China's government is planning to set ambitious economic targets for 2025, with a budget deficit-to-GDP ratio expected to reach a record 4%, amid efforts to stabilize the economy and achieve an annual growth rate of around 5%.
The targets, which will be formally announced in March 2025 at the National People's Congress, may be adjusted based on actual conditions.
The government's decision to increase the budget deficit marks a significant shift from previous years, as it will provide a much-needed boost to the country's economic growth and support key sectors.
The 2025 economic growth target, which is expected to be around 5%, is a key indicator of China's economic performance and will have implications for the country's global economic standing.
The National Development and Reform Commission (NDRC), China's top economic planner, is working with various government agencies to finalize the 2025 targets, and the plans will be based on a comprehensive review of the country's economic performance in 2023 and 2024.
The government's focus on economic growth and development is expected to continue in 2025, with a focus on key sectors such as technology, healthcare, and education.
The Chinese government's ambitious economic targets for 2025 present a significant opportunity for businesses to invest in the country and tap into its vast market.