The prime minister, Li qiangin a speech delivered at the opening of the annual meeting of the Chinese Parliament, he warned that “Changes are never seen in a century around the world at a greater pace”.
“An increasingly complex and severe exterior environment can exercise a greater impact About China in areas such as trade, science and technology, ”said Li.
China tries to alleviate US tariffs
The Commercial War with the management of Donald Trump Threat to the Chinese economy in a context of weakness in the demand of households and the collapse of the real estate sector.
Thus, the pressure on the Chinese authorities to adopt increased Consumer -centered stimulus measures. The end of this is to avoid deflationist pressures and reduce exports dependence and investment for growth.
The term “consumption“It was mentioned 31 times in the LI report, compared to 21 last year, while”technology”He received 28 mentions, slightly above 26 of 2024, according to Guotai Junan analysts.
“For the first time, promoting consumption has risen to the highest priority Among the main tasks of 2025, displacing the technology of its usual leadership position, ”he says Tilly Zhang, Gavekal Dragonomics technology analyst.
Consumption as a priority
“It is not a turn regarding the previous industrial policy, but about the search for a more balanced macroeconomic frame,” Zhang explained.
However, China said more than a decade ago that it wants to change a growth model more driven by consumptionwithout significant advances towards that objective and investors do not bet on this change in tone.
He Growth objective of approximately 5% by 2025 and a major budget deficit plan, of about 4% of economic production, which Li presented to Parliament confirmed December reuters information.
In Li’s speech, the progress of AI this year was talked more than in 2024 and It was promised to promote its application in sectors such as electric vehicles, smartphones and robots.
Beyond the 300,000 million yuan assigned to a recently expanded consumption subsidies for electric vehicles, appliances and other goods, Li’s speech contained few concrete aids for homes.
The Chief of Economy of China and Australia in Moody’s Analytics Harry Murphy Cruise He said that “that has been very successful when promoting spending on that type of goods” but that “spending remains very weak” in relation to lack of details about other consumption policies.
Source: Ambito
