Xi Jinping Stresses China's Economy Still Moving Forward, Urges Meeting This Year's Targets
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President Xi Jinping, China's leader, said the country's economy remains resilient and still has momentum, and called on all parties to work together to achieve this year's economic targets and to create a good start for the 15th Five-Year Plan for National Economic and Social Development. He spoke at a banquet marking the 77th anniversary of the founding of the People's Republic of China on Wednesday, September 30, which was his first speech since a summit with President Donald Trump the previous week. China's government has set this year's economic growth target at 4.5-5%, but second-quarter growth came in at 4.3%, below the target, and this week the Chinese government announced a stimulus plan, its largest package of economic support measures since 2024, covering mortgage subsidies and an increase in the central bank's credit liquidity, with a focus on infrastructure, technology and other targeted sectors. Xi also reiterated calls for more communication, exchanges and cooperation across the Taiwan Strait, while pressing ahead with a crackdown on groups that support Taiwan independence, according to a Xinhua News Agency report. At the summit in Washington, Trump and Xi confirmed a framework for managing disputes between the world's two largest economies, with both sides agreeing to extend a trade truce until January 2027, cut tariffs on goods outside the sensitive category worth a total of 60 billion dollars, and set up a communication mechanism to address risks from artificial intelligence technology.