China sets its economic priorities for 2025

1 week ago

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BEIJING, on March 5 / WAM / in Beijing today, the work of the third session of the 14th National Council of Chinese People’s Representatives, where the President of the State Council Lee Qiang reviewed in the government’s work of ambitious economic goals for 2025, which includes achieving growth in the gross domestic product by approximately 5%, reducing the urban unemployment rate to approximately 5.5%, and providing more than 12 million new job opportunities in urban areas.

The report has established ten priorities for government work this year, most notably promoting consumption, raising investment efficiency, developing new production powers, accelerating the implementation of economic reforms, expanding openness, preventing financial risks, promoting rural development, advancing the wheel of green transformation, and improving living standards.

The goals of the current year also include maintaining the rate of consumer price inflation at approximately 2%, ensuring the growth of population income with economic growth, maintaining a basic balance in the balance of international payments, in addition to reducing energy consumption for each unit of GDP by about 3% and continuous improvement in the environment.

The report emphasized that the current year represents the closing year of the 14th five -year development plan, calling for a focus on achieving high quality development as a basic task, and a balance between improving quality and expanding volume to achieve effective improvement in quality and reasonable growth in the quantity.

The China Central Channel reported that the Chinese economy achieved tangible stability during 2024 despite the pressures and challenges, which contributed to enhancing the country’s economic, scientific and technological capabilities.