Beijing
, March 5, 2025 (NAN) China has set its main targets for development in 2025 as Gross Domestic Product (GDP) growth of around five per cent, over 12 million new urban jobs, and grain output of around 700 million metric tonnes, among others.
The GDP growth target for 2025 is the same as the growth rate in 2024.
The Premier of China, Li Qiang, set out the plans for economic growth, foreign investment, and other areas while delivering the government’s work report at the Third Session of the 14th National People’s Congress (NPC), on Wednesday in Beijing.
The NPC is China’s supreme organ of state power and top legislative body with 3,000 members.
Photo: Reuters
Li said that, in proposing the targets, evolving dynamics at home and abroad and other relevant factors, including what would be needed and what would be possible, were considered.
“In setting the growth rate at around five percent, we have taken into account, the need to stabilise employment, prevent risks, and improve the people’s wellbeing, as well as the potential for growth and the conditions supporting growth.
“A target of around five percent is well aligned with our mid and long-term development goals and underscores our resolve to meet difficulties head-on and strive hard to deliver,” he said.
He said that regardless of changes in the external environment, China would remain steadfast in its commitment to opening up.
Recounting achievements of 2024, Li said they did not come easily because the adverse impact of changes in the international environment increased and some structural problems came up.
He, however, said that the difficulties were responded to with active and effective steps.
According to Li, internationally, changes unseen in a century are unfolding across the world at a faster pace.
He said that an increasingly complex and severe external environment might exert a greater impact on China in areas such as trade, science, and technology.
“Global economic growth lacks steam, unilateralism and protectionism are on the rise, the multilateral trading system is experiencing disruptions, and tariff barriers continue to increase.”
These, he said, are undermining the stability of global industrial and supply chains and impeding flows in the international economy.
“We should steadily expand institutional opening up and take the initiative to open wider and advance unilateral opening up in a well-ordered way, so as to promote reform and development through greater openness.
“We will work for stable development of foreign trade. We will bolster policies for stabilizing foreign trade and support enterprises in securing orders and exploring new markets.
“We will improve services related to financing, settlement, and foreign exchange, expand the scale and coverage of export credit insurance, and provide more support to enterprises participating in and organising exhibitions abroad.”
He noted that China had increased its unilateral opening-up efforts by adopting zero tariffs on all products from the least developed countries which had diplomatic relations with China.
Li said that China would expand the functions of overseas economic and trade cooperation zones, boost trade in intermediate goods, and help to diversify markets.
He also said that, in 2025, China would support integrated development of domestic and foreign trade and work faster to address issues concerning standards, certification, and market channels.
“We will host major trade events to high standards, such as the China International Import Expo, the China Import and Export Fair, the China International Fair for Trade in Services, the Global Digital Trade Expo, and the China International Consumer Products Expo.
“We will promote smart Customs development and cooperation to further simplify customs clearance procedures.
“We will vigorously encourage foreign investment and encourage foreign investors to increase their re-investment in China and support them in collaborating with upstream and downstream enterprises in industrial chains.”
Li said that China would ensure national treatment for foreign-funded enterprises in areas such as access to production factors, license application, standards setting and government procurement.
According to the premier, foreign investors will receive better services and support, and the launch of landmark investment projects will be expedited.
These efforts, he said, would help to make China a preferred destination for foreign investment.
Li added that China would strive for solid progress in pursuing high-quality Belt and Road cooperation and advance major signature projects and small but beautiful public wellbeing projects.
He said that China would deepen multilateral, bilateral, and regional economic cooperation and continue to expand its globally-oriented network of high-standard free trade areas.
Li affirmed that China would stay committed to an independent foreign policy of peace and to the path of peaceful development.
“We will remain firm in pursuing a mutually beneficial strategy of opening up, oppose hegemonism and power politics, oppose unilateralism and protectionism in all forms, and uphold international fairness and justice.
“China is ready to work with other members of the international community to promote an equal and orderly multi-polar world and universally beneficial and inclusive economic globalisation.
“In doing so, we will promote the building of a community with a shared future for mankind and create a bright future of world peace and development,” Li said. (NAN)
