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China keeps economic growth target at ‘around 5 per cent’ for 2025 despite looming U.S. trade war

News Snapshot:

China is keeping its economic growth target at “around 5 per cent” for 2025 despite a looming trade war with the United States and other headwinds. The target for GDP growth was announced Wednesday in a report being presented by Premier Li Qiang at the opening session of the National People’s Congress, the annual meeting of China’s legislature. It reflects the government’s hopes to stabilize but not supercharge growth in challenging economic times. The IMF has projected China’s economy will grow 4.6 per cent this year, down from 5 per cent in 2024, according to Chinese government statistics. “A target…

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