China Concludes 'Two Sessions' with Focus on Economic Revival and High-Tech Innovation

Leaders set a 5% growth target, emphasize private sector support, and address U.S. trade tensions while unveiling plans for technological self-reliance.

• China's National People's Congress set an ambitious economic growth target of 5% for 2025, raising questions about the feasibility of achieving it without additional stimulus measures.
• Leaders emphasized boosting domestic consumption, unveiling policies to enhance household incomes, ease credit, and stimulate spending, but analysts remain skeptical about their effectiveness.
• Technological innovation, including artificial intelligence and quantum technology, was highlighted as a key driver of economic growth, with plans for significant investment in high-tech industries.
• The government signaled renewed support for the private sector, which has faced regulatory challenges in recent years, aiming to restore confidence and promote growth.
• Amid escalating trade tensions with the U.S., Chinese officials criticized American tariffs and underscored their commitment to self-reliance and innovation in response to external pressures.

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