China’s consumption push will support global growth, Premier Li says BEIJING (Reuters) -Chinese premier Li Qiang said on Thursday reforms and a shift to a consumption-led model in the world’s No. 2 economy will help it continue to be the world’s biggest driver of economic growth. Beijing’s second-ranking official said policy support rolled out since late last year was helping lift domestic demand and that China’s economy had shown resilience, despite a slowing global economy and fresh external challenges. "We are strengthening macro policies, actively expanding domestic demand, and forcefully boosting consumption," Li said at the Asian Infrastructure Investment Bank’s annual meeting in Beijing. "The expansion and quality upgrading of China’s massive market will continue to unleash enormous dividends, creating more trade and investment opportunities for countries worldwide. In short, China remains the country that provides the greatest driving force for global economic growth." His comments come after both the International Monetary Fund and World Bank warned earlier this year that growth across the Asia Pacific could weaken due to China’s cooling economy and rising trade tensions with the West. Lacklustre imports over the past six months have raised questions among economists over the nature of China’s contribution to regional growth. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.

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China will take ‘forceful steps’ to boost consumption, Premier Li says Investing.com-- China will act more aggressively to boost laggard consumption in the country, Premier Li Qiang said in an address on Thursday, likely heralding more stimulus measures from Beijing. China will take forceful steps to boost consumption,” Li said in an address at the Asian Infrastructure Investment Bank’s annual meeting. Li also highlighted resilience in the Chinese economy, and said that growth had remained stable in the second quarter. Beijing had through late-2024 rolled out a slew of measures aimed at boosting laggard consumer spending in the country, most notably subsidies on electronics and household goods. While the measures did appear to be providing some support, China’s disinflation trend showed few signs of improving in recent months, with U.S. trade tariffs on the country applying fresh pressure. Li’s comments on Thursday likely herald more policy support from Beijing, with investors still holding out for more fiscal stimulus. A recent stop-gap trade agreement between the U.S. and China, which slashed trade tariffs on the country, also stands to benefit the economy. But while a swathe of recent economic readings showed some pressure from the U.S. tariffs, they also highlighted resilience in the world’s second-largest economy. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.

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