China's economy poised for steady growth in 2025: central bank

BEIJING -- China's economy is expected to maintain stable growth in 2025, according to the Q4 2024 monetary policy report released by the People's Bank of China on Thursday.

Stimulus measures rolled out in late 2024 have already begun to revitalize production, demand, and market sentiment, which will further sustain the recovery momentum, according to the report.

Domestic demand has shown great potential for improvement, with measures to boost consumption and investment delivering standout results. Notably, retail sales for home appliances jumped 11.8 percent year on year in 2024.

China will adopt a more proactive fiscal policy and a moderately loose monetary policy, prioritizing the stabilization of prices at reasonable levels, the central bank said.

Monetary authorities will deepen market-driven exchange rate reforms, strengthen foreign exchange market resilience, and enhance cross-border capital flow monitoring, in a bid to ensure the yuan remains stable at an equilibrium level.

China will accelerate institutional reforms and high-standard financial market opening, with measures to advance the yuan's global use in cross-border trade and investment, and deepen international currency cooperation, the central bank added.