1、Chinas economy is poised to consolidate stability through progress in 2024February 2024Chinas economy hit the governments target with a 5.2%increase year-on-year(YoY)in 2023,yet the recovery remained uneven and still needs to be consolidated.The recovery of service and high-end manufacturing activit

2、ies was the main driver for growth,however,the real estate,financial industry and internet platform economy are still under pressure and will likely remain so throughout 2024.While Chinas economy will continue to face both internal and external risks and challenges,the upward recovery trajectory wil

3、l likely continue this year and further consolidate thanks to strong resilience of the economy and plenty of policy tools and rooms for the policymakers to effectively tackle downward pressure.Accelerating the development of a modern industrial system,expanding domestic demand and enhancing economic

4、 vitality will be the key tasks.Amid cyclical weakness associated with lower global demand,a proactive fiscal policy will take a leading role,with targeted measures being taken in certain sectors.The central bank will continue with a prudent monetary policy to pump out“flexible,moderate,precise and

5、effective”support to economic recovery.Preventing hidden local government debt1and diverting more financial support to technological innovation and green development will ensure a smooth transformation from old patterns to new ones in key spheres.31.P,https:/ high-end manufacturing industry continue

6、s to drive the recovery,such as the production of solar batteries,new energy vehicles and power generation equipment surged 54%,30.3%,and 28.5%YoY3,respectively.“Establishing the new before abolishing the old”4thus to ensure a smooth transformation from old drivers to new ones will be a key task for