China targets 5% economic growth despite tariffs

Chinese Premier Li Qiang stands at the podium during his speech at the opening session of the National People’s Congress, or NPC, at the Great Hall of the People in Beijing, China. Photograph: Lintao Zhang/Getty Images China has set an ambitious growth target of around 5 per cent of GDP for 2025 despite the threat of an escalating trade war with the United States and a stubbornly sluggish domestic economy. The target remains unchanged from 2024 but premier Li Qiang acknowledged the headwinds facing the Chinese economy and promised an action plan to boost consumption. Mr Li, who is the…