China Outlines Economic and Technological Strategy Amid Trade War Challenges

At the National People's Congress, China commits to boosting domestic consumption, stabilizing key industries, and advancing AI development as it faces global trade pressures.

China's leadership approved a 2025 economic growth target of approximately 5%, emphasizing domestic consumption to counter reduced export demand.
The government plans to invest 300 billion yuan in subsidies for new equipment and vehicles, alongside measures to raise low-income wages and expand social services.
Efforts to stabilize the troubled real estate sector include ensuring timely completion of housing projects and enabling local governments to support struggling developers.
Technological advancement remains a priority, with increased funding for industries such as AI, smart robotics, and electric vehicles to bolster China's global competitiveness.
China's defense budget will rise by 7.2% in 2025, with a focus on self-reliant military development amid heightened geopolitical tensions.