MNI BRIEF: China Can Meet Goals Despite Uncertainty - NDRC

China is confident it can achieve this year’s development goals no matter how the international situation changes, Zhao Chenxin, vice chairman of the National Development and Reform Commission, told reporters on Monday, when asked if the country can meet its 5% GDP growth target in 2025.

Zhao said the government will take steps to consolidate the economic recovery further and that the impact of external shocks had increased.

“We still have abundant policy reserves and sufficient space,” Zhao said, adding that the government will accelerate measures to stabilise employment and promote consumption. 

China’s crude oil imports are expected to fall ​0.3% y/y in 2025, as rising trade tensions sap downstream demand, while an expansion in the nation’s petrochemical industry grows overall throughput, a government energy advisor recently told MNI. (See: MNI INTERVIEW: China Crude Imports Set To Fall)