China outlines economic goals for 2025, including boost in public spending

At the opening of the National People’s Congress in Beijing, Chinese Premier Li Qiang presented the country’s parliament with his government’s work report for 2025. Li stressed the importance of revitalising domestic consumption as a driver for economic growth, especially in a context of increased global trade tensions. For the first time in decades, deficit spending will reach 4 percent of GDP. Also in this edition: Europeans consider using Russian frozen assets to finance increased defense spending.