China pledges to support jobs and economics in light of the impact of America’s customs duties
Chinese officials have confirmed their plans to enhance job and economy support, in light of the continuation of the trade war with the Trump administration without an imminent solution on the horizon.
“The government will fully prepare emergency plans and constantly improve politics tools to achieve job stability and economy.”.
These statements reinforce the repeated attempts of Chinese decision -makers to reassure public opinion, that China will take measures to support growth in light of the impact of the standardly liberal tariffs on the prospects of the economy. Zhao said China was “completely confident” to achieve the goal of growth by 5% in 2025.
The durability of the Chinese economy
The officials have largely repeated the pledges made by the Political Bureau of the Communist Party led by President Xi Jinping last week about preparing to face external shocks. Zhao also highlighted the durability of the economy in the first quarter of 2025, including the greatest contribution to local demand to grow on a quarterly basis.
Yi Jia Dong, Deputy Minister of Human Resources and Social Security, admitted the negative effects of US tariffs, saying that some exporters face difficulties in business and that some jobs were affected. He said that the government will take steps to improve workers’ skills and give priority to employing young people.
Despite the opposite factors, Beijing indicates that it is not in a hurry to expand strongly in stimulating the economy after weeks of announcing measures that included the commitment to register a high standard deficit in the budget.
China supports banks
China will provide more money for banks, and reduce interest rates in time, according to Zo because the deputy governor of the Central Bank of China, stressing the previous pledges. He also said that the Chinese People’s Bank will direct banks by continuing to provide loans to exporters who face difficulties.
Zoo reiterated that China will keep the yuan stable at a “reasonable and balanced” level, adding that the flexibility of the foreign exchange market provides strong support for the stability of the Chinese currency.
China seemed to have resisted entering any trade negotiations with Trump. Last week, officials rejected the reports of talks to reach a trade agreement, and confirmed their demands to Washington to cancel all unilateral definitions. Sheng Chiping, Deputy Minister of Commerce, also attended the press conference held by the Vice -Chairman of the National Committee for Development and Reform.
