Yu Yongding: Key to economic growth next year lies in fiscal expansion.

On December 27, Yu Yongding, a member of the Chinese Academy of Social Sciences, stated at the SanyaFinance International Forum and the Fifth Sanya Wealth Management Conference that the key to whether China's economic growth rate can be maintained at 5% next year lies in the expansion of fiscal policy. China has a large central fiscal policy space, and residents have a strong demand for government bonds, allowing for a significant increase in the deficit ratio. If the deficit ratio is raised to around 5%, the central government can issue large-scale bonds to support infrastructure investment.