China has maintained its 2025 economic growth target at 5 percent, while committing to allocate more financial resources than last year to counter deflationary pressures and limit the impact of higher U.S. tariffs. This goal was set out in a government document prepared for the meeting of the National People's Congress (China's parliament).
China aims to raise its budget deficit to 4 percent of GDP in 2025, compared to 3 percent in 2024.
China is facing an escalation in the trade war with the administration of U.S. President Donald Trump, which threatens its huge industrial sector, at a time when the economy is suffering from slowing household demand and the fallout from the crisis of the debt-ridden real estate sector.
Source (Al-Arabiya.net Website, Edited)
