China’s Legislature Prioritizes Economy and AI in Upcoming Congress
The National People’s Congress in Beijing will prioritize economic recovery and artificial intelligence at its sessions. Premier Li Qiang is expected to announce a 5% growth target amid economic challenges and U.S. trade tensions. Delegates will also consider laws to support private enterprises, reflecting a commitment to innovation and economic growth.
In Beijing, the upcoming meeting of China’s National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC) is poised to focus on critical issues, particularly the economy and artificial intelligence (AI). Approximately 2,900 delegates have gathered for this annual parliamentary event, which occurs concurrently with the CPPCC’s discussions, collectively referred to as the Two Sessions. Though largely ceremonial, these sessions provide insight into government priorities for the upcoming year.
During the week-long session, Premier Li Qiang is expected to propose an economic growth target of around 5%, consistent with previous years. This meeting occurs amid ongoing challenges facing the Chinese economy, including sluggish consumer demand, a protracted property crisis, rising government debt, and tensions with the United States, exemplified by recent tariff increases on agricultural imports in retaliation for U.S. trade measures.
“Undoubtedly, the adverse impacts brought by the external environment have deepened, and China’s economy still faces some difficulties and challenges,” stated Lou Qinjian, NPC spokesman. He emphasized the impact of international uncertainties on external demand and acknowledged insufficient domestic demand that has affected enterprise operations.
The government is anticipated to introduce strategies aimed at boosting consumption, potentially increasing the deficit ratio from 3% to 4%, though significant stimulus measures remain unlikely. Furthermore, the potential integration of AI into policy will also be a key focus, highlighted by the unveiling of China’s DeepSeek AI model, which serves as a representation of the nation’s innovative approach to technology advancement.
In addition to economic discussions, delegates are prepared to review a forthcoming law intended to enhance market conditions for private enterprises, reflecting the government’s commitment to supporting the private sector in driving economic growth. In this context, President Xi Jinping’s recent engagement with business leaders, including notable figures like Jack Ma and Ren Zhengfei, underscores the top leadership’s recognition of the private sector’s crucial role in economic stability and innovation.
“Xi realizes he needs the private sector to keep his underlying priorities chugging along,” remarked Neil Thomas from the Asia Society Policy Institute. The importance of harnessing the private sector’s innovative capabilities is viewed as vital for achieving technological self-reliance and boosting innovation.
The forthcoming sessions of the National People’s Congress and the Chinese People’s Political Consultative Conference will address the pressing issues of the economy and artificial intelligence. Amid challenges from sluggish growth and rising tensions with the U.S., government leaders will propose measures aimed at stimulating economic activity and enhancing the role of the private sector. The government’s commitment to embracing AI as a part of its forward-looking policies further underscores its ambition to maintain technological advancements and economic stability.
Original Source: apnews.com
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