Lin Yifu: China will remain a major driver of global growth

For more: https://www.cgtn.com/video China has pledged to adopt a "more proactive fiscal policy" and a "moderately loose monetary policy" in the year 2025 to boost domestic demand, accelerate economic recovery and strengthen self-reliance in key technologies. Will China achieve its 5 percent GDP growth target for 2024? How will the government boost household consumption and restore confidence in the property market? In this edition of The Hub, Wang Guan sits down with Justin Lin Yifu, dean of the Institute of New Structural Economics at Peking University, to discuss these pressing issues. Lin highlights plans to address local government debt, which he notes has "constrained their ability to cope with new challenges." He also remarks that the property market will remain "a pillar of China's growth." Following Chinese President Xi Jinping's recent meeting with leaders of international multilateral organizations, Lin underscores that "globalization is the best scenario" for both China and the world. He dismisses the "peak China" narrative, noting that China will tap into its huge "talent, market and supply chain" pools to remain competitive and predicts that China will remain a major driver of global growth for decades to come. Subscribe to us on YouTube: https://goo.gl/lP12gA Download our APP on Apple Store (iOS): https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8 Download our APP on Google Play (Android): https://play.google.com/store/apps/details?id=com.imib.cctv