1 month ago
38
China kept its economic growth target at roughly 5 per cent for the third year running.
New: You can now listen to articles.
This audio is generated by an AI tool.
China's annual National People's Congress kicked off on Wednesday (Mar 5), with Premier Li Qiang delivering a speech detailing the country's economic policies for the rest of the year.
China will keep its economic growth target at roughly 5 per cent, the same as the previous two years.
China's President Xi Jinping (left) and Premier Li Qiang attend the opening session of the National People's Congress (NPC) at the Great Hall of the People in Beijing on Mar 5, 2025. (Photo: AFP/Pedro Pardo)
It also announced a 7.2 per cent hike in its defence budget for the year, keeping pace with its 2024 figure as the country marches on with its military modernisation drive amid a troubled geopolitical landscape.
Experts said the figure is ambitious given that the world's second-largest economy is still grappling with a sluggish real estate sector, lacklustre consumer spending and a mounting trade war with the United States.
.png?itok=erLSagvf)
