中国央行报告：实现全年GDP增长预期目标有基础有支撑

Core Viewpoint - The People's Bank of China (PBOC) reports that there is a solid foundation and support for achieving the annual GDP growth target of around 5% for the year 2025, as the economy shows resilience and vitality with a year-on-year GDP growth of 5.2% in the first three quarters of the year [1]. Economic Performance - In the first three quarters, the production supply has shown stable growth, and new economic drivers are steadily developing, contributing to a robust economic performance [1]. - The retail sales of goods involved in the "old-for-new" policy maintained double-digit growth, while high-efficiency and smart home appliance sales continued to grow rapidly [1]. Policy Measures - The report highlights the effectiveness of various macro policies, including the "two new" and "two heavy" policies, which aim to expand domestic demand and invigorate the market [1]. - The PBOC emphasizes the need for a balanced approach in policy implementation, considering short-term and long-term goals, growth stability and risk prevention, as well as internal and external factors [1]. Future Outlook - Market participants express optimism that with coordinated efforts in fiscal, monetary, and industrial policies, the annual economic growth target of around 5% is likely to be achieved [1].