0755 GMT - Beijing is likely to keep China's growth target at around 5% this year, Citi economists write in a note. The National People's Congress meeting, which starts March 5, will approve economic targets and the fiscal budget for 2025. The NPC targets won't be conditional on U.S.-China trade relations, as all the policy decisions are likely already made, they add. China is expected to maintain ambitious employment targets, while the consumer inflation target could be trimmed to around 2% for the first time since 2003 to reflect the low inflation reality in China, they say. Citi still expects fiscal expenditure to expand by 2.5 trillion yuan. With the PBOC staying in wait-and-see mode, Citi forecasts 50 bps policy rate cuts and a 100bp reduction in the reserve requirement ratio this year, starting from 2Q. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
February 14, 2025 02:55 ET (07:55 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。