China's National People's Congress concluded its annual meeting on Tuesday after setting this year's economic growth target at around 5 percent.
Nearly 3,000 delegates including Chinese President Xi Jinping voted on seven proposals in the final session at the Great Hall of the People in Beijing.
Resolutions which showed approval with an overwhelming majority include the government work report that targets this year's economic growth at around 5 percent, as well as the defense budget with a 7.2 percent increase from last year.
The government showed its intention to provide fiscal stimulus amid an economic slowdown, and promote policies with a priority on boosting consumption and expanding domestic demand.
The government aims to promote technological innovation with an eye on competition from the United States over advanced technologies including semiconductors. It stressed that it will develop new industries including in the field of artificial intelligence.
On Monday, China raised import tariffs on some US agricultural products in response to Washington's additional tariffs on Chinese products.
Observers say the focus is on whether China can maintain its economic growth amid intensifying trade friction with the US.
The third-ranked leader of China's ruling Communist Party and the chairperson of the National People's Congress, Zhao Leji, was absent from Tuesday's session due to a respiratory infection.
Nearly 3,000 delegates including Chinese President Xi Jinping voted on seven proposals in the final session at the Great Hall of the People in Beijing.
Resolutions which showed approval with an overwhelming majority include the government work report that targets this year's economic growth at around 5 percent, as well as the defense budget with a 7.2 percent increase from last year.
The government showed its intention to provide fiscal stimulus amid an economic slowdown, and promote policies with a priority on boosting consumption and expanding domestic demand.
The government aims to promote technological innovation with an eye on competition from the United States over advanced technologies including semiconductors. It stressed that it will develop new industries including in the field of artificial intelligence.
On Monday, China raised import tariffs on some US agricultural products in response to Washington's additional tariffs on Chinese products.
Observers say the focus is on whether China can maintain its economic growth amid intensifying trade friction with the US.
The third-ranked leader of China's ruling Communist Party and the chairperson of the National People's Congress, Zhao Leji, was absent from Tuesday's session due to a respiratory infection.
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Summary
Annual meeting of China's National People's Congress concluded, setting this year's growth target at around 5%. Delegates voted on seven proposals, including a 7.2% increase in the defense budget. Government aims to provide fiscal stimulus amid economic slowdown, focusing on boosting consumption
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ID: b46e1db6-63d9-42a1-b901-a0fca3fc8bcf
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20250311_25/
Date: March 11, 2025
Created: 2025/03/12 07:00
Updated: 2025/12/08 05:39
Last Read: 2025/03/12 07:43