China Signals Confidence in Economy Despite Sluggish Growth and U.S. Trade War
China’s top leaders sought to project confidence in the country’s economy on Wednesday despite sluggish growth, an escalating trade war with the United States and growing geopolitical uncertainty caused by the Trump administration.The government set a bold target for the year, with Premier Li Qiang, China’s highest-ranking official after Xi Jinping, saying that China would expand its economy by “around 5 percent” in a report at the opening of the annual session of the country’s rubber-stamp legislature.The meeting in Beijing, called the National People’s Congress, is a tightly scripted political pageant, showcasing how Mr.Xi plans to lead China through what he has often described as “great changes unseen in a century” in the world.That vision includes lifting China’s technological prowess and self-reliance and beefing up its military capabilities so it can dominate the Asia-Pacific region.
It is focused on strengthening the ruling Communist Party’s grip on power by making national security a priority for all facets of Chinese society.Security is a top priority at the legislative session, which brings around 3,000 delegates to the Great Hall of the People.
Uniformed and plainclothes police and soldiers were posted at several checkpoints on major roads near the venue and on pedestrian bridges, while entrances at nearby subway stations were temporarily closed.Mr.
Xi and his top officials have been trying to restore faith in the economy, which has struggled to regain momentum after being battered by the pandemic and a housing crash that wiped out much of the wealth of many middle-class Chinese.But reaching that target of around 5 percent growth will be even harder than in previous years because of a trade war with the United States that shows few signs of abating.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.
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