China's Growth Ambitions Amid Tariff Challenges

China's President Xi Jinping aims for a growth target of around 5% this year despite ongoing trade tensions with the U.S. The government's fiscal deficit target has been set at 4%, indicating a willingness to spend significantly on various programs, including pensions and medical insurance subsidies. However, analysts predict that the actual growth may be closer to 4.5%, signaling skepticism regarding the government's optimistic outlook. To stimulate consumption, authorities may need to introduce a broader range of measures, especially if external pressures, such as new U.S. tariffs, intensify.