size, Zhu predicts the stimulus will have a significant impact by targeting competitive areas. However, he notes China still faces cyclical issues like COVID-19 and structural challenges relating to its development model.
  • Looking ahead, Zhu forecasts China’s GDP growth will be 4-5% in 2023 and 2024. While lower than the 6% target, this would represent a major rebound from 2.2% growth in 2022.

China recently announced a new economic stimulus package. Zhu Min, a former deputy governor of the People’s Bank of China, says the plan will boost new competitive sectors while avoiding the troubled property industry.

🚨 MACRO: China announced a 1 trillion yuan, $137 billion, targeted stimulus.

Focusing on bolstering climate-centric initiatives and emerging industries.

Plans include steering clear of its struggling property market.

Despite escalating national debt, China remains confident… pic.twitter.com/3sQZPId2ww

— BlockNews.com (@blocknewsdotcom) October 25, 2023

Ex-PBOC Official Predicts Significant Impact Despite Modest Size

Although the stimulus package is not large, Zhu predicts it will have a big impact because it focuses on areas like climate change that will make China more competitive globally. He says the plan avoids funneling money into real estate, which is facing troubles.

Ex-PBOC Official Highlights Structural and Cyclical Challenges

In addition to the stimulus plan, Zhu says China faces both cyclical and structural economic issues. The structural challenges relate to China’s development model and demographics. The cyclical issues include COVID-19 impacts and the property downturn.

Former PBOC Deputy Governor Discusses China’s Growth Outlook

Looking ahead, Zhu expects China’s economy to grow between 4-5% in 2023. While lower than the 6% target, he says this range would still represent a significant turnaround from 2.2% growth in 2022. For 2024, Zhu predicts China’s GDP growth will also land between 4-5%.

Conclusion

The former PBOC deputy governor sees China’s new stimulus plan as a targeted effort to boost emerging competitive industries. He believes it will have a sizable impact despite its limited overall size. However, Zhu notes China continues to grapple with structural and cyclical economic challenges.

Tags: BusinessmarketPBOCZhu Min
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

HBAR Price Rebounds, Hits Highest Point Since March
Crypto

HBAR Price Rebounds, Hits Highest Point Since March

May 10, 2025
Memecoins Steal the Spotlight as Ethereum Surges: PEPE and BONK Lead the Charge (Still Early?)
Crypto

Memecoins Steal the Spotlight as Ethereum Surges: PEPE and BONK Lead the Charge (Still Early?)

May 10, 2025
Sui (SUI) Gains 10% Amid Market Optimism — But Is a Selloff Looming?
Crypto

Sui (SUI) Gains 10% Amid Market Optimism — But Is a Selloff Looming?

May 10, 2025
TRON’s USDT Dominance Grows as Whales Tighten Grip
Crypto

TRON’s USDT Dominance Grows as Whales Tighten Grip

May 10, 2025
Cardano ADA Just Broke a KEY Resistance Level: Here is the Next Price Target You Need to Watch
Cardano

Cardano ADA Just Broke a KEY Resistance Level: Here is the Next Price Target You Need to Watch

May 10, 2025
Solana (SOL) Pumps 17% as Institutional Inflows Surge
Crypto

Solana (SOL) Pumps 17% as Institutional Inflows Surge

May 10, 2025
Load More

Related News

HBAR Price Rebounds, Hits Highest Point Since March

HBAR Price Rebounds, Hits Highest Point Since March

May 10, 2025
Memecoins Steal the Spotlight as Ethereum Surges: PEPE and BONK Lead the Charge (Still Early?)

Memecoins Steal the Spotlight as Ethereum Surges: PEPE and BONK Lead the Charge (Still Early?)

May 10, 2025
Sui (SUI) Gains 10% Amid Market Optimism — But Is a Selloff Looming?

Sui (SUI) Gains 10% Amid Market Optimism — But Is a Selloff Looming?

May 10, 2025
TRON’s USDT Dominance Grows as Whales Tighten Grip

TRON’s USDT Dominance Grows as Whales Tighten Grip

May 10, 2025
Cardano ADA Just Broke a KEY Resistance Level: Here is the Next Price Target You Need to Watch

Cardano ADA Just Broke a KEY Resistance Level: Here is the Next Price Target You Need to Watch

May 10, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Newsletter
  • Advertise
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin Meme Coin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.