Minister of Finance Lou Jiwei: China will adopt a more proactive macroeconomic policy and is confident in achieving the growth target of around 5% by 2025.

From May 4th to 7th, the 58th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) was held in Milan, Italy. China's Minister of Finance and ADB Governor for China, Lou Jiwei, attended the meeting and delivered a speech, as well as engaging in a series of bilateral discussions. Lou Jiwei pointed out that China is both a beneficiary and a contributor to economic globalization, with its contribution to global economic growth remaining at around 30% in recent years. China achieved a good start in the first quarter of this year with a GDP growth of 5.4% year-on-year, and is confident in achieving the growth target of around 5% by 2025. China will take more proactive macroeconomic policies and continue to build a unified domestic market, expand high-level opening up to the outside world, share development opportunities and dividends with the world, particularly with Asia-Pacific members, to address the challenges of the times and create a better future for the Asia-Pacific region. During the meeting, Lou Jiwei held bilateral meetings or exchanges with ADB President Masatsugu Asakawa to discuss ADB's future operational development, sharing of Chinese development experiences, and cooperation between China and ADB. This article is excerpted from the official website of the Ministry of Finance; translated by GMTEight: Huang Xiaodong.