China is poised to announce its economic targets for 2025 amidst rising uncertainty caused by trade war threats from US President Donald Trump. The National People's Congress will begin on March 5, where Premier Li Qiang will present the Government Work Report.
Key Economic Targets of China
According to a Tuesday Bloomberg update, the document aiming to achieve the country's economic goals will include targets for GDP growth, inflation, employment, and the fiscal deficit.
Growth Predictions and Reforms
Economists expect the Chinese government to focus on strengthening domestic demand, expanding social support measures, and ensuring stability in the labor market. A GDP growth target of around 5% is anticipated, with some analysts predicting a range between 4.5% and 5%. Inflation targets are likely to be revised, with Citigroup economists projecting a drop in the consumer price index goal from 3% to 2%.
Trade Tensions with the US
While China's policymakers aim to stabilize economic growth, they also face the threat of sanctions from the Trump administration.
China's planned economic goals and reforms are under threat due to potential escalation of trade tensions with the US, making this moment critical for Beijing's strategy.
