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China still has sufficient monetary policy space and tools and is the only country that still leverages conventional monetary policy, said Ma. "The PBOC has not yet used up all of its bullets at the same time."
China promulgated a dual-credit policy in 2017, which assesses carmakers in terms of both fuel consumption and new energy vehicle production.
China reported annual GDP growth of 6.1 percent in 2019, meeting the official target range for the year. A day before that China signed the phase one trade deal with the United States and analysts said the same will boost business confidence and support stable global economic growth this year.
China released a guideline to expedite reforms of the country's socialist market economy system on Monday as a major step in its pursuit of high-quality development.
China uses the annual political event to reveal its growth target and key economic agendas, which set domestic and international expectations. It usually also sets out major policy shifts and adjustments.
来源：资阳报