Politics
China's Xi strikes optimistic tone in Chinese New Year speech
Chinese leader Xi Jinping struck an optimistic tone during a speech on Monday (January 27) to mark the Chinese New Year, after acknowledging “complex and serious situations” in recent months.
Xi addressed the meeting of senior Communist Party officials as China prepares for its biggest public holiday, which this year runs from January 28 to February 4 and will see people bid farewell to the Year of the Dragon and ring in the Year of the Snake.
He leads a country that is still struggling to consolidate its economic recovery from the COVID-19 pandemic and is plagued by a real estate crisis, chronically weak consumption and high youth unemployment.
China's economy grew 5% in 2024, its slowest rate since 1990, excluding the financially tumultuous pandemic years.
To revive a faltering economy, Beijing has announced aggressive support measures in recent months, including a reduction in key interest rates, debt relief for local governments and an expansion of subsidy programs for household goods.
“Over the past year, in the face of complex and serious situations, we reacted to events calmly, implemented comprehensive measures, overcame difficulties and pushed each other to move forward,” Xi said.
He said Beijing had “stepped up efforts to promote a set of progressive policies aimed at promoting economic recovery.”
“We have once again proven that with hard work and hard struggle, no difficulty or obstacle can prevent the Chinese people from pursuing a better life or…the historic process of national rejuvenation,” he said. -he declared.
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