The trade war with US President Donald Trump adding to China's economic woes
BEIJING – China unlocked more fiscal stimulus on Wednesday, promising greater efforts to support consumption and cushion the impact of an escalating trade war with the United States on an economy that Beijing is determined to grow by another 5%-or-so this year.
Trump has also dangled tariffs at a long list of countries, disrupting a decades-old global trade order that Beijing has built its economic model around. "It’s not a pivot from the previous industrial policy, but pursuing a more balanced" macroeconomic framework, Zhang said. AI advancement was given more space in Li's speech this year compared with 2024, with promises to foster its application in sectors including electric vehicles, smartphones and robots.The roughly 5% growth target for 2025 and a larger budget deficit plan of around 4% of economic output that Li presented to parliament confirmed a December Reuters report.
"That's been super-successful in boosting spending on those types of goods," said Harry Murphy Cruise, head of China and Australia economics at Moody's Analytics.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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