During the inauguration of the National People’s Congress in Beijing, Chinese Premier Li Qiang unveiled his government’s work report for 2025 to the national parliament. Li emphasized the necessity of energizing domestic consumption as a catalyst for economic expansion, particularly in light of escalating international trade tensions. In an unprecedented move, the government will embark on deficit spending amounting to 4 percent of GDP, marking the first such occurrence in decades. As a notable point in this release, European countries are exploring the possibility of utilizing Russia’s frozen assets to bolster their defense expenditure.

Source: https://www.france24.com/en/tv-shows/business/20250305-china-outlines-economic-goals-for-2025-including-boost-in-public-spending