China's 14th National People's Congress Fourth Session Economic Press Conference: Clarifies Economic Growth Targets, Lays Out Emerging Industries and People's Livelihood Policies

The economic-themed press conference of the 14th National People's Congress Fourth Session took place on the 6th, where officials addressed questions on development and reform, finance, commerce, and other areas. Zheng Shanjie, head of the National Development and Reform Commission, noted that the 4.5%-5% economic growth target is achievable, supported by total economic scale, innovation capacity, and risk response capabilities. He added that six emerging pillar industries (including intelligent robots) will be prioritized, and the AI industry size is expected to exceed 10 trillion yuan by the end of the 15th Five-Year Plan. Lan Foan, Minister of Finance, announced that a more proactive fiscal policy will continue this year, with a record-high new government bond scale; 100 billion yuan is earmarked for domestic demand promotion. Pan Gongsheng, Governor of the People's Bank of China, stated that flexible monetary policy tools like RRR cuts and interest rate reductions will be used. People's livelihood policies such as university enrollment expansion and elderly care institution renovation were also discussed.