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China keeps its economic growth target at 'around 5%' despite a looming trade war


Published on 2025-03-04 21:42:23 - MSN
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  • China is keeping its economic growth target at "around 5%" for 2025 despite a looming trade war with the United States and other headwinds. The target for GDP growth was announced Wednesday in a report being presented by Premier Li Qiang at the opening session of the National People's Congress,

China has set its economic growth target at "around 5%" for the year, maintaining the same goal as the previous year despite facing challenges such as a looming trade war with the U.S., a property market crisis, and high youth unemployment. This target was announced during the National People's Congress, where Premier Li Qiang emphasized the need for high-quality development and economic stability. The government plans to implement policies to boost domestic demand, support the private sector, and manage local government debt risks. Additionally, China aims to create 12 million new urban jobs and keep the surveyed urban unemployment rate at around 5.5%. Despite these ambitions, analysts express skepticism about achieving this growth rate given the current economic headwinds, including deflationary pressures and a global economic slowdown.

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