The Chinese government unveiled an annual economic growth target of “around 5%” on Wednesday, despite the possible negative impact of a looming trade war with the United States, and pledged to address what it called “sluggish” consumer spending at home.

The third session of the 14th National People's Congress of China opened on March 5, and Chinese Premier Li Qiang delivered the government work report, setting the 2025 economic growth target at about 5%,

China set its economic growth target at “around 5%” for 2025, the same as last year and in line with market expectations.