China's Bold Economic Vision: Growth, Innovation, and Proactive Policies

President Xi Jinping announced China's commitment to meeting its economic growth target with proactive policies and a focus on technological innovation. Despite challenges, including trade tensions and a property crisis, China aims to maintain resilience and social stability while pursuing technological self-sufficiency.

China is steadfast in its pursuit of economic growth, aiming for a 5% increase in GDP this year, President Xi Jinping announced. To achieve this, the country plans to introduce more proactive policies by 2026, amidst escalating commitments to stimulate growth.

Despite facing a slowing momentum due to soft household consumption, deflation, and a prolonged property sector crisis, China's robust export performance has kept the economy buoyant. However, potential trade tensions loom with partners urging reforms to reduce export dependence.

Xi emphasized China's advances in technological innovation, citing breakthroughs in AI and chip development. The focus on self-reliance in technology comes amidst US attempts to restrict Chinese access to advanced chipmaking tools. With significant investments in the semiconductor industry, China's economy shows resilience and continues to innovate.

(With inputs from agencies.)