China Targets Growth Amid Trade Tensions

China's government has set a five per cent economic growth target for this year despite ongoing trade tensions with the US and global uncertainties. The strategy focuses on boosting domestic consumption, investing in technology sectors, and supporting private enterprises. Meanwhile, Beijing retaliates against US tariffs with additional measures.

China's parliament opened its annual session with a challenging five per cent growth target, amidst a slowing economy and escalating trade war with the United States.

Premier Li Qiang underscored the target's importance, attributing last year's success to achieving the same growth rate in a 'complex external environment.'

Retaliating against US tariffs, China plans to stimulate domestic consumption and foster future industries, including AI and quantum technology, while encouraging foreign investment.