China’s top policymakers will gather in Beijing this week for the annual “two sessions”, where they will outline major economic targets and policy priorities to help the country navigate mounting challenges. The National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC) will set the stage for Beijing’s 2025 policy playbook.
Faced with sluggish domestic demand, deflationary pressures, and heightened US-China trade tensions, China is expected to focus on boosting domestic consumption and tackling key economic risks. Analysts predict a GDP growth target of around 5% for 2025, aiming to stabilize expectations and show commitment to supporting the economy. However, some experts consider this goal ambitious given lingering growth headwinds and uncertainties.
Key areas to watch include fiscal stimulus plans, housing market risks, tech innovation, and inflation targets, such as the consumer price index (CPI). The government work report, delivered by Premier Li Qiang at the opening session of the NPC meeting on Wednesday, will provide insight into Beijing’s major economic priorities for 2025.
Source: https://www.scmp.com/economy/china-economy/article/3300471/two-sessions-set-unveil-chinas-top-economic-priorities-year