With the United States imposing an additional 10% tariff on all Chinese goods this week, Beijing is working to shore up market confidence amid growing concerns over the potential consequences of the trade war.<\/p>\n
The Chinese government\u2019s response included a series of retaliatory measures, including a 10-15% tariff on some American goods. This move reflects China’s growing reliance on its domestic market, rapid technological advancements exemplified by the launch of DeepSeek\u2019s artificial intelligence (AI) model, and the country\u2019s robust manufacturing capabilities.<\/p>\n
\u201cWe should strengthen trust, work together, and view external changes objectively,\u201d Premier Li Qiang said at a plenary session of the State Council on Wednesday, the first working day of China\u2019s Year of the Snake.<\/p>\n
\u201cCoordinated measures are needed to address domestic economic issues and respond to external challenges,\u201d said Li, China\u2019s second-ranking political figure and the chief overseer of the national economy.<\/p>\n
\u201cWe must turn pressure into motivation [to move forward],\u201d Li said, discussing a draft of the government work report to be reviewed by the Chinese parliament next month.<\/p>\n
The premier is expected to announce this year\u2019s economic targets\u2014including GDP growth, inflation, fiscal deficit ratio, and bond issuance\u2014during the annual parliamentary session. The market anticipates a growth target of \u201caround 5%,\u201d largely unchanged from last year.<\/p>\n
At Wednesday\u2019s meeting, Li pledged \u201cnorm-breaking\u201d measures and \u201ceasy-to-feel\u201d policies as he strives for progress in developing a large domestic market while boosting technological innovation and industrial upgrades.<\/p>\n
Policies should interact more effectively with the market, provide better conditions for enterprise innovation and development, and aim to \u201ccreate more opportunities for all talents,\u201d he added.<\/p>\n
Some provincial governments also committed to supporting innovation and fostering better business environments during local-level meetings on Wednesday, ranking these initiatives as top priorities.<\/p>\n
Guangdong, China\u2019s largest provincial economy and exporter, will prioritize artificial intelligence and robotics by increasing investment to create new growth drivers, according to an announcement by party secretary Huang Kunming at a provincial development conference.<\/p>\n
Huang highlighted leading technology companies such as Huawei Technologies, DeepSeek, and Unitree Robotics as examples of China\u2019s competitive edge. He pledged that Guangdong could become a leader in strategically important sectors by increasing investment in key areas such as chips and software.<\/p>\n
Xinhua <\/i>published a commentary on Thursday praising how the country\u2019s technological progress is exemplified by AI and robotics companies, while also emphasizing the need for further efforts.<\/p>\n
\u201cChinese tech firms are blossoming and moving towards the Age of Exploration,\u201d the commentary said, underscoring the need for continuous efforts in the field of technology to keep pace with rapid advancements.<\/p>\n","protected":false},"excerpt":{"rendered":"
With the United States imposing an additional 10% tariff on all Chinese goods this week, Beijing is working to shore up market confidence amid growing concerns over the potential consequences of the trade war. The Chinese government\u2019s response included a series of retaliatory measures, including a 10-15% tariff on some American goods. This move reflects […]<\/p>\n","protected":false},"author":1,"featured_media":7688,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[4],"tags":[2122,529,5442,6152,2052,6159,4353,6157,3922,6155,2055,6154,1831,6156,6158,2360,6153,5962,6151,5958],"class_list":["post-7687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia","tag-artificial-intelligence","tag-china","tag-deepseek","tag-domestic-market","tag-economic-growth","tag-export-import-dynamics","tag-fiscal-policy","tag-gdp-target","tag-global-markets","tag-guangdong","tag-huawei-technologies","tag-industrial-upgrades","tag-li-qiang","tag-robotics","tag-supply-chain-resilience","tag-tariffs","tag-technological-innovation","tag-trade-tensions","tag-unitree-robotics","tag-us-china-trade-war"],"yoast_head":"\n