Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference Economic Committee and Former Deputy Director of the Central Finance and Economics Commission Office Yin Yanlin: Economic Growth Rate Expected to Remain Stable This Year, Need More Forceful Measures to Promote Investment Stabilization

On March 4th, on the eve of the opening of the Fourth Session of the 14th National Committee of the Chinese People’s Political Consultative Conference, Yin Yanlin, Deputy Director of the Economic Committee of the National Committee of the Chinese People’s Political Consultative Conference and former Deputy Director of the Office of the Central Financial and Economic Affairs Commission, was interviewed by Securities Times at the Great Hall of the People. Yin Yanlin stated that this year’s economic growth is expected to remain steady. Total factor productivity is an important aspect of economic growth, especially from a long-term perspective, where improving total factor productivity is essential. However, at present, promoting economic growth is more about expanding domestic demand. Yin Yanlin believes that expanding domestic demand should start with both consumption and investment. In recent years, relevant policies have prioritized promoting consumption, and the next step is to focus on boosting investment. Stronger measures are needed to promote investment to halt its decline and stabilize, as well as to proactively plan some major projects in the “14th Five-Year Plan,” which will play a significant role in driving this year’s economic growth. (People’s Financial News)