China sets a growth target of 5%, strongly developing high technology

China sets a growth target of 5%, strongly developing high technology 0

(Dan Tri) – Prime Minister Li Qiang announced that China will set an economic growth target of about 5% this year.

Chinese Prime Minister Li Qiang spoke at the Chinese National People’s Congress session in Beijing on March 5 (Photo: Reuters).

China this week opened the second session of the 14th National People’s Congress (National People’s Congress) and the 14th National People’s Political Consultative Conference (Political Conference) at the Great Hall of the People in

Speaking at the congress, Chinese Prime Minister Li Qiang on March 5 said China will set an economic growth target of about 5% this year as the country strives to transform its development model and limit the situation of economic growth.

China’s growth target this year is similar to last year’s, but a stronger push from the government will be needed for China to achieve its target.

The slow recovery from the Covid-19 pandemic over the past year has exposed China’s deep structural imbalances, prompting calls for a new development model.

`We should not ignore the worst situations and should be well prepared for all risks and challenges. In particular, we must promote growth model transformation, structural adjustment, quality improvement and

According to Mr. Ly, when setting growth targets, policymakers `took into account the need to increase employment and income as well as prevent and minimize risks.`

Growth of 5% is considered anĀ ambitious target for China amid weak real estate markets and consumer demand.

New productive forces

Premier Li Qiang said that China will continue to invest resources in technological innovation and advanced manufacturing, in line with President Xi Jinping’s efforts on `new productive forces`.

`New productive forces` is a concept first introduced by Chinese President Xi Jinping in September 2023, describing measures to promote strategic industries, including artificial intelligence.

Accordingly, China will lift all foreign investment restrictions in the manufacturing sector and ease market access restrictions in service industries such as telecommunications and healthcare.

Beijing will also draw up development plans for emerging industries, including quantum computing, big data and artificial intelligence, and continue efforts toward technological self-reliance.

Overcome US sanctions

Mr. Lau Qianjiem, speaker of this year’s Chinese National Assembly session, announced US sanctions and other measures to prevent China in the technology sector, including 5G technology and semiconductors.

`For any technology known to man, the US cannot stifle China’s development. It is only a matter of time before we make progress in this field,` Lau said today.

`China is steadfast in its determination to be self-reliant in science and technology. No technological obstacle is too big to overcome as long as we persevere in our efforts,` the spokesperson emphasized.

According to Lau, China’s response to the US’s containment strategy is not self-isolation but a call for global cooperation and technological innovation.

`We will strengthen the creation, application and protection of scientific and technological intellectual property rights. We will also actively participate in the global innovation network, jointly promoting basic research, creating

He added that White House activities that seek to decouple, disrupt supply chains or adopt a `small yard, high fence` approach to China only hinder global technological progress, making

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