China to implement more proactive macroeconomic policies in 2025: experts

China is expected to complement more proactive macroeconomic policies in the coming year, some economic experts said when they shared their opinions on the country's economic policies following the conclusion of the two-day Central Economic Work Conference in Beijing on Thursday.

Policymakers proposed that the economic work in 2025 should adhere to the principles of pursuing progress while ensuring stability, promoting stability through progress, upholding fundamental principles and breaking new ground, establishing the new before abolishing the old, promoting systemic integration and making coordinated efforts to enrich policy toolbox, and enhance the foresight, pertinence, and effectiveness of macroeconomic policies.

"The general requirement of China's macroeconomic policy is to make more proactive and effective macroeconomic regulations. In the past, we usually used one to three phases to describe such a requirement, but this year we used six phases. What does it mean? It means that the economic situation next year will be more complicated, and it also means that we must be more proactive and make good overall balance in our economic work next year. For example, the two requirements 'upholding fundamental principles and breaking new ground', and 'establishing the new before abolishing the old', are close integration between policy and reform methodology," said Dong Yu, executive vice president of the China Institute for Development Planning at Tsinghua University.

"In the conference, policymakers particularly emphasized the need to stabilize the property market and the stock market, boost confidence, and improve expectations. They also clearly stated the need to guard against and resolve risks in key areas and external shocks. These statements have never been mentioned before. This sent a signal to the whole society that the Chinese Communist Party (CPC) Central Committee has increased domestic macroeconomic policy support in order to continuously stabilize and improve China's economy, and hedge against the possible adverse effects of external shocks next year," said Bi Jiyao, vice president of the Chinese Academy of Macroeconomic Research.

Policymakers also stressed the need to strengthen coordination and cooperation among fiscal, monetary, employment, industrial, regional, trade, environmental protection, and regulatory policies and reform and opening-up measures.

"The statement of 'establish integrated economic system and make coordinated efforts' mainly emphasizes that the country's fiscal policy, monetary policy, industrial policy, and regional policy should cooperate with each other to jointly enhance the consistency of macroeconomic policy, and promote the continued recovery of China's economy," said Bi.

China to implement more proactive macroeconomic policies in 2025: experts

The Museum Berlin-Karlshorst, located about 15 kilometers from the city center of Berlin and on the historical site of German army's formal surrender at the end of World War II, witnessed the Nazi surrender and memorializes the ultimate triumph of anti-fascist forces.

On May 8, 1945, a surrender ceremony was held in that relatively undamaged building in Berlin, which had been selected by Soviet authorities to highlight their crucial role in the defeat of fascism.

According to the introduction of Jorg Morre, director of the museum, during the ceremony, Soviet Marshal Georgy Zhukov demanded German Field-Marshal Wilhelm Keitel sign the documents for the unconditional surrender of Nazi Germany, compelling all German forces to lay down their arms.

"Late on the night of May 8, 1945, representatives from various countries gathered in this hall to attend the ceremony that lasted around 40 minutes," Morre said.

Prior to this formal surrender, Nazi Germany had agreed to a preliminary capitulation in Reims, France, on May 7, 1945. However, the Soviet Union rejected its formality due to the absence of Soviet representatives. Therefore, the ceremony, held in Karlshorst under direct Soviet supervision, was deemed the definitive conclusion to the war. The event concluded with cheers in the signing hall, officially ending the war in Europe.

The museum now displays replicas of the three-language versions of the surrender document -- Russian, English, and German -- with the originals preserved in Freiburg. Through permanent exhibitions, the museum educates visitors on the war's devastation and the imperative of peace.

"I believe that as a museum here, its mission is to remember the events that occurred 80 years ago and present them clearly. Germany initiated World War II, and it bears historical responsibility for all the victims. Even though 80 years have passed, we should not forget this," Morre said.

German museum commemorates victory of World Anti-Fascist War