China has unveiled its economic plan for 2025, aiming for 5% GDP growth and the creation of 12 million urban jobs, as part of its strategy to maintain economic stability amid domestic and global challenges.

The announcement was made during the opening session of the National People’s Congress, where Premier Li Qiang emphasized the government’s focus on boosting domestic demand, fostering technological innovation, and enhancing investment opportunities.

To achieve these goals, Beijing plans to implement flexible monetary policies and offer incentives for businesses, particularly small and medium enterprises. The government is also prioritizing advanced technology and renewable energy sectors to reduce dependence on the real estate industry as the primary driver of growth.

The plan comes amid growing global economic pressures and ongoing trade tensions with the West, prompting structural reforms aimed at securing long-term sustainable growth while ensuring labor market stability and improving living standards.

China’s economy grew by 5.2% in 2024, supported by government stimulus measures and increased domestic demand. The government is now focused on maintaining this recovery momentum through strategic policies and financial support in key industries