The government of China announced new fiscal stimulus measures on Wednesday aimed at strengthening consumption and mitigating the effects of the growing trade war with the United States.
The Chinese economy, facing external and internal pressures, maintains its growth target around 5% for 2025.
Beijing strengthens its strategy in a challenging global environment
During the opening of the annual meeting of the Chinese Parliament, Prime Minister Li Qiang warned of a complex and volatile international landscape that could affect key areas such as trade, science, and technology.
"Unprecedented changes in a century are happening worldwide at a faster pace," said Li, referring to the challenges facing the world's second-largest economy.
One of the major pressure factors is the trade war with the United States, led by former President Donald Trump, who has imposed tariffs on several countries, altering the global trade order. This situation affects the Chinese industrial sector, coupled with weakened domestic demand and a real estate sector in crisis.
Consumption becomes a priority for the Chinese government
Li's speech reflected a shift in the country's economic priorities. The word "consumption" was mentioned 31 times, compared to 21 last year, while "technology" appeared 28 times, just above the 26 mentions in 2024.
