China Sets 5% Growth Target Amid Economic Challenges and Trade Disputes

Beijing announces ambitious economic goals during National People's Congress while countering U.S. tariffs and domestic hurdles.

China's Premier Li Qiang announced a 5% GDP growth target for 2025, focusing on stabilizing employment and improving public welfare.
The Chinese government plans to create 12 million urban jobs and aims to maintain a 2% inflation rate this year.
Economic challenges include weak domestic demand, a prolonged real estate crisis, and deflationary pressures.
Tensions with the U.S. escalate as President Trump doubles tariffs on Chinese imports to 20%, prompting retaliatory measures from Beijing on American goods.
China's leadership is increasing investments in technology, artificial intelligence, and defense, while expanding its budget deficit to 4% of GDP to bolster economic activity.