BEIJING — Anticipation is mounting as China prepares to unveil significant measures aimed at revitalizing its economy on Friday, coinciding with the conclusion of the recent legislative meeting.

Experts argue that substantial financial interventions, potentially worth multi-trillion yuan, are essential to reinvigorate the world’s second-largest economy, which is still recovering from the impacts of the COVID-19 pandemic.

In late September, the central bank initiated a relaxation on borrowing restrictions that triggered a rally in the stock market; however, analysts assert that more aggressive actions are necessary to foster a sustainable economic recovery. Indications from government officials suggest that further actions may be announced during the current session of the Standing Committee of the National People’s Congress, which holds the authority to approve any new spending initiatives.

Over the past two months, the economy has shown promising signs of improvement. Incentives for consumers to swap older vehicles or appliances for new ones boosted auto sales in September. Furthermore, a survey of manufacturing activity indicated a positive shift in October following five consecutive months of decline, while exports surged by 12.7% last month—the highest growth rate observed in over two years.

Earlier in the year, the ruling Communist Party appeared more focused on addressing long-term structural challenges rather than immediate economic concerns. Measures to stimulate the economy were implemented in a fragmented manner, primarily aimed at maintaining stability rather than encouraging a vigorous rebound.

Recently, however, the party has expressed an increasing concern regarding the economy’s sluggish growth as it strives to meet its target of approximately 5% growth for the year. The central bank’s latest monetary easing initiatives have been met with assurances from government officials about the availability of substantial funds to support further economic intervention.

Nonetheless, it seems that the overarching objectives of transforming China into a high-tech and green energy economy will likely remain the primary focus of the Communist Party. This is especially true as they do not face the same electoral pressures that have influenced political dynamics in other countries, such as the recent developments in the United States.