Beijing – Take advantage of the power of artificial intelligence and underpin the economy They are among the problems that are expected to exceed the agenda when the China Legislature meets Wednesday in Beijing.
Almost 2,900 delegates have arrived in Beijing for the annual Parliament session to a large extent of rubber print, the National People Congress. Concomitantly, an advisory agency for business leaders, athletes and academics, the Chinese people’s political advisory conference, was convened on Tuesday. The concurrent meetings of the two bodies are known as the Two sessions.
The parliamentary session of a week, although largely ceremonial, helps indicate government priorities for the year. Prime Minister Li Qiang is expected to announce an economic growth objective of around 5%, in line with recent years.
Meetings occur as China’s economy fights with a slow consumption, a long real estate crisis, a government debt and a possible renewed. Commercial War With the United States. On Tuesday, Beijing announced additional tariffs up to 15% In imports in American agricultural products, such as chicken, pork, soybeans and beef. The measure occurred in retaliation for an increase in the Flat rates of the USA. In Chinese products, from 10% to 20%, which entered into force at the same time.
“Without a doubt, the adverse impacts brought by the external environment have deepened, and China’s economy still faces some difficulties and challenges,” said Lou Qinjian, spokesman for the National People’s Congress at a press conference before the session.
“Internationally, the growing economic and political uncertainties make it more difficult to stabilize external demand. At the national level, the demand is insufficient, and some companies are experiencing operational difficulties, ”he added.
The government is expected to announce some measures to increase consumption, such as increasing the deficit ratio from 3% to 4%, although the massive stimulus is unlikely.
Taking advantage of the power of artificial intelligence can also appear in policy ads.
Lou described China’s advance Ai Depseek ModelPresented earlier this year, as an example of the “innovative and inclusive approach of technology” of the country.
Delegates are also ready to review a law aimed at improving market conditions for private companies, as part of the broader government effort to indicate support to the public sector to underpin growth.
Chinese president, Xi Jinping, met in February with Business leaders, including the founder of Alibaba, Jack Ma and the CEO of Huawei, Ren ZhengfeiSignaling of support to the highest level of leadership.
“XI realizes that the private sector needs to maintain its underlying priorities,” said Neil Thomas, a member of Chinese politics at the Asia Society Policy Institute. “Improving China’s innovation capabilities, improving China’s technological self -sufficiency: the private sector is quite good in these things, and XI wants to take advantage instead of freeing the energy from the private sector to achieve these objectives.”
Beijing is also expected to present its defense budget by 2025. Last year, China announced a 7.2% increase in its Defense budgetwhich is the second highest in the world behind the United States.
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Associated Press’s writer Ken Muritsugu contributed to this report.
