China’s Legislative Session Set to Address Economy and Artificial Intelligence
The National People’s Congress in China will focus on economic recovery and artificial intelligence. Premier Li Qiang is expected to set a 5% economic growth target amid ongoing economic challenges, including sluggish consumption and external trade tensions. The session will also address private sector support and unveil the defense budget for 2025.
Beijing is set to address critical issues at the upcoming session of the National People’s Congress, focusing on economic recovery and the integration of artificial intelligence. The parliament’s annual gathering, which involves nearly 2,900 delegates, coincides with the Chinese People’s Political Consultative Conference, known as the Two Sessions. Although the session primarily serves a ceremonial role, it establishes the government’s priorities for the forthcoming year.
During this session, Premier Li Qiang is anticipated to present an economic growth target of approximately 5%, consistent with previous years. The backdrop for these discussions includes a troubled economy plagued by weak consumer spending, a protracted property crisis, increasing government debt, and rising tensions with the United States, exemplified by new tariffs imposed on U.S. agricultural imports.
Lou Qinjian, spokesperson for the National People’s Congress, emphasized the increasing challenges posed by both domestic and international pressures. He noted the insufficiency of demand in the domestic market and the operational difficulties experienced by several enterprises, highlighting the need for strategic measures to stimulate consumption. The government is expected to increase the deficit ratio to 4% while refraining from extensive stimulus packages.
Furthermore, a focus on artificial intelligence governance is likely to be present in the legislative agenda. The unveiling of China’s DeepSeek AI model exemplifies an innovative stance toward technology, as presented by Lou. Delegates will also review legislation aimed at improving market conditions for private enterprises as part of the government’s commitment to bolster private sector growth.
In a show of leadership support, Chinese President Xi Jinping met with prominent business figures, including Alibaba’s founder and Huawei’s CEO, signaling the importance of private enterprises in achieving national priorities. Neil Thomas, a fellow at the Asia Society Policy Institute, remarked on Xi’s recognition of the private sector’s potential role in advancing China’s technology and innovation goals.
Lastly, the session will likely include details on China’s defense budget for 2025, following a notable 7.2% increase in the previous year, marking its position as the second-highest in the world, following the United States.
The upcoming National People’s Congress session is poised to address significant issues surrounding economic stabilization and advancements in artificial intelligence. With the government aiming for modest economic growth and acknowledging challenges within the domestic market, the emphasis on technology integration and private sector support will be critical. These discussions will reflect China’s strategic priorities amid complex international dynamics.
Original Source: www.newsday.com
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