China’s top leaders aimed to convey confidence in the country’s economy despite challenges on Wednesday. Premier Li Qiang announced that China plans to expand its economy by approximately 5 percent in the upcoming year at the opening of the annual session of China’s National People’s Congress. The meeting, held in Beijing, showcases President Xi Jinping’s vision for China amidst significant global changes. He aims to enhance China’s technological capabilities, self-reliance, and military strength, emphasizing national security as a top priority.

Security is a key focus during the legislative session, with uniformed and plainclothes police and soldiers stationed at various checkpoints and subway entrances. President Xi and his administration have been working to restore confidence in the economy, which has been affected by the pandemic and a housing market crash. However, reaching the 5 percent growth target will be more difficult due to ongoing trade tensions with the United States.

China has refused to bow to U.S. pressure, with President Xi holding a rare meeting with business leaders, including Jack Ma, the founder of Alibaba. China has acknowledged the importance of private companies in driving growth and has been preparing for potential trade measures from the United States. Additionally, China has been strengthening its diplomatic engagement to counter U.S. pressure.

China is not only dealing with the trade war but also adapting to a dramatic shift in American foreign policy under President Trump. It has been engaging with Europe while increasing diplomatic exchanges with Russia, aiming to build stronger international partnerships.

Source: https://www.nytimes.com/2025/03/04/world/asia/china-economy-congress.html