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“China sets an economic growth target of around 5% | AP News Premier Li Qiang says China aims to achieve 5% economic growth this year but acknowledges it will be a challenging goal in difficult times. In his address to the annual session of the National People’s Congress on Tuesday, Li outlined plans to boost spending on developing advanced technology, fortifying China’s military and supporting the economy, among many other longstanding goals.”
“China’s Premier Li Qiang Approves Action Plan on February 10, 2025, to Boost… | DeepNewz China’s State Council, led by Premier Li qiang, convened on February 10, 2025, to discuss measures aimed at boosting domestic consumption and promoting wage growth. the meeting resulted in the approval of an action plan designed to stabilize foreign investment in the country. Key components of the plan include…”
“China goes all-out to keep foreign investors onshore amid Trump threats China has approved a new plan to attract overseas investors, after recording its steepest drop in foreign direct investment since the 2008 financial crash last year. … 11 Feb 2025. China has…”
China Sets Enterprising Economic Growth Target Amid Global Challenges
Table of Contents
In a recent address to the annual session of the National People’s congress, Chinese Premier Li Qiang outlined the country’s plans to achieve a 5% economic growth target for the year. This ambitious goal comes at a time when global economic conditions are challenging. Li also discussed strategies to boost spending on advanced technology and strengthen the military, among other longstanding goals.
Interview with Dr. Emily Chen, Economist and China Specialist
Economic Growth Targets and Challenges
Senior Editor (SE): Dr. Chen, thank you for joining us today. Could you start by explaining the importance of China’s 5% economic growth target?
Dr. Emily Chen: Thank you for having me. The 5% growth target is crucial for China as it aims to maintain stability and continuity in its economic growth. This target is especially vital given the global economic uncertainties and the need to support domestic consumption and investment.
Investment in Advanced Technology
SE: Premier Li also emphasized boosting spending on advanced technology. How do you see this impacting China’s economic landscape?
Dr. Emily Chen: Investing in advanced technology is a strategic move for China.It not only enhances its technological capabilities but also positions the country as a leader in innovation. This investment can drive economic growth by creating new industries and job opportunities, which is essential for sustaining long-term economic development.
Stabilizing Foreign Investment
SE: recently, China has approved an action plan to stabilize foreign investment. How effective do you think this plan will be?
Dr.Emily Chen: the plan to stabilize foreign investment is timely, given the recent drop in foreign direct investment.By providing incentives and creating a more attractive investment habitat,China can mitigate the impact of external pressures and attract overseas investors. This will be crucial for diversifying the economy and promoting growth.
Domestic Consumption and Wage Growth
SE: What role do you see domestic consumption and wage growth playing in achieving the economic growth target?
Dr. Emily Chen: Domestic consumption is a key driver of economic growth. By promoting wage growth, China can increase disposable income, which in turn boosts consumer spending. This creates a positive cycle that supports economic expansion and reduces dependence on external factors.
Global Economic Uncertainties
SE: How do global economic uncertainties effect China’s ability to achieve its growth target?
Dr.Emily Chen: Global uncertainties, such as trade tensions and fluctuations in the international market, can impact China’s economic growth. Though, by diversifying its economy and strengthening domestic demand, China can mitigate thes risks and maintain stability.
Conclusion
Dr. emily Chen provided valuable insights into China’s economic strategies and the challenges it faces in achieving its growth target. by investing in advanced technology, stabilizing foreign investment, and promoting domestic consumption, China aims to navigate global uncertainties and secure its economic future.