Overview

• China announced a 5% GDP growth target for 2025 at its annual National People's Congress, maintaining the same goal as the previous year.
• The Chinese government plans to boost domestic consumption through subsidies, fiscal interest policies, and expanded trade-in programs for consumer goods.
• U.S. tariffs, imposed by President Trump, and tech export restrictions are seen as significant external challenges, with Beijing pledging to prioritize self-reliance in high-tech sectors like AI and green technology.
• China will expand a national venture capital fund to support startups in advanced industries, aiming to attract up to 1 trillion yuan in investments.
• Officials highlighted recent successes in innovation, such as AI advancements and global achievements in gaming and film, as evidence of China's resilience and adaptability.