China Sets Economic Growth Target and Boosts Global Confidence

On March 5, during the opening session of the 14th National People's Congress in Beijing, China announced an economic growth target of around 5% for 2025. This ambitious goal places China among the fastest-growing major economies globally. Despite global uncertainties, experts like Justin Lin Yifu from Peking University express confidence in China's sustained growth, projecting a significant contribution to global expansion.

China aims to uphold international fairness, opposing unilateralism while promoting equal globalization. The government work report highlights a proactive fiscal policy, setting the deficit-to-GDP ratio at 4% for the first time. This reflects China's strategy to enhance economic vitality, expand domestic demand, and improve foreign cooperation.

To support these goals, China plans to issue 1.3 trillion yuan in ultra-long special treasury bonds and invests significantly in domestic projects. Furthermore, the nation commits to innovation-driven development, advancing tech self-reliance and fostering an environment conducive to scientific progress.