Bijing
Cnn
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Chinese leaders have spent last week unveiling their plan to advance the world’s second -largest economy by turning the country into a technical powerhouse and increasing costs to target an expensive target of development.
To approve the project, thousands of representatives who gathered in Beijing for the weekly “two sessions” of China’s weekly “two sessions” of the most political advisory agency of its rubber stamp and high political advisory agency.
The stake is very high for the Chinese government, and Xi Jinping, the country’s most powerful leader for decades, to correct the steps.
Beijing needs to fix a domestic affairs fleet, including a wider property crisis, the elimination of high local government debt and weak demand of consumers, while President Donald Trump has promoted revenue on Chinese imports, and expanding US investment in China.
On Sunday, new data showed that China’s consumer prices rose to the bottom in 13 months in February, indicating a permanent defense pressure dragging on the economy.
Chinese leaders were clear about the challenges coming forward, even when they trusted China’s future. Premier Lee Kiang said at the inauguration of the National People’s Congress (NPC) on Wednesday that the goal of development of the country is about 5 % “indicates our commitment to meet the problems and strive for the supply.”
Extreme choreography is about a large number of political ceremonies as the real power of decision -making is with the ruling Communist Party of China.
But the preference outline was presented – and indicators sent by XI and its officials during the event – an important window gives that Beijing aims to ensure China’s constant economic growth and technical rise, especially in its relationship with the United States and uncertainty.
The key three way from the event are these:
Pay attention to AI and ‘future industries’
At this year’s gathering, artificial intelligence (AI) was a hot topic, in which China’s enthusiasm was with China’s enthusiasm through the breakout success of Tech firm Deep Sak.
The Chinese company’s large -language model, released in January, released in January, surprised the Silicon Valley and pleased the country. This model looked closely to the capabilities of its US rivals, despite years of US sanctions on Chinese access to Chinese access to high -power AI chips commonly used for training such models.
China’s Economic Tasar on Thursday announced a state -backed fund to support AI and other technical innovations, which estimates that about 1 trillion yuan ($ 138 billion) in 20 years from local governments and the private sector will attract investment.
The government’s work report, a document containing about 30 -page document that has been presented to Beijing for next year, has called for the country “to promote emerging industries and future industries” such as biotechnology, quantum technology, statue AI and 6G technology. It also emphasized that China needs to enhance its domestic capabilities and improve the country’s research and development.
This is part of the XI’s important point of view: China’s industries have to change with high -tech innovation and ensure that the country is technically self -sufficient in facing US efforts to limit Chinese access to security concerns.
“China is sending a signal to the outside world that it is now free from the United States,” said Wang Yavi, director of the Institute of International Affairs at Renaman University in Beijing. “Now we have to do (technological innovation)… it is like two circles of innovation.”
XI also indicated that it was on the list of some new muscles for his high -tech push. Last month, the leader met with the heads of the country’s largest tech firms at the symposium and told them that for private businesses, “have to play their skills”.
The gathering was an important tone toward an industry that is still recovering from a year-long regulatory crackdown-and XI reinforced his message during a meeting on the edge of the NPC last week, where he told the delegates to “completely” to the “spirit” of the symposium.
To raise demand and juice
Officials also announced that they would support the target of their “5 %” growth target with stronger government spending, and increase the budget deficit by about 4 % of the total domestic products, which is the highest level in decades.
But some analysts are skeptical about whether the steps that have been announced in recent times will be enough to present the expected hit if the trade war with the United States increases – and this year China has been listed as its top priority: increasing consumer demand.
Premier, Lee, The Premier Lee said in his address on Wednesday that China made “fast” to remove inadequate demand for domestic demand and make it a “central engine” of development.
The unemployment, social benefits and welfare of high youth, the difference in the stock market, as well as the financial instability caused by the property sector crisis, are all viewed as factors that make many people in China save their economic future with uncertainty.
Now this problem is becoming more important for Beijing, which will require more domestic consumers more than ever before, the need to remove the fresh US revenue, a major driver of development, development. On March 4, Trump doubled the Levies on all Chinese imports to the United States. China’s retaliation tariffs, which target agricultural imports from 10 % and 15 % from the United States.
Chinese officials have recently outlined efforts to increase consumption such as expansion of a program for trade in old equipment in recent times, and said they will generate jobs, increase wages, promote free preschool education and increase major services.
He also urged the country to assure that he was dealing with permanent challenges in the non -immortal sector, including a procedure for helping to buy home -selling homes due to the property sector crisis.
“(Beijing is),” (Beijing is), “said Victor Shi, the director of the 21st -century China Center University, California San Diego, saying that increasing consumption with better welfare policies, or (such policies) to buy people with new consumer electronics, a priority for new consumer electronics.
However, it was a large -scale mandate that the central government was looking for local governments to fund, and most provinces would not have money for these efforts without taxing, “which would reduce consumption,” he added.
Despite the challenges – and despite the uncertainty that the leash and commercial veins with the United States will continue to increase, Beijing’s message last week was a source of confidence, no matter what. This is a message that is apparently aimed at home and Washington.
At an annual press conference on the occasion of the gathering, an important opportunity for China to discuss international media on its foreign policy, Foreign Minister Wang Yi’s purpose was to cast China as a stable global player, unlike the United States and its “US First” policy. He also vowed that the Chinese country would continue to move forward in its ambitions.
“Where there is a blockade, there is progress. Where there is pressure, there is an innovation.
The top diplomat also criticized US prices, saying: “No country should imagine that it can suppress China on the one hand and build good relations with China on the other.”
Earlier in the week, there was a spokesman for the Foreign Ministry: “If the United States insists on fighting a tariff war, trade war, or any kind of war, China will fight until the end,” he told reporters at a regular briefing.
But out of official lines, how some pockets can completely prevent growing hopes in pockets will depend on how the statements translate in the next year.
“The mood is more hopeful this year,” said Yo Yang, a professor of Economic Research at the University of Packing University.
“But it depends on government policy to continue this mood. If the government’s actions to mobilize the economy and support the private enterprise are not decisive, then this mood will end.
