The Chinese government aims to develop the country’s economy to reach 5% in 2025, as it is confronted with a new US US trade war of Donald Trump and enlarged dysfunction in its internal market.

According to a formal document consulted today by the French Agency, shortly before the big political appointment of the year, China sets a development goal ‘About 5%’identical to that of last year, which is generally in line with the forecasts of analysts. It also defines target the inflation remain close to 2%.

Beijing also wants to be created 12 million jobs in urban centers, according to the document.

Thousands of representatives gathered this morning (local time) in Beijing for the opening ceremony of the annual session of the National People’s Conference, the Chinese Parliament, which was scheduled to start at 09:00 (03:00).

The prime minister Lee Chiang was to present the ‘Activity Report’ of his government in his long speech, which will indicate the rough lines of China’s economic, social and foreign policy in the coming months.

It is also expected to officially refer to the goal of developing the GDP 2025. The goal of 5% seems rather ambitious, given the difficulties for the Chinese economy.

The Asian giant is facing real estate debt crisis, high unemployment, especially in the ranks of young people and atheist consumption, as its impulse has slowed down from the period of the new crowns.

Without counting the additional difficulties that Donald Trump brings.

The US president imposed a third new additional customs duties on products imported into the US by China yesterday after a similar measure announced last month.

These duties will affect hundreds of billions of dollars among China’s two largest economies.

During a press conference, the Lu Tsintzianspokesman for the annual meeting of the National People’s Conference, acknowledged yesterday that the Chinese economy is called upon to overcome “Many difficulties and challenges.” ‘Economic and political uncertainty on a global scale is increasing’he explained. “Internal demand is inadequate and some businesses face difficulties in producing and exploiting,” Continue.

Chinese exports reached record level in 2024.

But with the Beijing-Waysington trade war that resumed by Donald Trump, the country will need to find new growth engines.

China announced yesterday the first recipient measures to the new US duties and promised to fight “to the end” to defend its interests.

The Chinese authorities will impose additional duties up to 15% on a range of US products, especially soy, pork and corn, from March 10th.

Beijing measures are “comparatively measured reaction” given that Donald Trump’s duties are targeted by all Chinese products imported into the US, noted, noted Lynn Songan economist specializing in mainland China in ING.

“The reaction could be much stronger, but with any new escalation, the risk of a stronger response (than the US) is also magnified,” added.

The Chinese authorities may present within the week the outline of new measures to stimulate the economy, following a series of announcements that were characterized by the end of 2024.

Analysts believe that existing measures do not reach long enough to contribute to the economy.

“Beijing’s guidelines indicate that the public deficit will greatly increase this year.”Harry Murphy Cruz, responsible for the Chinese economy at Moody’s Analytics, was discounted by speaking to the French Agency.

‘We foresee a fiscal deficit of 4% of GDP’, From 3% previously, he added.

On the sidelines of its annual parliament meeting, China today announced its defense budget – the second largest in the world behind the US.

It will increase by 7.2% this year, as in 2024.

This rate of growth, which generally meets expectations, is included in the government’s government document.

Beijing plans to spend 1.78 trillion. Juan ($ 245.7 billion) for defense. Despite its enormous size, its budget remains submerged by that of Washington.

The USA is remained by far In the first place in the world in terms of military spendingwhich amounted to $ 916 billion in 2023, according to the International Research Institute for Peace based in Stockholm, Sipri. It was followed by China (296 billion), Russia (109), India (83.6), Saudi Arabia (75.8), Britain (74.9), Germany (67), Ukraine (66.8) and France (61.3).

The geopolitical rivalry of the two largest financial forces in the world will intensify this year, analysts warn. The Taiwan issue, which China considers its province, remains a major source of tensions in the bilateral relationship.

Donald Trump recommends a coordinated decline in US, Russia and China defense budgets. Beijing is probably distrust. A spokesman for the Chinese Foreign Ministry ruled last month that any reduction in military spending should first be examined by Washington, given their size.