China has space to step up support for the economy, given that its central government debt burden is relatively low and consumer prices are also low, Wang said.
China's consumer prices fell at the fastest rate in three years in November.
Wang said China may be able to cut interest rates as the Federal Reserve has likely stopped raising its own rates, although a wide interest rate gap between the two countries and worries about the impact on banks could act as constraints.
At the annual Central Economic Work conference held from Dec 11-12, Chinese leaders pledged to adjust policy to support an economic recovery in 2024.
China's growth is expected to hit the government's target of around 5 per cent this year.
The South Korean-owned automotive supplier, BC GEN Hungary Kft., has announced a new investment of HUF 21 billion, which will create 400 new jobs in Salgótarján. The announcement was made by Minister of Foreign Affairs and Trade Péter Szijjártó in Budapest on Tuesday.
In recent years, China has pivoted its investment strategy in Central Asia, particularly in Kazakhstan and Uzbekistan, towards renewable energy projects. Notably, agreements were signed in 2023 for Chinese companies to build substantial solar photovoltaic plants in multiple Uzbek regions, representing a total of $4 bn in investment.
Japan welcomed a record 17.78 million foreign visitors in the first half of 2024, the country’s tourism agency has said, as the weak yen helped drive tourist numbers above pre-pandemic levels.