U.S. President Donald Trump's tariff strategy, including a universal steel and aluminum tariff of 25 percent and global reciprocal tariffs starting from April 2, has sparked widespread concern over its economic impact both domestically and globally.
China's latest push to boost consumption is expected to shore up consumer confidence, unleash domestic demand potential and inject strong momentum into high-quality economic growth.
Facing headwinds from trade protectionism and a slowing global economy, Chinese manufacturers are driving industrial upgrades to sharpen their edges, with tech-intensive green products gaining increasing traction in emerging markets.
China's Commerce Minister Wang Wentao said the country's trade policies toward trading partners, including the European Union, have consistently been stable, and welcomed European companies to increase their investment in China.
Faced with structural issues at home and mounting external uncertainties, China should put in place a mix of macroeconomic and industrial policies, alongside meaningful reforms, to spur effective demand, stabilize the property market, accelerate the shift from old growth drivers to new ones, and raise the nation's total factor productivity, economists said.
