ING – China’s Two Sessions economic targets signal greater confidence

China’s economic goals for 2025 were announced at the National People's Congress.

Key takeaways include setting a GDP growth target of 'around 5%', increasing support for domestic demand through more active fiscal and monetary policies, raising targets for the issuance of local government special bonds and long-term bonds, and shifting monetary policy from 'prudent' to 'moderately accommodative', with expected cuts in interest rates and reserve requirement ratios.