Overview

• 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.