As China's two sessions have set the economic growth target of around 5 percent for 2025, economists and analysts have highlighted boosting domestic consumption, fostering high-tech growth and healthcare-related sector as some of the key grippers to drive the growth momentums of the world's second-largest economy.

During this year's two sessions, which concluded on Tuesday, thousands of national lawmakers and national political advisors have been briefed about the development situation of the country and they have expressed full of confidence that China will achieve its socio-economic goals set for the year.

Year 2025 also marks the final year of China's 14th Five-Year Plan (2021-25) period and is also crucial to crafting the next five-year blueprint.

On March 5, China set an annual GDP growth target of around 5 percent for 2025, according to the Government Work Report. Other economic targets were also unveiled, with the deficit-to-GDP ratio being set at approximately 4 percent while the surveyed urban unemployment rate was targeted at around 5.5 percent. The country also eyes over 12 million new urban jobs, and an around 2 percent increase in the consumer price index. 

Economists said given domestic pressure and external headwinds, China's economic policies in 2025 will focus on the expanding domestic consumption, carrying out more key large projects, tapping the vitality of the private-sector, fostering high-tech growths, ensuring the coordination of fiscal and monetary policies, while effectively preventing and defusing risks in key areas and ensuring that no systemic risks arise.

Concerning some foreign media outlets' questions on China's economic prospects, Chinese analysts said the country's economic plan is clearly drawn and well-laid, with fiscal support expected to be frontloaded in the first quarter, followed by enhanced investment in major projects, while the push to expand domestic demand continues.

Consumption a priority

Zhang Jianping, deputy director of the academic committee at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Wednesday that it is expected government at all levels will increase efforts in expanding consumption and bolstering investment this year in accordance with the arrangements laid out by the central government.

"In particular, the progress on key infrastructure projects will be accelerated, private-sector participation to big projects will be further encouraged, and eligible real estate companies are expected to secure more loans," Zhang said. 

For consumption, the trade-in programs, which has propelled retail sales growth of durable goods including home appliances to double-digit growth, will continue to provide growth impetus to the economy with its expanded scale, Zhang said, noting that this year will likely see a marked rise in sales of consumer products newly added in the trade-in programs.

Ultra-long special treasury bonds totaling 300 billion yuan ($41.31 billion) will be issued to support consumer goods trade-in programs, according to the Government Work Report. The amount doubles the 150 billion yuan arranged in the third quarter of last year.

Cao Heping, an economist at Peking University, told Global Times on Wednesday that recent signals suggest a more proactive approach in 2025, with fiscal funds likely to be funneled through banking and non-banking institutions in the first quarter to accelerate policy coordination at local levels. "The funds are usually allocated in the first quarter," Cao said.

Dong Shaopeng, a senior research fellow at the Chongyang Institute for Financial Studies at Renmin University of China, stressed accelerating equipment upgrades and trade-in programs while boosting spending in tourism, electronics, entertainment, elderly care, and healthcare to strengthen consumer confidence and drive demand.

In the meantime, efforts will also focus on stabilizing the property market and the stock market to maintain household wealth expectations while encouraging investment from both state-owned and private enterprises, Dong said.

All three experts believe China still has room for monetary policies to support fiscal measures.

"This year's Government Work Report outlined several ongoing policies, with boosting domestic consumption remaining a top priority. Over 300 billion yuan in special treasury funds will be allocated to support commercial consumption. The move is significant, and swift implementation is expected," Li Qingbin, research fellow at the Institute of Economic Research of the National Development and Reform Commission, told the Global Times on Wednesday.

New highlights

Tapping the potential of technologies will also be one of the highlights this year, as fostering sci-tech innovation has become a key buzzword in the Government Work Report, according to experts.

With the success of homegrown high-techs from DeepSeek's artificial intelligence (AI) chatbot to UniTree's humanoid robot grabbing eyeballs since the start of the year, economists and analysts said further tapping China's sci-tech advance, such as the implementing of the " AI Plus" strategy, will further inject growth momentum into the economy.

"Deep learning models like DeepSeek are emerging as new growth drivers, integrating AI with sectors such as healthcare and advanced education to create fresh economic opportunities," Cao said. He added that with stronger policy support, this field is poised to become an investment focus, accelerating implementation and further enhancing the profitability of the digital economy.

China vowed to establish a mechanism to increase funding for industries of the future and foster industries such as biomanufacturing, quantum technology, embodied AI, and 6G technology, per the Government Work Report. The large-scale application of new technologies, products, and scenarios is also stressed.

High-tech areas have proved to be a major driver for boosting investment. In end February, Chinese e-commerce giant Alibaba announced plans to invest at least 380 billion yuan in its cloud computing and artificial intelligence infrastructure over the next three years.

Experts also said addressing people's needs will also be a major growth driver.

Tian Xuan, associate dean of Tsinghua University's PBC School of Finance, told the Global Times that the central government has laid out detailed measures and policies to foster economic growth in 2025, supported by a moderately loose monetary policy, a more proactive fiscal policy, advancements in hardcore technologies, people-oriented investment and a strong emphasis on innovation.

Traditional industries are facing diminishing returns in driving growth, while new opportunities are emerging in key public welfare sectors like healthcare, medical services, and advanced education, Cao said. "With fiscal and monetary support, these industries are set to become investment priorities and translate into concrete projects."

Full support

China is due to release its economic data for January and February on March 17.

Economists at global investment bank Citi have revised their forecast for Chinese GDP growth to 4.7 percent this year from 4.5 percent, partly on a boost from investment in AI. 

Li with the NDRC noted that in addition to overall economic growth, policymakers may attach more attention to consumer price levels than what they had done in previous years. 

The NDRC expert said that 5 percent growth target is a guiding indicator, backed by thorough government assessment despite some forecasts by foreign financial institution that suggest otherwise. "If signs of economic strain emerge, policymakers will step up support to maintain growth," the expert said.

A Chinese Defense Ministry spokesperson on Friday called US reports claiming China is building a large nuclear-powered aircraft carrier "purely speculative," but cited China's national security needs and technology development for the country's aircraft carrier development. Chinese military affairs experts said China's aircraft carrier construction does not need to be compared with US carriers, but they remain open about the possibility of China developing new technologies for aircraft carriers.

In response to a media inquiry on reports regarding the US media claim that China may be building a large nuclear-powered aircraft carrier that would rival American vessels, Zhang Xiaogang, a spokesperson for the Ministry of National Defense, said on Friday that the media reports are purely speculative.

It is important to emphasize that China has always considered aircraft carrier development based on national security needs and the advancement of equipment and technology, said Zhang.

The Chinese spokesperson's remarks came after the US media outlet NBC News reported on March 2 that after examining new satellite imagery on China's Dalian shipbuilding facility provided by Maxar Technologies, a defense contractor used by the US government, five analysts claimed that China is developing a new aircraft carrier that will allow fighter jets to be launched from four parts of the flight deck.

In the report, Michael Duitsman, a researcher at the James Martin Center for Nonproliferation Studies, claimed that the general consensus "is that the new carrier will have four catapults," which would allow more planes to take off and match US carriers like the USS Gerald R. Ford. To accommodate four catapults, the ship will need to be larger than the Fujian, China's third aircraft carrier, matching American tonnage and powered by a nuclear reactor.

Song Zhongping, a Chinese military affairs expert, told the Global Times on Friday that what can be seen from satellite imagery cannot accurately reflect what is on the ground, so analyses based on satellite imagery has limits, and can only be speculative.

"The information provided by the spokespersonss is clear. China's aircraft carrier development does not need to be compared to US aircraft carriers," Zhang Junshe, another Chinese military affairs expert, told the Global Times, noting that reports by US media outlets are speculative and unfounded.

China currently operates three aircraft carriers: the Liaoning, the Shandong, and the Fujian. The Fujian is the nation's first fully domestically designed aircraft carrier built with catapults, with a full-load displacement of over 80,000 tons.

Zhang Junshe said that China has indeed mastered aircraft carrier construction technology and accumulated extensive experience and technical expertise. He said that from design and construction to testing, China has established a complete aircraft carrier development process and achieved breakthroughs in many areas. However, technologies required for nuclear-powered aircraft carriers are different from those needed for conventional aircraft carriers or nuclear-powered submarines, and they demand a long-term and complicated process.

Only through continuous development of carrier technology can China transform potential into reality, such as building larger carriers, should national security demands arise, Zhang Junshe said.

But both experts remain open about the possibility of China building a nuclear-powered aircraft carrier in the future.

Song noted that China has gone from having no aircraft carrier to having three, from refitting a Soviet-era carrier to independently building carriers, from having ski-jump carriers to having a catapult-launch carrier, adding that China's aircraft carrier technologies have been progressing.

Building a nuclear-powered aircraft carrier has been a development trend for other major naval powers, so it is normal if China considers it, Song said. "Nuclear-powered aircraft carriers have obvious advantages, and carriers need long endurance for far seas deployment," he said.

China's shipbuilding industry now possesses robust production capabilities and technical proficiency to support the construction of large surface vessels like carriers. Meanwhile, the experience and technological reserves accumulated during past carrier projects provide a solid foundation for developing larger carriers, according to Zhang Junshe.

"Nuclear-powered carriers outperform conventional ones in terms of endurance and self-sustainability, and nuclear propulsion allows for greater aircraft and weaponry capacity, significantly enhancing combat effectiveness," Zhang Junshe said. "Such carriers can operate overseas for extended periods, better safeguarding China's overseas interests and energy supply routes."

The Pakistan Navy's second Hangor-class submarine was recently launched in China, with a Chinese expert expecting the boat with strong comprehensive combat capability to become a mainstay for the Pakistan Navy and represent a high level of military cooperation between the two countries to safeguard peace and stability in the region.

The launching ceremony took place in Wuhan, Central China's Hubei Province, on Thursday, the Pakistan Navy confirmed to the Global Times on Sunday.

 While addressing the ceremony, Vice Admiral Ovais Ahmed Bilgrami, a vice chief of the Naval Staff of the Pakistan Navy, emphasized that the Hangor-class submarines, equipped with state-of-the-art weapons and sensors, will play a pivotal role in maintaining the balance of power and maritime order in the region, according to a news release by the Pakistan Navy.

Acknowledging the tireless efforts from the Chinese side, he expressed satisfaction with the project's progress and underscored that the Hangor-class submarine project will add a new dimension to time-tested Pakistan-China friendship.

Under an agreement, Pakistan will acquire eight Hangor-class submarines from China. Four of them will be built in China, while the remaining four will be constructed in Karachi, Pakistan under a transfer of technology program, the Pakistan Navy said, noting that these submarines will be fitted with cutting-edge weapons and sensors, enabling them to engage targets at standoff ranges.

The first Hangor-class submarine was launched in April 2024, according to open reports.

Zhang Junshe, a Chinese military affairs expert, told the Global Times on Sunday that Hangor-class submarines possess strong underwater combat capabilities and will play a central role in the Pakistan Navy after their commissioning.

The submarine is equipped with an air independent propulsion system that will give the boat strong, sustained stealth capability, maneuverability and endurance, Zhang said, highlighted its firepower, including torpedoes, anti-ship missiles and mine-laying capabilities, along with advanced underwater detection systems.

Zhang noted the Hangor-class submarine project as a representation of the deep friendship between China and Pakistan. He described the project as a symbol of deep military cooperation, reinforcing strategic trust and safeguarding maritime security as well as peace and stability in the region.

In an exclusive interview with the Global Times published in January, Chief of the Naval Staff of the Pakistan Navy Admiral Naveed Ashraf told the Global Times that the Hangor-class submarines will significantly enhance Pakistan's naval capabilities. These submarines will provide improved stealth, maneuverability and firepower, allowing the Pakistan Navy to execute a wide range of operations effectively.

"The project is proceeding as per the timeline. We expect that these submarines will join the Pakistan Navy fleet very soon," Ashraf stated.

Baidu Vice President Xie Guangjun issued an apology on Monday on his WeChat Moments, expressing deep remorse over his daughter's disclosure of others' private information online and extending apologies to all affected individuals, according to domestic news outlet Yicai.

Xie said his 13-year-old daughter posted private information of others obtained from overseas social networking sites on her account after losing control during an argument online. This has led to the exposure of both his and his daughter's personal information and triggered wide spread of negative statements.

"As a father, I failed to detect and guide her in handling the matter properly in a timely manner, nor did I adequately teach her to respect and protect others' and her own privacy," Xie said in the post, adding that "I feel extremely guilty and sincerely apologize to all affected individuals." 

Xie said he had communicated with his daughter and criticized her actions. He also said he hopes netizens will stop spreading the relevant information and give his daughter, who is a minor, room for correction and growth, according to the post.

A scenic area in Chengdu, Southwest China's Sichuan Province, attempted to create a winter wonderland by using cotton and soap water to simulate snowfall, but backfired and triggered dissatisfaction among tourists. Currently, the scenic area has been urged to close for rectification, and the local market regulatory authorities are investigating the suspected false advertising practices.

According to the promotional photos of the relevant scenic area, the snow town features forests, heavy snow, and small wooden cabins, fulfilling tourists' longing for snow landscape. The advertisement even claimed that Chengdu's snow town was a more cost-effective alternative to the famous Snow Town in Northeast China, according to Sichuan-based Fengmian News.

However, visitors to the snow town in Qionglai quickly took to social media to express their disappointment. The videos show that in the snow town, there were "snowflakes" on the ground, rooftops, and trees. However, upon closer inspection, it turned out to be cotton. The poster humorously commented in the video, "they dare to call this cotton snow?"

A travel blogger also shared his experience, calling the visit a scam. The videos posted suggest that the promotional photos for this "snow town" appear to have stolen images from the Snow Town scenic spot in Northeast China's Heilongjiang Province, creating an atmosphere of heavy snowfall. The site not only lacked real snow but instead resembled an artificial landscape, with the snowfall produced using "soapy water," the blogger said.

The involved scenic area has issued an apology letter on February 8 regarding this matter, stating that due to the warm weather during the 2025 Spring Festival, the scenic area was unable to present the snow town scene. In order to offer a snowy atmosphere, the area purchased snow cotton online and started business on the first day of the Spring Festival holidays.

However, the attempt failed to obtain the desired result, leaving a poor impression on visitors, the letter admitted. After receiving feedback from tourists, the area began to remove all the snow cotton from the second day of the Spring Festival holidays. The letter also mentioned that the tourist area would process refunds for visitors.

The tourist area later announced that it would close for upgrades starting February 9, without setting a reopening date, according to Jimu News.

On Wednesday, the Chengdu Municipal Bureau of Culture, Broadcast-TV, and Tourism confirmed that the site had been shut down for rectification, and local regulators have launched an investigation into suspected false advertising, according to CNR.