On February 18, Pan Gongsheng, Governor of the People's Bank of China, was invited to attend a seminar on emerging market economies jointly hosted by the international monetary fund and Saudi Arabia, and delivered a keynote speech. Pan Gongsheng pointed out that in 2024, China's economy continued to recover and achieve the annual economic growth target of 5%. Especially since late September last year, the Chinese government has launched a package of incremental policies, which effectively boosted social confidence and the economy rebounded significantly. In the next step, the Chinese government will implement a more active fiscal policy and moderately loose monetary policy, strengthen the counter-cyclical adjustment of macroeconomic policies, continue to promote the transformation of China's economic growth model, and consolidate and strengthen the economic recovery momentum.